Evercore ISI Raises Northern Trust (NASDAQ:NTRS) Price Target to $103.00

Northern Trust (NASDAQ:NTRS) had its target price raised by Evercore ISI from $86.00 to $103.00 in a report released on Thursday, Benzinga reports. They currently have an in-line rating on the asset manager’s stock.

Other analysts have also issued research reports about the stock. Morgan Stanley boosted their target price on shares of Northern Trust from $93.00 to $97.00 and gave the company an “underweight” rating in a research note on Monday, September 30th. Royal Bank of Canada increased their price objective on shares of Northern Trust from $86.00 to $90.00 and gave the stock an “outperform” rating in a research note on Thursday, July 18th. UBS Group raised their target price on shares of Northern Trust from $86.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, October 8th. Keefe, Bruyette & Woods lowered their target price on Northern Trust from $92.00 to $85.00 and set a “market perform” rating for the company in a report on Thursday, June 27th. Finally, Barclays raised their price target on Northern Trust from $98.00 to $115.00 and gave the stock an “equal weight” rating in a report on Thursday. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Northern Trust presently has a consensus rating of “Hold” and a consensus price target of $99.33.

Northern Trust Price Performance

Shares of NTRS opened at $100.19 on Thursday. Northern Trust has a 52 week low of $63.43 and a 52 week high of $104.25. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The firm has a market cap of $20.50 billion, a price-to-earnings ratio of 22.12, a PEG ratio of 1.65 and a beta of 1.08. The stock has a 50 day moving average of $91.10 and a 200-day moving average of $86.73.

Northern Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 6th will be given a $0.75 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.00 dividend on an annualized basis and a yield of 2.99%. Northern Trust’s dividend payout ratio is presently 66.23%.

Insiders Place Their Bets

In related news, EVP Teresa Parker sold 5,883 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $84.06, for a total transaction of $494,524.98. Following the transaction, the executive vice president now owns 83,765 shares in the company, valued at $7,041,285.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Northern Trust news, Director Charles A. Tribbett sold 1,855 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $88.12, for a total value of $163,462.60. Following the completion of the sale, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $88,120. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Teresa Parker sold 5,883 shares of Northern Trust stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $84.06, for a total transaction of $494,524.98. Following the completion of the transaction, the executive vice president now directly owns 83,765 shares in the company, valued at $7,041,285.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,738 shares of company stock worth $1,191,388. 0.64% of the stock is owned by corporate insiders.

Institutional Trading of Northern Trust

A number of large investors have recently added to or reduced their stakes in NTRS. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Northern Trust by 2.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 12,861 shares of the asset manager’s stock worth $1,144,000 after acquiring an additional 302 shares in the last quarter. Romano Brothers AND Company boosted its position in shares of Northern Trust by 11.2% in the 1st quarter. Romano Brothers AND Company now owns 5,450 shares of the asset manager’s stock valued at $485,000 after purchasing an additional 548 shares during the period. Aviance Capital Partners LLC increased its stake in Northern Trust by 8.3% in the 1st quarter. Aviance Capital Partners LLC now owns 9,301 shares of the asset manager’s stock worth $827,000 after purchasing an additional 716 shares in the last quarter. Diversified Trust Co raised its holdings in Northern Trust by 98.3% during the 1st quarter. Diversified Trust Co now owns 16,914 shares of the asset manager’s stock worth $1,504,000 after buying an additional 8,383 shares during the period. Finally, Claro Advisors LLC lifted its stake in Northern Trust by 18.3% during the first quarter. Claro Advisors LLC now owns 9,439 shares of the asset manager’s stock valued at $839,000 after buying an additional 1,460 shares in the last quarter. 83.19% of the stock is currently owned by 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.