Brokerages Set Northern Trust Co. (NASDAQ:NTRS) Target Price at $89.75

Northern Trust Co. (NASDAQ:NTRS) has been given a consensus rating of “Hold” by the twelve research firms that are covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $89.75.

NTRS has been the topic of several research reports. Morgan Stanley increased their price target on shares of Northern Trust from $93.00 to $97.00 and gave the stock an “underweight” rating in a report on Monday, September 30th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Northern Trust from $84.00 to $94.00 and gave the stock a “hold” rating in a report on Monday, September 23rd. Keefe, Bruyette & Woods cut their price target on shares of Northern Trust from $92.00 to $85.00 and set a “market perform” rating on the stock in a report on Thursday, June 27th. Royal Bank of Canada increased their price target on shares of Northern Trust from $86.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. Finally, The Goldman Sachs Group downgraded shares of Northern Trust from a “neutral” rating to a “sell” rating and cut their price target for the stock from $84.00 to $82.00 in a report on Thursday, September 26th.

Northern Trust Stock Performance

NTRS stock opened at $90.20 on Tuesday. The firm has a market cap of $18.45 billion, a price-to-earnings ratio of 19.91, a PEG ratio of 1.53 and a beta of 1.08. The firm has a 50-day simple moving average of $88.06 and a two-hundred day simple moving average of $85.87. Northern Trust has a one year low of $62.44 and a one year high of $92.82. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings data on Wednesday, July 17th. The asset manager reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.03. Northern Trust had a net margin of 10.53% and a return on equity of 12.24%. The firm had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the prior year, the company posted $1.79 earnings per share. The company’s revenue for the quarter was up 53.8% compared to the same quarter last year. On average, equities analysts forecast that Northern Trust will post 7.01 EPS for the current fiscal year.

Northern Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date was Friday, September 6th. Northern Trust’s payout ratio is currently 66.23%.

Insider Buying and Selling at Northern Trust

In other news, EVP Teresa Parker sold 5,883 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $84.06, for a total transaction of $494,524.98. Following the completion of the sale, the executive vice president now owns 83,765 shares in the company, valued at approximately $7,041,285.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Charles A. Tribbett sold 1,855 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $88.12, for a total value of $163,462.60. Following the completion of the sale, the director now owns 1,000 shares in the company, valued at $88,120. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Teresa Parker sold 5,883 shares of the stock in a transaction 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 completion of the sale, the executive vice president now owns 83,765 shares of the company’s stock, valued at $7,041,285.90. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,738 shares of company stock valued at $1,191,388. 0.64% of the stock is owned by corporate insiders.

Institutional Trading of Northern Trust

Hedge funds and other institutional investors have recently modified their holdings of the company. Olistico Wealth LLC purchased a new stake in shares of Northern Trust during the second quarter worth $25,000. Innealta Capital LLC purchased a new stake in shares of Northern Trust during the second quarter worth $26,000. Spartan Planning & Wealth Management increased its position in Northern Trust by 10,566.7% during the fourth quarter. Spartan Planning & Wealth Management now owns 320 shares of the asset manager’s stock worth $27,000 after buying an additional 317 shares during the last quarter. Ridgewood Investments LLC acquired a new position in Northern Trust during the second quarter worth $30,000. Finally, Versant Capital Management Inc increased its position in Northern Trust by 343.9% during the second quarter. Versant Capital Management Inc now owns 435 shares of the asset manager’s stock worth $37,000 after buying an additional 337 shares during the last quarter. 83.19% of the stock is currently owned by hedge funds and other institutional investors.

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.