Northern Trust (NASDAQ:NTRS) Price Target Raised to $185.50

Northern Trust (NASDAQ:NTRS) had its target price increased by JPMorgan Chase & Co. from $179.50 to $185.50 in a report published on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the asset manager’s stock.

Several other analysts have also recently issued reports on the stock. Truist Financial boosted their price objective on shares of Northern Trust from $176.00 to $186.00 and gave the company a “hold” rating in a research note on Friday, June 26th. Royal Bank Of Canada lowered shares of Northern Trust from an “outperform” rating to a “sector perform” rating and set a $178.00 price target on the stock. in a report on Wednesday, July 22nd. Bank of America lifted their price target on shares of Northern Trust from $190.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. BMO Capital Markets upgraded shares of Northern Trust from a “market perform” rating to an “outperform” rating and set a $168.00 price objective for the company in a research note on Monday, April 6th. Finally, Zacks Research upgraded shares of Northern Trust from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $180.68.

Northern Trust Stock Down 0.1%

NTRS opened at $184.14 on Tuesday. Northern Trust has a 12 month low of $121.12 and a 12 month high of $191.60. The business has a 50-day moving average of $177.48 and a two-hundred day moving average of $160.31. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.65 and a quick ratio of 0.65. The stock has a market capitalization of $33.69 billion, a price-to-earnings ratio of 15.81, a price-to-earnings-growth ratio of 1.04 and a beta of 1.25.

Northern Trust Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 4th will be given a $0.88 dividend. The ex-dividend date of this dividend is Friday, September 4th. This is a positive change from Northern Trust’s previous quarterly dividend of $0.80. This represents a $3.52 annualized dividend and a dividend yield of 1.9%. Northern Trust’s dividend payout ratio (DPR) is currently 27.47%.

Insider Activity

In related news, Director Robert Edward Jr. Moritz bought 255 shares of the company’s stock in a transaction that occurred on 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 acquisition, the director owned 8,400 shares in the company, valued at $1,508,388. This represents a 3.13% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.66% of the company’s stock.

Hedge Funds Weigh In On Northern Trust

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Empowered Funds LLC lifted its position in shares of Northern Trust by 13.3% during the first quarter. Empowered Funds LLC now owns 20,112 shares of the asset manager’s stock worth $1,984,000 after purchasing an additional 2,363 shares in the last quarter. Woodline Partners LP grew its holdings in Northern Trust by 39.1% during the 1st quarter. Woodline Partners LP now owns 16,557 shares of the asset manager’s stock valued at $1,633,000 after purchasing an additional 4,653 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in Northern Trust by 79.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the asset manager’s stock worth $171,000 after buying an additional 596 shares during the period. WINTON GROUP Ltd purchased a new stake in Northern Trust during the 2nd quarter worth $267,000. Finally, Daiwa Securities Group Inc. lifted its holdings in Northern Trust by 4.6% in the 2nd quarter. Daiwa Securities Group Inc. now owns 29,290 shares of the asset manager’s stock worth $3,714,000 after buying an additional 1,275 shares in the last quarter. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Northern Trust Company Profile

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.