Bank of America Lowers Northern Trust (NASDAQ:NTRS) Price Target to $121.00

Northern Trust (NASDAQ:NTRS) had its target price reduced by Bank of America from $123.00 to $121.00 in a report published on Wednesday morning,Benzinga reports. They currently have a buy rating on the asset manager’s stock.

A number of other equities research analysts have also recently weighed in on NTRS. Morgan Stanley lowered their price target on Northern Trust from $138.00 to $136.00 and set an “equal weight” rating on the stock in a report on Thursday, March 6th. UBS Group upped their target price on Northern Trust from $110.00 to $114.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Truist Financial lifted their price target on Northern Trust from $110.00 to $116.00 and gave the stock a “hold” rating in a research note on Friday, January 24th. Royal Bank of Canada increased their price objective on shares of Northern Trust from $107.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, January 24th. Finally, Citigroup cut their target price on shares of Northern Trust from $110.00 to $105.00 and set a “neutral” rating for the company in a research report on Monday, March 24th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Northern Trust has a consensus rating of “Hold” and a consensus price target of $113.69.

Northern Trust Trading Up 0.8 %

NASDAQ:NTRS opened at $98.73 on Wednesday. The stock has a market capitalization of $19.32 billion, a price-to-earnings ratio of 10.10, a PEG ratio of 1.72 and a beta of 1.07. Northern Trust has a 1 year low of $79.32 and a 1 year high of $114.67. The stock has a fifty day moving average price of $106.51 and a two-hundred day moving average price of $103.11. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.68.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings data 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 net margin of 12.77% and a return on equity of 13.74%. As a group, sell-side analysts anticipate that Northern Trust will post 8.27 earnings per share for the current fiscal year.

Northern Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date was Friday, March 14th. Northern Trust’s dividend payout ratio is currently 30.67%.

Insider Activity

In other news, insider Jason J. Tyler sold 2,237 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 58,449 shares in the company, valued at $6,585,448.83. This trade represents a 3.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Landers sold 900 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $111.44, for a total value of $100,296.00. Following the completion of the transaction, the insider now directly owns 7,640 shares of the company’s stock, valued at $851,401.60. This represents a 10.54 % 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 three months. Corporate insiders own 0.77% of the company’s stock.

Institutional Trading of Northern Trust

Several institutional investors have recently added to or reduced their stakes in the stock. Juncture Wealth Strategies LLC raised its stake in shares of Northern Trust by 2.4% in the 4th quarter. Juncture Wealth Strategies LLC now owns 4,212 shares of the asset manager’s stock valued at $432,000 after purchasing an additional 100 shares in the last quarter. Ballentine Partners LLC increased its holdings in Northern Trust by 4.4% in the fourth quarter. Ballentine Partners LLC now owns 2,483 shares of the asset manager’s stock valued at $255,000 after buying an additional 105 shares during the last quarter. Pallas Capital Advisors LLC raised its stake in Northern Trust by 1.8% during the fourth quarter. Pallas Capital Advisors LLC now owns 6,091 shares of the asset manager’s stock valued at $624,000 after buying an additional 107 shares in the last quarter. Ellevest Inc. lifted its holdings in Northern Trust by 3.4% during the 4th quarter. Ellevest Inc. now owns 3,410 shares of the asset manager’s stock worth $350,000 after buying an additional 113 shares during the last quarter. Finally, Bradley Foster & Sargent Inc. CT grew its position in shares of Northern Trust by 2.4% in the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 4,774 shares of the asset manager’s stock worth $489,000 after acquiring an additional 114 shares in the last quarter. 83.19% of the stock is 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.