Analysts Set Northern Trust Co. (NASDAQ:NTRS) Target Price at $84.92

Shares of Northern Trust Co. (NASDAQ:NTRS) have earned an average recommendation of “Hold” from the ten analysts that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $84.92.

Several equities research analysts recently commented on the company. Bank of America raised their target price on Northern Trust from $93.00 to $101.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Morgan Stanley reissued an “underweight” rating and issued a $86.00 price objective (up previously from $82.00) on shares of Northern Trust in a research note on Tuesday, January 30th. Jefferies Financial Group raised their price objective on Northern Trust from $101.00 to $103.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Evercore ISI raised their price objective on Northern Trust from $86.00 to $87.00 and gave the company an “in-line” rating in a research note on Thursday, April 4th. Finally, Royal Bank of Canada raised their price objective on Northern Trust from $82.00 to $86.00 and gave the company an “outperform” rating in a research note on Friday, January 19th.

Northern Trust Trading Up 0.5 %

NASDAQ NTRS opened at $85.02 on Friday. The business has a 50 day simple moving average of $84.07 and a 200 day simple moving average of $80.36. Northern Trust has a one year low of $62.44 and a one year high of $89.25. The stock has a market capitalization of $17.39 billion, a P/E ratio of 18.77, a P/E/G ratio of 1.21 and a beta of 1.13. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.71.

Northern Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 7th will be issued 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 3.53%. Northern Trust’s dividend payout ratio (DPR) is currently 66.23%.

Insider Buying and Selling

In other Northern Trust news, insider Steven L. Fradkin sold 4,097 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $82.56, for a total value of $338,248.32. Following the completion of the sale, the insider now directly owns 46,078 shares of the company’s stock, valued at $3,804,199.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Northern Trust news, insider Steven L. Fradkin sold 4,097 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $82.56, for a total value of $338,248.32. Following the completion of the sale, the insider now directly owns 46,078 shares of the company’s stock, valued at $3,804,199.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Steven L. Fradkin sold 30,392 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $80.11, for a total value of $2,434,703.12. Following the completion of the sale, the insider now directly owns 55,707 shares of the company’s stock, valued at $4,462,687.77. The disclosure for this sale can be found here. 0.64% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Northern Trust

Several hedge funds have recently made changes to their positions in NTRS. Wellington Management Group LLP grew its position in shares of Northern Trust by 140.2% in the fourth quarter. Wellington Management Group LLP now owns 5,802,792 shares of the asset manager’s stock valued at $489,640,000 after purchasing an additional 3,387,002 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Northern Trust by 31.2% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 6,533,855 shares of the asset manager’s stock worth $551,327,000 after buying an additional 1,553,783 shares during the last quarter. Confluence Investment Management LLC bought a new position in shares of Northern Trust in the 1st quarter worth $105,665,000. Norges Bank bought a new position in shares of Northern Trust in the 4th quarter worth $90,532,000. Finally, Primecap Management Co. CA increased its holdings in shares of Northern Trust by 6.1% in the 4th quarter. Primecap Management Co. CA now owns 6,891,902 shares of the asset manager’s stock worth $581,539,000 after buying an additional 394,855 shares during the last quarter. 83.19% of the stock is currently owned by hedge funds and other institutional investors.

Northern Trust Company Profile

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.