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

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

A number of other research firms also recently weighed in on NTRS. Wells Fargo & Company cut their price target on shares of Northern Trust from $119.00 to $118.00 and set an “equal weight” rating on the stock in a research note on Friday, March 28th. UBS Group increased their target price on Northern Trust from $110.00 to $114.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. Keefe, Bruyette & Woods boosted their price target on Northern Trust from $113.00 to $122.00 and gave the company a “market perform” rating in a research report on Friday, January 24th. The Goldman Sachs Group raised their price objective on Northern Trust from $92.00 to $102.00 and gave the stock a “sell” rating in a report on Friday, January 24th. Finally, Royal Bank of Canada boosted their target price on Northern Trust from $107.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, January 24th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Northern Trust currently has a consensus rating of “Hold” and an average price target of $112.31.

Northern Trust Price Performance

Shares of NASDAQ:NTRS opened at $86.01 on Friday. The company 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 business has a fifty day simple moving average of $105.63 and a 200-day simple moving average of $103.17. Northern Trust has a 52 week low of $79.32 and a 52 week high of $114.67. The company has a quick ratio of 0.71, a current ratio of 0.68 and a debt-to-equity ratio of 0.58.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings results on Thursday, January 23rd. The asset manager reported $2.26 EPS for the quarter, beating the consensus estimate of $1.96 by $0.30. Northern Trust had a return on equity of 13.74% and a net margin of 12.77%. Equities research analysts forecast that Northern Trust will post 8.27 EPS for the current year.

Northern Trust Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a $0.75 dividend. The ex-dividend date was Friday, March 14th. This represents a $3.00 annualized dividend and a dividend yield of 3.49%. Northern Trust’s dividend payout ratio (DPR) is presently 30.67%.

Insider Activity at Northern Trust

In other news, insider Jason J. Tyler sold 2,237 shares of the stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $112.67, for a total transaction of $252,042.79. Following the completion of the transaction, the insider now directly owns 58,449 shares in the company, valued at approximately $6,585,448.83. This represents a 3.69 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Thomas A. South sold 3,804 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $113.00, for a total transaction of $429,852.00. Following the sale, the executive vice president now directly owns 81,794 shares of the company’s stock, valued at $9,242,722. The trade was a 4.44 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 35,335 shares of company stock valued at $3,970,211. Corporate insiders own 0.77% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in NTRS. Rockefeller Capital Management L.P. increased its position in shares of Northern Trust by 5.5% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 26,830 shares of the asset manager’s stock worth $2,416,000 after purchasing an additional 1,405 shares during the last quarter. HighTower Advisors LLC grew its stake in Northern Trust by 48.8% in the third quarter. HighTower Advisors LLC now owns 26,774 shares of the asset manager’s stock worth $2,431,000 after purchasing an additional 8,781 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its holdings in Northern Trust by 1.5% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 38,755 shares of the asset manager’s stock valued at $3,489,000 after buying an additional 590 shares during the last quarter. Investment Management Corp of Ontario raised its stake in Northern Trust by 47.9% during the third quarter. Investment Management Corp of Ontario now owns 6,794 shares of the asset manager’s stock valued at $612,000 after buying an additional 2,200 shares in the last quarter. Finally, IHT Wealth Management LLC bought a new position in Northern Trust during the 3rd quarter worth approximately $297,000. 83.19% of the stock is currently owned by institutional investors.

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.