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

Northern Trust (NASDAQ:NTRS) had its target price lowered by Truist Financial from $116.00 to $98.00 in a research note published on Friday morning,Benzinga reports. The brokerage currently has a hold rating on the asset manager’s stock.

Other equities research analysts have also recently issued research reports about the stock. The Goldman Sachs Group lifted their price target on shares of Northern Trust from $92.00 to $102.00 and gave the stock a “sell” rating in a research report on Friday, January 24th. StockNews.com downgraded Northern Trust from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Wells Fargo & Company decreased their price objective on Northern Trust from $119.00 to $118.00 and set an “equal weight” rating for the company in a research note on Friday, March 28th. Royal Bank of Canada raised 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. Finally, Barclays increased their price target on shares of Northern Trust from $115.00 to $118.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $112.31.

Northern Trust Price Performance

Shares of NTRS stock opened at $86.01 on Friday. The company has a current ratio of 0.68, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $16.83 billion, a price-to-earnings ratio of 8.79, a PEG ratio of 1.72 and a beta of 1.10. The firm’s 50 day moving average is $105.63 and its 200-day moving average is $102.99. Northern Trust has a 1 year low of $79.32 and a 1 year high of $114.67.

Northern Trust (NASDAQ:NTRS) last released its 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%. Sell-side analysts forecast that Northern Trust will post 8.27 EPS for the current fiscal year.

Northern Trust Announces Dividend

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

Insider Buying and Selling at Northern Trust

In other news, EVP Thomas A. South sold 3,804 shares of Northern Trust stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $113.00, for a total value of $429,852.00. Following the sale, the executive vice president now directly owns 81,794 shares in the company, valued at $9,242,722. This trade represents a 4.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jane Karpinski sold 2,262 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $111.33, for a total transaction of $251,828.46. Following the completion of the transaction, the executive vice president now directly owns 17,236 shares of the company’s stock, valued at approximately $1,918,883.88. This trade represents a 11.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,335 shares of company stock valued at $3,970,211 in the last 90 days. 0.77% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

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

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.