Northern Trust Corporation (NASDAQ:NTRS) Stock Has Average Price Target of $183.93 According to Brokerages

Shares of Northern Trust Corporation (NASDAQ:NTRS) have received an average rating of “Hold” from the fifteen analysts that are covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $183.47.

Several research firms have recently commented on NTRS. Weiss Ratings downgraded Northern Trust from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday. Morgan Stanley increased their target price on shares of Northern Trust from $173.00 to $177.00 and gave the stock an “underweight” rating in a report on Thursday, October 22nd. Citigroup decreased their target price on shares of Northern Trust from $186.00 to $170.00 and set a “neutral” rating on the stock in a research note on Friday, October 23rd. Capital One Financial set a $190.00 price target on shares of Northern Trust in a report on Tuesday, October 6th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Northern Trust from $185.50 to $185.00 and set a “neutral” rating for the company in a research report on Friday, October 2nd.

Northern Trust Trading Up 0.5%

NTRS opened at $170.35 on Wednesday. The company’s 50 day moving average is $176.41 and its 200 day moving average is $164.90. The company has a market cap of $31.17 billion, a price-to-earnings ratio of 13.35 and a beta of 1.24. Northern Trust has a 12-month low of $121.53 and a 12-month high of $195.78.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings results on Wednesday, October 21st. The asset manager reported $3.40 earnings per share for the quarter, topping the consensus estimate of $2.87 by $0.53. The business had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter in the previous year, the business posted $2.29 earnings per share. The firm’s revenue was up 13.4% on a year-over-year basis. As a group, analysts predict that Northern Trust will post 11.95 EPS for the current fiscal year.

Northern Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 1st. Shareholders of record on Friday, December 4th will be paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Friday, December 4th. Northern Trust’s dividend payout ratio is presently 27.59%.

Insider Transactions at Northern Trust

In other Northern Trust news, EVP Susan Levy sold 3,922 shares of the stock in a transaction that occurred on Monday, October 26th. The shares were sold at an average price of $168.69, for a total transaction of $661,602.18. Following the completion of the sale, the executive vice president directly owned 59,378 shares of the company’s stock, valued at $10,016,474.82. This trade represents a 6.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Thomas South sold 1,800 shares of Northern Trust stock in a transaction that occurred 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 sale, the executive vice president owned 92,917 shares in the company, valued at approximately $17,180,353.30. The trade was a 1.90% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 22,706 shares of company stock worth $3,850,282. Insiders own 0.66% of the company’s stock.

Institutional Trading of Northern Trust

Several hedge funds have recently bought and sold shares of NTRS. BlackRock Inc. purchased a new position in Northern Trust during the 2nd quarter valued at approximately $2,523,781,000. Primecap Management Co. CA purchased a new position in shares of Northern Trust in the second quarter valued at $1,060,553,000. Dimensional Fund Advisors LP grew its holdings in shares of Northern Trust by 1.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,455,996 shares of the asset manager’s stock valued at $342,744,000 after purchasing an additional 36,322 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Northern Trust in the second quarter valued at $361,079,000. Finally, Robeco Institutional Asset Management B.V. increased its position in Northern Trust by 2.0% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,500,961 shares of the asset manager’s stock worth $254,203,000 after purchasing an additional 29,490 shares during the last quarter. Hedge funds and other institutional investors own 83.19% of the company’s stock.

About Northern Trust

Northern Trust Corporation (NASDAQ:NTRS) is a financial services company that provides wealth management, asset servicing, asset management and banking services. The company serves institutional investors, corporations, financial institutions, high-net-worth individuals and families.

Its offerings include custody and administration of investment assets, fund accounting, securities lending, foreign exchange, treasury services, investment management, trust and estate services, private banking and wealth planning.