Northern Trust Corporation (NASDAQ:NTRS) Receives $132.46 Consensus Price Target from Analysts

Shares of Northern Trust Corporation (NASDAQ:NTRS) have been assigned an average rating of “Hold” from the seventeen brokerages that are covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and five have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $132.4615.

A number of analysts have recently issued reports on NTRS shares. TD Cowen lifted their price target on Northern Trust from $152.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Cowen reaffirmed a “buy” rating on shares of Northern Trust in a report on Thursday, October 23rd. Morgan Stanley raised their price target on shares of Northern Trust from $127.00 to $131.00 and gave the stock an “underweight” rating in a research note on Wednesday, December 17th. Evercore ISI boosted their price target on shares of Northern Trust from $125.00 to $135.00 and gave the stock an “in-line” rating in a research report on Tuesday, September 30th. Finally, The Goldman Sachs Group set a $135.00 price objective on shares of Northern Trust in a report on Tuesday, September 30th.

Insiders Place Their Bets

In other news, Director Robert Edward Jr. Moritz acquired 3,891 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The stock was purchased at an average price of $128.57 per share, with a total value of $500,265.87. Following the completion of the acquisition, the director owned 6,686 shares of the company’s stock, valued at $859,619.02. This trade represents a 139.21% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John Landers sold 766 shares of the firm’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $124.35, for a total transaction of $95,252.10. Following the sale, the insider owned 7,313 shares of the company’s stock, valued at approximately $909,371.55. The trade was a 9.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.77% of the stock is currently owned by corporate insiders.

Institutional Trading of Northern Trust

Hedge funds and other institutional investors have recently made changes to their positions in the company. Triumph Capital Management purchased a new position in Northern Trust in the third quarter worth approximately $25,000. Saranac Partners Ltd acquired a new position in Northern Trust in the 3rd quarter valued at about $135,000. Allworth Financial LP grew its holdings in shares of Northern Trust by 44.8% in the third quarter. Allworth Financial LP now owns 1,522 shares of the asset manager’s stock valued at $205,000 after purchasing an additional 471 shares in the last quarter. IFP Advisors Inc grew its stake in shares of Northern Trust by 39.2% in the third quarter. IFP Advisors Inc now owns 1,395 shares of the asset manager’s stock worth $188,000 after acquiring an additional 393 shares in the last quarter. Finally, Swiss Life Asset Management Ltd increased its position in shares of Northern Trust by 119.9% during the third quarter. Swiss Life Asset Management Ltd now owns 83,175 shares of the asset manager’s stock worth $11,195,000 after acquiring an additional 45,356 shares during the period. Institutional investors and hedge funds own 83.19% of the company’s stock.

Northern Trust Stock Down 0.3%

Shares of NASDAQ NTRS opened at $139.71 on Thursday. The firm has a market cap of $26.42 billion, a price-to-earnings ratio of 16.28, a price-to-earnings-growth ratio of 1.51 and a beta of 1.27. The company’s 50-day simple moving average is $131.79 and its 200-day simple moving average is $128.86. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.58. Northern Trust has a 52-week low of $81.62 and a 52-week high of $141.25.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings results on Wednesday, October 22nd. The asset manager reported $2.29 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.03. Northern Trust had a net margin of 11.99% and a return on equity of 14.37%. The firm had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same period last year, the company posted $2.22 EPS. Northern Trust’s quarterly revenue was up 2.8% compared to the same quarter last year. Equities analysts predict that Northern Trust will post 8.27 EPS for the current fiscal year.

Northern Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 1st. Investors of record on Friday, December 5th will be given a dividend of $0.80 per share. The ex-dividend date is Friday, December 5th. This represents a $3.20 dividend on an annualized basis and a yield of 2.3%. Northern Trust’s dividend payout ratio (DPR) is presently 37.30%.

About Northern Trust

Northern Trust Corporation (NASDAQ: NTRS) is a global financial services firm headquartered in Chicago that provides asset servicing, asset management and wealth management solutions to institutions, corporations and high-net-worth individuals. The company’s core businesses include custody and fund administration, investment operations outsourcing, trust and fiduciary services, private banking, and retirement and defined contribution plan services.

Northern Trust’s product and service offerings span custody and fund accounting, portfolio and performance analytics, securities lending, cash management and foreign exchange, as well as discretionary and non-discretionary investment management.