Northern Trust (NASDAQ:NTRS – Free Report) had its target price lifted by Evercore ISI from $108.00 to $121.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Evercore ISI currently has an in-line rating on the asset manager’s stock.
Several other research analysts also recently issued reports on the company. Citigroup lowered their price objective on Northern Trust from $110.00 to $105.00 and set a “neutral” rating for the company in a research note on Monday, March 24th. Bank of America decreased their price target on shares of Northern Trust from $123.00 to $121.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. Royal Bank Of Canada cut their price target on shares of Northern Trust from $115.00 to $105.00 and set an “outperform” rating on the stock in a report on Wednesday, April 23rd. Morgan Stanley boosted their price objective on shares of Northern Trust from $103.00 to $106.00 and gave the stock an “underweight” rating in a research note on Tuesday. Finally, Truist Financial decreased their price objective on Northern Trust from $98.00 to $92.00 and set a “hold” rating for the company in a report on Wednesday, April 23rd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $111.83.
Check Out Our Latest Stock Analysis on Northern Trust
Northern Trust Stock Up 3.2%
Northern Trust (NASDAQ:NTRS – Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The asset manager reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.05. The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.95 billion. Northern Trust had a return on equity of 13.73% and a net margin of 13.93%. On average, equities analysts predict that Northern Trust will post 8.27 EPS for the current fiscal year.
Northern Trust Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Friday, June 6th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, June 6th. This represents a $3.00 dividend on an annualized basis and a yield of 2.27%. Northern Trust’s dividend payout ratio (DPR) is currently 27.99%.
Insider Transactions at Northern Trust
In related news, insider Teresa Parker sold 6,467 shares of the firm’s stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $100.62, for a total transaction of $650,709.54. Following the completion of the sale, the insider owned 79,391 shares of the company’s stock, valued at $7,988,322.42. This trade represents a 7.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Clive Bellows sold 3,300 shares of Northern Trust stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $99.95, for a total value of $329,835.00. Following the completion of the sale, the executive vice president owned 28,736 shares of the company’s stock, valued at approximately $2,872,163.20. The trade was a 10.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,772 shares of company stock valued at $981,069. Company insiders own 0.77% of the company’s stock.
Institutional Trading of Northern Trust
Several large investors have recently modified their holdings of NTRS. Norges Bank acquired a new position in shares of Northern Trust during the 4th quarter valued at $83,550,000. Bank of New York Mellon Corp raised its holdings in shares of Northern Trust by 47.8% during the first quarter. Bank of New York Mellon Corp now owns 1,810,816 shares of the asset manager’s stock valued at $178,637,000 after purchasing an additional 585,992 shares during the period. Royal Bank of Canada raised its holdings in shares of Northern Trust by 60.2% during the fourth quarter. Royal Bank of Canada now owns 1,497,484 shares of the asset manager’s stock valued at $153,493,000 after purchasing an additional 562,976 shares during the period. Invesco Ltd. grew its stake in shares of Northern Trust by 19.3% in the 1st quarter. Invesco Ltd. now owns 3,443,599 shares of the asset manager’s stock valued at $339,711,000 after buying an additional 558,287 shares during the period. Finally, Cerity Partners LLC grew its stake in shares of Northern Trust by 451.9% in the 4th quarter. Cerity Partners LLC now owns 555,631 shares of the asset manager’s stock valued at $56,866,000 after buying an additional 454,956 shares during the period. Institutional investors and hedge funds own 83.19% of the company’s stock.
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.
Featured Stories
- Five stocks we like better than Northern Trust
- What is the NASDAQ Stock Exchange?
- Jefferies Raises Broadcom Price Target to $315: 19% Upside Ahead
- Profitably Trade Stocks at 52-Week Highs
- Whiplash for Investors: AeroVironment’s Confusing Stock Signals
- What Investors Need to Know About Upcoming IPOs
- The Ultimate Trump Bump: These Gov’t Backed Stocks Are Exploding
Receive News & Ratings for Northern Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Northern Trust and related companies with MarketBeat.com's FREE daily email newsletter.