Northern Trust (NASDAQ:NTRS) Given New $92.00 Price Target at Truist Financial

Northern Trust (NASDAQ:NTRS) had its price objective lowered by Truist Financial from $98.00 to $92.00 in a report published on Wednesday morning,Benzinga reports. Truist Financial currently has a hold rating on the asset manager’s stock.

Several other research firms also recently issued reports on NTRS. Royal Bank of Canada upped their price objective on shares of Northern Trust from $107.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, January 24th. Citigroup dropped their price objective on shares of Northern Trust from $110.00 to $105.00 and set a “neutral” rating for the company in a report on Monday, March 24th. UBS Group boosted their target price on shares of Northern Trust from $110.00 to $114.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Barclays upped their price target on Northern Trust from $115.00 to $118.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Finally, Bank of America reduced their price objective on shares of Northern Trust from $123.00 to $121.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Northern Trust currently has an average rating of “Hold” and an average target price of $110.83.

Northern Trust Trading Up 1.4 %

Shares of NASDAQ NTRS opened at $90.60 on Wednesday. The company has a market cap of $17.73 billion, a price-to-earnings ratio of 9.26, a price-to-earnings-growth ratio of 1.72 and a beta of 1.10. The stock’s 50 day simple moving average is $98.61 and its 200 day simple moving average is $102.71. Northern Trust has a 12-month low of $79.68 and a 12-month high of $114.67. The company has a current ratio of 0.68, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings results on Tuesday, April 22nd. The asset manager reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.05. Northern Trust had a net margin of 12.77% and a return on equity of 13.74%. The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.95 billion. Equities research analysts expect that Northern Trust will post 8.27 EPS for the current year.

Northern Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 6th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 3.31%. The ex-dividend date of this dividend is Friday, June 6th. Northern Trust’s dividend payout ratio (DPR) is currently 30.67%.

Insider Transactions at Northern Trust

In other Northern Trust news, EVP Thomas A. South sold 3,804 shares of the firm’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 sale, the executive vice president now owns 81,794 shares of the company’s stock, valued at approximately $9,242,722. This trade represents a 4.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Jane Karpinski sold 2,262 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $111.33, for a total value of $251,828.46. Following the transaction, the executive vice president now directly owns 17,236 shares of the company’s stock, valued at approximately $1,918,883.88. The trade was a 11.60 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,335 shares of company stock valued at $3,970,211. 0.77% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Northern Trust

Hedge funds have recently modified their holdings of the company. Virtu Financial LLC bought a new stake in Northern Trust during the 3rd quarter worth approximately $667,000. Wilmington Savings Fund Society FSB acquired a new stake in Northern Trust in the third quarter valued at $228,000. Synovus Financial Corp bought a new position in Northern Trust during the 3rd quarter worth $229,000. JPMorgan Chase & Co. lifted its holdings in Northern Trust by 9.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,296,442 shares of the asset manager’s stock worth $386,809,000 after buying an additional 388,692 shares during the period. Finally, Versant Capital Management Inc grew its position in shares of Northern Trust by 34.9% in the 4th quarter. Versant Capital Management Inc now owns 684 shares of the asset manager’s stock valued at $70,000 after buying an additional 177 shares during the last quarter. Institutional investors and hedge funds 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.