Northern Trust (NASDAQ:NTRS) Price Target Raised to $103.00

Northern Trust (NASDAQ:NTRS) had its price target boosted by Jefferies Financial Group from $101.00 to $103.00 in a report published on Thursday, Benzinga reports. They currently have a buy rating on the asset manager’s stock.

A number of other research analysts have also issued reports on NTRS. Morgan Stanley reissued an underweight rating and issued a $86.00 target price (up previously from $82.00) on shares of Northern Trust in a report on Tuesday, January 30th. Evercore ISI boosted their target price on Northern Trust from $86.00 to $87.00 and gave the company an in-line rating in a report on Thursday, April 4th. Wolfe Research lowered Northern Trust from a peer perform rating to an underperform rating and set a $85.00 target price on the stock. in a report on Wednesday, January 3rd. UBS Group boosted their target price on Northern Trust from $72.00 to $84.00 and gave the company a neutral rating in a report on Tuesday, January 9th. Finally, Royal Bank of Canada boosted their target price on Northern Trust from $82.00 to $86.00 and gave the company an outperform rating in a report on Friday, January 19th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $84.92.

Northern Trust Trading Up 0.0 %

NTRS opened at $81.45 on Thursday. The firm has a market cap of $16.62 billion, a price-to-earnings ratio of 17.98, a price-to-earnings-growth ratio of 1.17 and a beta of 1.13. Northern Trust has a 52 week low of $62.44 and a 52 week high of $89.25. The business’s 50 day moving average is $83.26 and its two-hundred day moving average is $79.02. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.61.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings results on Thursday, January 18th. The asset manager reported $0.52 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.81). The firm had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.71 billion. Northern Trust had a return on equity of 12.57% and a net margin of 7.59%. The company’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period last year, the firm earned $1.65 EPS. On average, research analysts predict that Northern Trust will post 6.82 EPS for the current year.

Northern Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be given a dividend of $0.75 per share. The ex-dividend date is Friday, June 7th. This represents a $3.00 dividend on an annualized basis and a yield of 3.68%. Northern Trust’s payout ratio is 66.23%.

Insiders Place Their Bets

In other Northern Trust news, insider Steven L. Fradkin sold 30,392 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $80.11, for a total transaction of $2,434,703.12. Following the sale, the insider now directly owns 55,707 shares in the company, valued at $4,462,687.77. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.64% of the stock is owned by company insiders.

Institutional Trading of Northern Trust

Institutional investors have recently bought and sold shares of the company. Spartan Planning & Wealth Management lifted its position in shares of Northern Trust by 10,566.7% in the fourth quarter. Spartan Planning & Wealth Management now owns 320 shares of the asset manager’s stock valued at $27,000 after acquiring an additional 317 shares in the last quarter. Fortitude Family Office LLC purchased a new stake in shares of Northern Trust in the fourth quarter valued at $28,000. Quent Capital LLC lifted its position in shares of Northern Trust by 77.8% in the fourth quarter. Quent Capital LLC now owns 361 shares of the asset manager’s stock valued at $30,000 after acquiring an additional 158 shares in the last quarter. Allworth Financial LP lifted its position in shares of Northern Trust by 94.1% in the fourth quarter. Allworth Financial LP now owns 359 shares of the asset manager’s stock valued at $30,000 after acquiring an additional 174 shares in the last quarter. Finally, Belpointe Asset Management LLC lifted its position in shares of Northern Trust by 84.5% in the first quarter. Belpointe Asset Management LLC now owns 393 shares of the asset manager’s stock valued at $35,000 after acquiring an additional 180 shares in 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.