Truist Financial Cuts Northern Trust (NASDAQ:NTRS) Price Target to $98.00

Northern Trust (NASDAQ:NTRS - Free Report) had its target price trimmed by Truist Financial from $116.00 to $98.00 in a research note released on Friday,Benzinga reports. The brokerage currently has a hold rating on the asset manager's stock.

Several other research firms also recently issued reports on NTRS. Barclays lifted their price target on shares of Northern Trust from $115.00 to $118.00 and gave the stock an "equal weight" rating in a research note on Monday, January 6th. The Goldman Sachs Group lifted their target price on Northern Trust from $92.00 to $102.00 and gave the stock a "sell" rating in a research report on Friday, January 24th. StockNews.com downgraded Northern Trust from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Evercore ISI dropped their price objective on Northern Trust from $113.00 to $104.00 and set an "in-line" rating on the stock in a report on Tuesday, April 1st. Finally, Bank of America reduced their target price on Northern Trust from $123.00 to $121.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $112.31.

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Northern Trust Stock Up 10.4 %

Shares of NTRS traded up $8.82 during midday trading on Friday, reaching $93.27. 2,084,598 shares of the company were exchanged, compared to its average volume of 1,248,632. Northern Trust has a 1-year low of $79.32 and a 1-year high of $114.67. The stock has a 50-day moving average price of $103.99 and a 200-day moving average price of $102.94. The company has a current ratio of 0.68, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The company has a market cap of $18.25 billion, a price-to-earnings ratio of 9.54, a P/E/G ratio of 1.72 and a beta of 1.10.

Northern Trust (NASDAQ:NTRS - Get Free Report) last released its quarterly earnings results on Thursday, January 23rd. The asset manager reported $2.26 EPS for the quarter, topping the consensus estimate 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 earnings per share for the current year.

Northern Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 3.22%. The ex-dividend date of this dividend was Friday, March 14th. Northern Trust's dividend payout ratio (DPR) is presently 30.67%.

Insider Activity at Northern Trust

In other Northern Trust news, COO Peter Cherecwich sold 26,132 shares of the firm's stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $112.36, for a total value of $2,936,191.52. Following the sale, the chief operating officer now directly owns 26,586 shares in the company, valued at approximately $2,987,202.96. This trade represents a 49.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider John Landers sold 900 shares of the company's stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $111.44, for a total transaction of $100,296.00. Following the transaction, the insider now owns 7,640 shares of the company's stock, valued at $851,401.60. This represents a 10.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,335 shares of company stock valued at $3,970,211 in the last quarter. Insiders own 0.77% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Rockefeller Capital Management L.P. boosted its position in shares of Northern Trust by 5.5% during the third quarter. Rockefeller Capital Management L.P. now owns 26,830 shares of the asset manager's stock worth $2,416,000 after buying an additional 1,405 shares during the period. HighTower Advisors LLC boosted its position in Northern Trust by 48.8% during the 3rd quarter. HighTower Advisors LLC now owns 26,774 shares of the asset manager's stock worth $2,431,000 after acquiring an additional 8,781 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its position in Northern Trust by 1.5% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 38,755 shares of the asset manager's stock worth $3,489,000 after acquiring an additional 590 shares during the period. Investment Management Corp of Ontario grew its stake in shares of Northern Trust by 47.9% in the third quarter. Investment Management Corp of Ontario now owns 6,794 shares of the asset manager's stock worth $612,000 after purchasing an additional 2,200 shares in the last quarter. Finally, IHT Wealth Management LLC acquired a new position in shares of Northern Trust during the third quarter valued at $297,000. 83.19% of the stock is owned by institutional investors and hedge funds.

Northern Trust Company Profile

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.