Northern Trust Co. (NASDAQ:NTRS) Receives $87.33 Consensus Price Target from Brokerages

Shares of Northern Trust Co. (NASDAQ:NTRS) have been given a consensus recommendation of “Hold” by the twelve brokerages that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $88.75.

NTRS has been the topic of several recent analyst reports. Morgan Stanley cut their target price on Northern Trust from $97.00 to $93.00 and set an “underweight” rating on the stock in a research note on Tuesday, July 30th. The Goldman Sachs Group reduced 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. Royal Bank of Canada raised their target price on shares of Northern Trust from $86.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Northern Trust from $85.00 to $84.00 and set a “hold” rating for the company in a research note on Thursday. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Northern Trust from $92.00 to $85.00 and set a “market perform” rating on the stock in a research note on Thursday, June 27th.

Insiders Place Their Bets

In other news, EVP Teresa Parker sold 5,883 shares of Northern Trust stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $84.06, for a total value of $494,524.98. Following the transaction, the executive vice president now directly owns 83,765 shares of the company’s stock, valued at $7,041,285.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.64% of the company’s stock.

Institutional Trading of Northern Trust

Hedge funds and other institutional investors have recently modified their holdings of the business. Massachusetts Financial Services Co. MA lifted its stake in Northern Trust by 13.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,413,620 shares of the asset manager’s stock worth $622,596,000 after acquiring an additional 850,556 shares in the last quarter. Primecap Management Co. CA lifted its position in shares of Northern Trust by 3.9% in the second quarter. Primecap Management Co. CA now owns 7,046,757 shares of the asset manager’s stock worth $591,787,000 after purchasing an additional 261,285 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Northern Trust by 140.2% during the fourth quarter. Wellington Management Group LLP now owns 5,802,792 shares of the asset manager’s stock worth $489,640,000 after purchasing an additional 3,387,002 shares during the period. Ariel Investments LLC grew its position in Northern Trust by 3.6% during the second quarter. Ariel Investments LLC now owns 2,644,205 shares of the asset manager’s stock valued at $222,060,000 after purchasing an additional 91,816 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Northern Trust by 12.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,003,675 shares of the asset manager’s stock valued at $168,253,000 after buying an additional 219,387 shares during the period. Institutional investors and hedge funds own 83.19% of the company’s stock.

Northern Trust Stock Up 1.1 %

NTRS stock opened at $87.20 on Monday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. The firm’s 50-day simple moving average is $84.83 and its 200 day simple moving average is $83.81. The stock has a market cap of $17.84 billion, a PE ratio of 19.25, a price-to-earnings-growth ratio of 1.29 and a beta of 1.10. Northern Trust has a fifty-two week low of $62.44 and a fifty-two week high of $92.46.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings results on Wednesday, July 17th. The asset manager reported $1.78 EPS for the quarter, beating the consensus estimate of $1.75 by $0.03. The company had revenue of $2.72 billion for the quarter, compared to analyst estimates of $1.84 billion. Northern Trust had a net margin of 10.53% and a return on equity of 12.24%. Northern Trust’s revenue was up 53.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.79 earnings per share. As a group, sell-side analysts predict that Northern Trust will post 7.02 EPS for the current year.

Northern Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be given a $0.75 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.44%. Northern Trust’s dividend payout ratio (DPR) is 66.23%.

About Northern Trust

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.