Northern Trust (NASDAQ:NTRS) Price Target Cut to $84.00

Northern Trust (NASDAQ:NTRS) had its price objective lowered by The Goldman Sachs Group from $94.00 to $84.00 in a research report sent to investors on Tuesday, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the asset manager’s stock.

A number of other brokerages have also recently issued reports on NTRS. Bank of America increased their price objective on shares of Northern Trust from $93.00 to $101.00 and gave the company a buy rating in a research note on Wednesday, April 17th. Evercore ISI increased their price target on shares of Northern Trust from $86.00 to $87.00 and gave the stock an in-line rating in a research report on Thursday, April 4th. Keefe, Bruyette & Woods decreased their price objective on Northern Trust from $92.00 to $85.00 and set a market perform rating on the stock in a report on Thursday, June 27th. Finally, Jefferies Financial Group increased their target price on Northern Trust from $101.00 to $103.00 and gave the stock a buy rating in a report on Thursday, April 18th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus price target of $86.42.

Northern Trust Trading Up 0.5 %

Shares of NTRS opened at $84.23 on Tuesday. The stock’s 50-day moving average price is $83.62 and its 200 day moving average price is $83.17. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $17.23 billion, a price-to-earnings ratio of 18.59, a P/E/G ratio of 1.19 and a beta of 1.10. Northern Trust has a 12-month low of $62.44 and a 12-month high of $89.25.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings data on Tuesday, April 16th. The asset manager reported $1.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.23. The business had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.79 billion. Northern Trust had a return on equity of 12.57% and a net margin of 7.59%. As a group, research analysts predict that Northern Trust will post 6.88 earnings per share for the current year.

Northern Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 7th were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date of this dividend was Friday, June 7th. Northern Trust’s dividend payout ratio is currently 66.23%.

Insider Activity

In other Northern Trust news, insider Steven L. Fradkin sold 4,097 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $82.56, for a total transaction of $338,248.32. Following the sale, the insider now owns 46,078 shares of the company’s stock, valued at approximately $3,804,199.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Northern Trust news, insider Steven L. Fradkin sold 4,097 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $82.56, for a total value of $338,248.32. Following the completion of the transaction, the insider now directly owns 46,078 shares of the company’s stock, valued at $3,804,199.68. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Peter Cherecwich sold 12,000 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $87.09, for a total transaction of $1,045,080.00. Following the sale, the insider now directly owns 31,471 shares in the company, valued at $2,740,809.39. The disclosure for this sale can be found here. 0.64% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Northern Trust

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Spartan Planning & Wealth Management increased its position in Northern Trust by 10,566.7% in the fourth quarter. Spartan Planning & Wealth Management now owns 320 shares of the asset manager’s stock worth $27,000 after purchasing an additional 317 shares during the period. Fortitude Family Office LLC bought a new position in shares of Northern Trust in the 4th quarter valued at about $28,000. Quent Capital LLC grew its position in shares of Northern Trust by 77.8% during the 4th quarter. Quent Capital LLC now owns 361 shares of the asset manager’s stock worth $30,000 after buying an additional 158 shares during the period. Allworth Financial LP raised its stake in shares of Northern Trust by 94.1% during the fourth quarter. Allworth Financial LP now owns 359 shares of the asset manager’s stock worth $30,000 after buying an additional 174 shares during the last quarter. Finally, Bruce G. Allen Investments LLC acquired a new position in Northern Trust in the fourth quarter valued at approximately $45,000. 83.19% of the stock is owned by institutional investors and hedge funds.

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.