Northern Trust (NASDAQ:NTRS - Free Report) had its price target reduced by Evercore ISI from $113.00 to $104.00 in a report published on Tuesday,Benzinga reports. They currently have an in-line rating on the asset manager's stock.
Several other research firms have also recently issued reports on NTRS. UBS Group boosted their price objective on shares of Northern Trust from $110.00 to $114.00 and gave the company a "neutral" rating in a research report on Monday, January 27th. Wells Fargo & Company cut their price target on Northern Trust from $119.00 to $118.00 and set an "equal weight" rating on the stock in a research note on Friday, March 28th. Keefe, Bruyette & Woods upped their price objective on shares of Northern Trust from $113.00 to $122.00 and gave the stock a "market perform" rating in a research note on Friday, January 24th. StockNews.com downgraded shares of Northern Trust from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Finally, Morgan Stanley lowered their price target on shares of Northern Trust from $138.00 to $136.00 and set an "equal weight" rating for the company in a research report on Thursday, March 6th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $113.69.
View Our Latest Analysis on NTRS
Northern Trust Price Performance
Shares of NASDAQ:NTRS traded down $8.15 during mid-day trading on Tuesday, reaching $90.58. The stock had a trading volume of 2,009,204 shares, compared to its average volume of 1,233,395. The company has a market cap of $17.73 billion, a P/E ratio of 9.26, a price-to-earnings-growth ratio of 1.72 and a beta of 1.07. Northern Trust has a 1 year low of $79.32 and a 1 year high of $114.67. The business's 50 day moving average price is $106.51 and its 200 day moving average price is $103.11. The company has a current ratio of 0.68, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58.
Northern Trust (NASDAQ:NTRS - Get Free Report) last announced its earnings results on Thursday, January 23rd. The asset manager reported $2.26 EPS for the quarter, topping analysts' consensus estimates of $1.96 by $0.30. Northern Trust had a return on equity of 13.74% and a net margin of 12.77%. Research analysts expect that Northern Trust will post 8.27 EPS for the current fiscal year.
Northern Trust Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were paid a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $3.00 dividend on an annualized basis and a yield of 3.31%. Northern Trust's payout ratio is 30.67%.
Insider Transactions at Northern Trust
In other news, insider Jason J. Tyler sold 2,237 shares of the company's stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $112.67, for a total value of $252,042.79. Following the sale, the insider now directly owns 58,449 shares of the company's stock, valued at $6,585,448.83. This represents a 3.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Peter Cherecwich sold 26,132 shares of the business's stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $112.36, for a total transaction of $2,936,191.52. Following the transaction, the chief operating officer now owns 26,586 shares of the company's stock, valued at $2,987,202.96. This represents a 49.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,335 shares of company stock worth $3,970,211. Company insiders own 0.77% of the company's stock.
Institutional Investors Weigh In On Northern Trust
Several institutional investors and hedge funds have recently added to or reduced their stakes in NTRS. Massachusetts Financial Services Co. MA lifted its stake in Northern Trust by 1.2% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,486,616 shares of the asset manager's stock worth $767,378,000 after purchasing an additional 92,162 shares in the last quarter. Geode Capital Management LLC boosted its position in Northern Trust by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 4,904,871 shares of the asset manager's stock valued at $501,444,000 after buying an additional 30,908 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Northern Trust by 9.9% during the third quarter. JPMorgan Chase & Co. now owns 4,296,442 shares of the asset manager's stock worth $386,809,000 after buying an additional 388,692 shares during the period. Invesco Ltd. raised its stake in Northern Trust by 7.5% in the fourth quarter. Invesco Ltd. now owns 2,885,312 shares of the asset manager's stock valued at $295,744,000 after buying an additional 202,327 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of Northern Trust by 1.6% in the 4th quarter. Wellington Management Group LLP now owns 2,532,401 shares of the asset manager's stock valued at $259,571,000 after buying an additional 39,592 shares in the last quarter. Hedge funds and other institutional investors own 83.19% of the company's stock.
About Northern Trust
(
Get Free Report)
Northern Trust Corporation, a financial holding company, provides wealth management, asset servicing, asset management, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates in two segments, Asset Servicing and Wealth Management. The Asset Servicing segment offers asset servicing and related services, including custody, fund administration, investment operations outsourcing, investment management, investment risk and analytical services, employee benefit services, securities lending, foreign exchange, treasury management, brokerage services, transition management services, banking, and cash management services.
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