Northern Trust (NASDAQ:NTRS) Stock Price Down 2.8%

Shares of Northern Trust Co. (NASDAQ:NTRS) were down 2.8% during mid-day trading on Thursday . The stock traded as low as $87.95 and last traded at $88.26. Approximately 130,215 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 1,309,906 shares. The stock had previously closed at $90.79.

Analysts Set New Price Targets

A number of brokerages recently commented on NTRS. Royal Bank of Canada increased their price target on Northern Trust from $86.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. Morgan Stanley reduced their price target on shares of Northern Trust from $97.00 to $93.00 and set an “underweight” rating on the stock in a research report on Tuesday, July 30th. Keefe, Bruyette & Woods dropped their price objective on shares of Northern Trust from $92.00 to $85.00 and set a “market perform” rating for the company in a research note on Thursday, June 27th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Northern Trust from $84.00 to $94.00 and gave the company a “hold” rating in a research report on Monday. Finally, The Goldman Sachs Group lowered Northern Trust from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $84.00 to $82.00 in a research report on Thursday. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $89.42.

Northern Trust Stock Down 0.9 %

The company has a market cap of $18.15 billion, a P/E ratio of 19.66, a P/E/G ratio of 1.53 and a beta of 1.08. The company has a 50-day simple moving average of $87.72 and a 200 day simple moving average of $85.47. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings data on Wednesday, July 17th. The asset manager reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.03. The company had revenue of $2.72 billion during the quarter, compared to analyst estimates of $1.84 billion. Northern Trust had a net margin of 10.53% and a return on equity of 12.24%. The firm’s revenue for the quarter was up 53.8% on a year-over-year basis. During the same quarter last year, the business posted $1.79 EPS. On average, equities analysts anticipate that Northern Trust Co. will post 7.01 EPS for the current year.

Northern Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th will be issued a dividend of $0.75 per share. The ex-dividend date is Friday, September 6th. This represents a $3.00 annualized dividend and a yield of 3.33%. Northern Trust’s payout ratio is currently 66.23%.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Northern Trust

Institutional investors have recently added to or reduced their stakes in the stock. UBS Group AG lifted its position in shares of Northern Trust by 123.7% during the fourth quarter. UBS Group AG now owns 300,042 shares of the asset manager’s stock valued at $25,318,000 after buying an additional 165,923 shares during the last quarter. Quest Partners LLC acquired a new stake in Northern Trust in the fourth quarter valued at approximately $61,000. US Bancorp DE grew its holdings in Northern Trust by 1.8% in the fourth quarter. US Bancorp DE now owns 27,976 shares of the asset manager’s stock worth $2,361,000 after purchasing an additional 500 shares during the last quarter. Parallel Advisors LLC increased its position in shares of Northern Trust by 18.4% during the fourth quarter. Parallel Advisors LLC now owns 1,317 shares of the asset manager’s stock worth $111,000 after purchasing an additional 205 shares in the last quarter. Finally, TD Asset Management Inc lifted its holdings in shares of Northern Trust by 5.1% during the 4th quarter. TD Asset Management Inc now owns 70,473 shares of the asset manager’s stock valued at $5,947,000 after purchasing an additional 3,398 shares during the last quarter. Institutional investors own 83.19% of the company’s stock.

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.