Northern Trust (NASDAQ:NTRS) Price Target Increased to $90.00 by Analysts at Royal Bank of Canada

Northern Trust (NASDAQ:NTRS) had its price objective upped by Royal Bank of Canada from $86.00 to $90.00 in a research note released on Thursday, Benzinga reports. The brokerage currently has an outperform rating on the asset manager’s stock.

A number of other research firms also recently weighed in on NTRS. Jefferies Financial Group upped their price target on shares of Northern Trust from $101.00 to $103.00 and gave the stock a buy rating in a research note on Thursday, April 18th. Keefe, Bruyette & Woods decreased their price objective on shares of Northern Trust from $92.00 to $85.00 and set a market perform rating for the company in a report on Thursday, June 27th. The Goldman Sachs Group decreased their price objective on shares of Northern Trust from $94.00 to $84.00 and set a neutral rating for the company in a report on Tuesday, July 2nd. Bank of America upped their price objective on shares of Northern Trust from $93.00 to $101.00 and gave the stock a buy rating in a report on Wednesday, April 17th. Finally, Evercore ISI upped their price objective on shares of Northern Trust from $86.00 to $87.00 and gave the stock an in-line rating in a report on Thursday, April 4th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Northern Trust presently has a consensus rating of Hold and an average price target of $86.75.

Northern Trust Trading Down 0.9 %

NASDAQ NTRS opened at $85.49 on Thursday. Northern Trust has a 1-year low of $62.44 and a 1-year high of $92.46. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $17.49 billion, a PE ratio of 18.87, a price-to-earnings-growth ratio of 1.20 and a beta of 1.10. The firm’s fifty day simple moving average is $84.07 and its 200-day simple moving average is $83.32.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings results on Wednesday, July 17th. The asset manager reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.75 by $0.03. Northern Trust had a net margin of 10.53% and a return on equity of 12.24%. The business had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the prior year, the business posted $1.79 earnings per share. Northern Trust’s revenue for the quarter was up 53.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Northern Trust will post 6.97 earnings per share for the current fiscal year.

Northern Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 3.51%. The ex-dividend date of this dividend is Friday, September 6th. Northern Trust’s payout ratio is presently 66.23%.

Insider Activity at Northern Trust

In related news, insider Peter Cherecwich sold 12,000 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $87.09, for a total value of $1,045,080.00. Following the completion of the sale, the insider now owns 31,471 shares in the company, valued at $2,740,809.39. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Steven L. Fradkin sold 4,097 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $82.56, for a total value of $338,248.32. Following the completion of the sale, the insider now owns 46,078 shares in the company, valued at $3,804,199.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Peter Cherecwich sold 12,000 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $87.09, for a total transaction of $1,045,080.00. Following the completion of the sale, the insider now owns 31,471 shares of the company’s stock, valued at approximately $2,740,809.39. The disclosure for this sale can be found here. 0.64% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Ballast Inc. raised its position in Northern Trust by 1.1% in the fourth quarter. Ballast Inc. now owns 12,208 shares of the asset manager’s stock worth $1,030,000 after purchasing an additional 136 shares in the last quarter. Mather Group LLC. raised its position in Northern Trust by 3.6% in the fourth quarter. Mather Group LLC. now owns 4,271 shares of the asset manager’s stock worth $360,000 after purchasing an additional 147 shares in the last quarter. Aviance Capital Partners LLC raised its position in Northern Trust by 1.8% in the fourth quarter. Aviance Capital Partners LLC now owns 8,585 shares of the asset manager’s stock worth $724,000 after purchasing an additional 150 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its position in Northern Trust by 23.1% in the second quarter. Massmutual Trust Co. FSB ADV now owns 805 shares of the asset manager’s stock worth $68,000 after purchasing an additional 151 shares in the last quarter. Finally, Quent Capital LLC raised its position in Northern Trust by 77.8% in the fourth quarter. Quent Capital LLC now owns 361 shares of the asset manager’s stock worth $30,000 after purchasing an additional 158 shares in the last quarter. Institutional investors and hedge funds own 83.19% of the company’s stock.

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.