Northern Trust (NASDAQ:NTRS) Price Target Cut to $98.00 by Analysts at Truist Financial

Northern Trust (NASDAQ:NTRS) had its price target reduced by Truist Financial from $116.00 to $98.00 in a research report report published on Friday morning,Benzinga reports. They currently have a hold rating on the asset manager’s stock.

Several other equities analysts have also weighed in on the stock. Royal Bank of Canada raised their price objective on shares of Northern Trust from $107.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, January 24th. Citigroup reduced their price objective on shares of Northern Trust from $110.00 to $105.00 and set a “neutral” rating for the company in a research note on Monday, March 24th. UBS Group raised their target price on Northern Trust from $110.00 to $114.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Wells Fargo & Company decreased their price target on Northern Trust from $119.00 to $118.00 and set an “equal weight” rating for the company in a research note on Friday, March 28th. Finally, Evercore ISI cut their price objective on Northern Trust from $113.00 to $104.00 and set an “in-line” rating on the stock in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $112.31.

Northern Trust Stock Performance

NTRS stock opened at $86.01 on Friday. Northern Trust has a 52 week low of $79.32 and a 52 week high of $114.67. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.68. The stock has a market cap of $16.83 billion, a P/E ratio of 8.79, a P/E/G ratio of 1.72 and a beta of 1.10. The firm has a 50 day simple moving average of $105.63 and a 200 day simple moving average of $102.99.

Northern Trust (NASDAQ:NTRS) last issued its earnings results on Thursday, January 23rd. The asset manager reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $1.96 by $0.30. Northern Trust had a return on equity of 13.74% and a net margin of 12.77%. Research analysts anticipate that Northern Trust will post 8.27 earnings per share for the current fiscal year.

Northern Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were issued a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $3.00 annualized dividend and a dividend yield of 3.49%. Northern Trust’s payout ratio is 30.67%.

Insider Activity at Northern Trust

In related news, EVP Thomas A. South sold 3,804 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $113.00, for a total value of $429,852.00. Following the completion of the transaction, the executive vice president now directly owns 81,794 shares in the company, valued at approximately $9,242,722. This represents a 4.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider John Landers sold 900 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $111.44, for a total transaction of $100,296.00. Following the completion of the sale, the insider now directly owns 7,640 shares in the company, valued at $851,401.60. This trade represents a 10.54 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,335 shares of company stock worth $3,970,211. Company insiders own 0.77% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NTRS. Y.D. More Investments Ltd boosted its stake in Northern Trust by 118.4% in the 4th quarter. Y.D. More Investments Ltd now owns 249 shares of the asset manager’s stock valued at $26,000 after buying an additional 135 shares in the last quarter. Colonial Trust Co SC boosted its position in Northern Trust by 6,400.0% in the fourth quarter. Colonial Trust Co SC now owns 260 shares of the asset manager’s stock valued at $27,000 after buying an additional 256 shares in the last quarter. Empirical Asset Management LLC acquired a new position in Northern Trust in the fourth quarter valued at about $33,000. Brooklyn Investment Group raised its stake in shares of Northern Trust by 51.2% in the fourth quarter. Brooklyn Investment Group now owns 378 shares of the asset manager’s stock valued at $39,000 after acquiring an additional 128 shares during the last quarter. Finally, Assetmark Inc. boosted its holdings in shares of Northern Trust by 528.3% in the 4th quarter. Assetmark Inc. now owns 377 shares of the asset manager’s stock worth $39,000 after acquiring an additional 317 shares in the last quarter. Institutional investors own 83.19% of the company’s stock.

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.