Northern Trust (NASDAQ:NTRS) Price Target Raised to $92.00 at UBS Group

Northern Trust (NASDAQ:NTRS) had its price objective increased by UBS Group from $86.00 to $92.00 in a report released on Tuesday morning, Benzinga reports. They currently have a neutral rating on the asset manager’s stock.

A number of other analysts also recently issued reports on NTRS. Keefe, Bruyette & Woods lowered their price target on shares of Northern Trust from $92.00 to $85.00 and set a market perform rating on the stock in a report on Thursday, June 27th. The Goldman Sachs Group downgraded shares of Northern Trust from a neutral rating to a sell rating and lowered their price target for the stock from $84.00 to $82.00 in a report on Thursday, September 26th. Royal Bank of Canada increased their price objective on shares of Northern Trust from $86.00 to $90.00 and gave the company an outperform rating in a report on Thursday, July 18th. Morgan Stanley increased their price objective on shares of Northern Trust from $93.00 to $97.00 and gave the company an underweight rating in a report on Monday, September 30th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Northern Trust from $84.00 to $94.00 and gave the company a hold rating in a report on Monday, September 23rd. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Hold and an average target price of $90.42.

Northern Trust Stock Performance

NTRS opened at $92.17 on Tuesday. The firm has a fifty day moving average price of $88.27 and a 200 day moving average price of $86.01. Northern Trust has a 1 year low of $62.44 and a 1 year high of $93.50. The stock has a market cap of $18.59 billion, a P/E ratio of 12.61, a P/E/G ratio of 1.44 and a beta of 1.08. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings results on Wednesday, July 17th. The asset manager reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.03. Northern Trust had a net margin of 10.53% and a return on equity of 12.24%. The firm had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the prior year, the firm posted $1.79 earnings per share. The firm’s quarterly revenue was up 53.8% compared to the same quarter last year. Equities research analysts anticipate that Northern Trust will post 7.04 earnings per share for the current year.

Northern Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 3.25%. The ex-dividend date of this dividend was Friday, September 6th. Northern Trust’s dividend payout ratio is currently 41.04%.

Insider Transactions at Northern Trust

In other news, Director Charles A. Tribbett sold 1,855 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $88.12, for a total value of $163,462.60. Following the transaction, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $88,120. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, EVP Teresa Parker sold 5,883 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $84.06, for a total transaction 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 approximately $7,041,285.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Charles A. Tribbett sold 1,855 shares of the firm’s stock in a transaction dated 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 trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,738 shares of company stock valued at $1,191,388. Corporate insiders own 0.64% of the company’s stock.

Institutional Investors Weigh In On Northern Trust

Several hedge funds and other institutional investors have recently bought and sold shares of NTRS. Olistico Wealth LLC acquired a new stake in shares of Northern Trust during the second quarter valued at about $25,000. Innealta Capital LLC acquired a new stake in shares of Northern Trust during the second quarter valued at about $26,000. Spartan Planning & Wealth Management increased its position in shares of Northern Trust by 10,566.7% during the fourth quarter. Spartan Planning & Wealth Management now owns 320 shares of the asset manager’s stock valued at $27,000 after acquiring an additional 317 shares during the last quarter. Ridgewood Investments LLC acquired a new stake in shares of Northern Trust during the second quarter valued at about $30,000. Finally, Versant Capital Management Inc increased its position in shares of Northern Trust by 343.9% during the second quarter. Versant Capital Management Inc now owns 435 shares of the asset manager’s stock valued at $37,000 after acquiring an additional 337 shares during the last quarter. 83.19% of the stock is currently owned by institutional investors and hedge funds.

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.