Northern Trust (NASDAQ:NTRS) Given New $190.00 Price Target at BMO Capital Markets

Northern Trust (NASDAQ:NTRS) had its price objective lowered by BMO Capital Markets from $208.00 to $190.00 in a research note published on Tuesday morning,Benzinga reports. BMO Capital Markets currently has an outperform rating on the asset manager’s stock.

Several other analysts have also recently weighed in on NTRS. Zacks Research cut shares of Northern Trust from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 25th. JPMorgan Chase & Co. cut their target price on Northern Trust from $185.50 to $185.00 and set a “neutral” rating on the stock in a research report on Friday, October 2nd. Barclays boosted their target price on Northern Trust from $176.00 to $189.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 23rd. Morgan Stanley increased their price target on shares of Northern Trust from $170.00 to $173.00 and gave the company an “underweight” rating in a research note on Thursday, July 23rd. Finally, Wells Fargo & Company raised their price objective on shares of Northern Trust from $189.00 to $194.00 and gave the stock an “equal weight” rating in a report on Thursday, July 23rd. Four research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $183.93.

Northern Trust Trading Down 0.7%

NTRS opened at $169.46 on Tuesday. The business has a fifty day moving average price of $182.06 and a 200 day moving average price of $171.48. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.65 and a quick ratio of 0.65. Northern Trust has a 12 month low of $121.12 and a 12 month high of $195.78. The stock has a market capitalization of $31.00 billion, a price-to-earnings ratio of 14.55, a PEG ratio of 0.96 and a beta of 1.24.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings results on Wednesday, July 22nd. The asset manager reported $4.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.71 by $1.52. The company had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.69 billion. Northern Trust had a return on equity of 16.91% and a net margin of 14.76%.Northern Trust’s revenue for the quarter was up 35.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.13 EPS. Sell-side analysts expect that Northern Trust will post 11.64 earnings per share for the current fiscal year.

Northern Trust Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Friday, September 4th were paid a dividend of $0.88 per share. The ex-dividend date was Friday, September 4th. This represents a $3.52 dividend on an annualized basis and a yield of 2.1%. This is a boost from Northern Trust’s previous quarterly dividend of $0.80. Northern Trust’s dividend payout ratio (DPR) is 30.21%.

Insider Activity at Northern Trust

In other Northern Trust news, Director Robert Moritz, Jr. bought 255 shares of the stock in a transaction dated Wednesday, July 29th. The shares were acquired at an average cost of $179.57 per share, for a total transaction of $45,790.35. Following the completion of the transaction, the director owned 8,400 shares in the company, valued at approximately $1,508,388. The trade was a 3.13% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Thomas South sold 1,800 shares of the company’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $184.90, for a total transaction of $332,820.00. Following the completion of the sale, the executive vice president owned 92,917 shares of the company’s stock, valued at approximately $17,180,353.30. This trade represents a 1.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.66% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Versant Capital Management Inc raised its holdings in shares of Northern Trust by 2.1% in the third quarter. Versant Capital Management Inc now owns 3,379 shares of the asset manager’s stock valued at $572,000 after buying an additional 70 shares during the last quarter. QRG Capital Management Inc. grew its holdings in shares of Northern Trust by 3.8% during the second quarter. QRG Capital Management Inc. now owns 14,181 shares of the asset manager’s stock worth $2,465,000 after buying an additional 520 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its position in Northern Trust by 15.6% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 2,053 shares of the asset manager’s stock valued at $357,000 after acquiring an additional 277 shares during the period. Sequoia Financial Advisors LLC increased its position in Northern Trust by 5.3% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 22,309 shares of the asset manager’s stock valued at $3,878,000 after acquiring an additional 1,121 shares during the period. Finally, Tidal Investments LLC raised its stake in Northern Trust by 9.6% during the 2nd quarter. Tidal Investments LLC now owns 9,353 shares of the asset manager’s stock valued at $1,626,000 after acquiring an additional 821 shares during the last quarter. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Northern Trust Company Profile

Northern Trust Corporation is a financial services company headquartered in Chicago, Illinois. Founded in 1889, the company provides wealth management, asset servicing, asset management and banking services to corporations, institutions, affluent individuals and families, and financial professionals.

Through its wealth management business, Northern Trust offers investment management, financial planning, trust and estate services, private banking, and family office solutions. Its asset servicing and banking operations support institutional investors and businesses with custody, fund administration, securities lending, foreign exchange, treasury services, capital markets, and related banking solutions.

Northern Trust serves clients through operations in the United States and international markets, including Canada, Europe, the Middle East and the Asia-Pacific region.