Brokerages Set Northern Trust Co. (NASDAQ:NTRS) Target Price at $112.85

Shares of Northern Trust Co. (NASDAQ:NTRS) have been assigned an average rating of “Hold” from the thirteen research firms that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $112.85.

Several equities analysts recently weighed in on NTRS shares. Keefe, Bruyette & Woods raised their price objective on Northern Trust from $113.00 to $122.00 and gave the company a “market perform” rating in a research note on Friday, January 24th. Morgan Stanley dropped their price target on Northern Trust from $138.00 to $136.00 and set an “equal weight” rating for the company in a research report on Thursday, March 6th. StockNews.com lowered shares of Northern Trust from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Royal Bank of Canada raised their target price on shares of Northern Trust from $107.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, January 24th. Finally, Truist Financial upped their price target on shares of Northern Trust from $110.00 to $116.00 and gave the company a “hold” rating in a report on Friday, January 24th.

Northern Trust Price Performance

Northern Trust stock opened at $100.55 on Tuesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.68. Northern Trust has a one year low of $79.32 and a one year high of $114.67. The company has a market cap of $19.68 billion, a P/E ratio of 10.28, a price-to-earnings-growth ratio of 1.72 and a beta of 1.07. The business has a fifty day moving average of $107.23 and a two-hundred day moving average of $102.71.

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

Northern Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $0.75 dividend. The ex-dividend date is Friday, March 14th. This represents a $3.00 annualized dividend and a yield of 2.98%. Northern Trust’s dividend payout ratio (DPR) is presently 30.67%.

Insider Transactions at Northern Trust

In related news, COO Peter Cherecwich sold 26,132 shares of the company’s stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $112.36, for a total transaction of $2,936,191.52. Following the completion of the transaction, the chief operating officer now owns 26,586 shares of the company’s stock, valued at approximately $2,987,202.96. This represents a 49.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Jane Karpinski sold 2,262 shares of Northern Trust stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $111.33, for a total transaction of $251,828.46. Following the completion of the transaction, the executive vice president now owns 17,236 shares in the company, valued at approximately $1,918,883.88. This trade represents a 11.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,335 shares of company stock worth $3,970,211 over the last quarter. 0.64% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Northern Trust

A number of large investors have recently modified their holdings of NTRS. Ballentine Partners LLC raised its stake in shares of Northern Trust by 4.4% in the 4th quarter. Ballentine Partners LLC now owns 2,483 shares of the asset manager’s stock valued at $255,000 after acquiring an additional 105 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Northern Trust by 24.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,061 shares of the asset manager’s stock worth $2,286,000 after purchasing an additional 4,374 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Northern Trust by 9.9% during the third quarter. JPMorgan Chase & Co. now owns 4,296,442 shares of the asset manager’s stock worth $386,809,000 after purchasing an additional 388,692 shares in the last quarter. Kovitz Investment Group Partners LLC grew its stake in shares of Northern Trust by 68.1% in the third quarter. Kovitz Investment Group Partners LLC now owns 13,765 shares of the asset manager’s stock valued at $1,239,000 after buying an additional 5,578 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Northern Trust by 0.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,267,406 shares of the asset manager’s stock valued at $129,909,000 after buying an additional 8,102 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.