Northern Trust (NASDAQ:NTRS) Price Target Lowered to $84.00 at The Goldman Sachs Group

Northern Trust (NASDAQ:NTRS) had its price objective cut by The Goldman Sachs Group from $94.00 to $84.00 in a report published on Tuesday morning, Benzinga reports. They currently have a neutral rating on the asset manager’s stock.

A number of other research analysts also recently issued reports on the stock. Keefe, Bruyette & Woods decreased their price target on shares of Northern Trust from $92.00 to $85.00 and set a market perform rating for the company in a research note on Thursday, June 27th. Evercore ISI boosted their target price on shares of Northern Trust from $86.00 to $87.00 and gave the stock an in-line rating in a research note on Thursday, April 4th. Jefferies Financial Group raised their price target on Northern Trust from $101.00 to $103.00 and gave the company a buy rating in a research note on Thursday, April 18th. Finally, Bank of America upped their price objective on Northern Trust from $93.00 to $101.00 and gave the stock a buy rating in a research report on Wednesday, April 17th. Two investment 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. According to MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $86.42.

Northern Trust Price Performance

NTRS opened at $84.23 on Tuesday. The firm has a market cap of $17.23 billion, a price-to-earnings ratio of 18.59, a PEG ratio of 1.19 and a beta of 1.10. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. The stock’s 50-day moving average price is $83.62 and its 200 day moving average price is $83.17. Northern Trust has a 12-month low of $62.44 and a 12-month high of $89.25.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings results on Tuesday, April 16th. The asset manager reported $1.70 EPS for the quarter, topping the consensus estimate of $1.47 by $0.23. The business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.79 billion. Northern Trust had a net margin of 7.59% and a return on equity of 12.57%. As a group, sell-side analysts expect that Northern Trust will post 6.88 earnings per share for the current year.

Northern Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, June 7th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.56%. Northern Trust’s dividend payout ratio (DPR) is presently 66.23%.

Insider Activity at Northern Trust

In other Northern Trust news, insider Steven L. Fradkin sold 4,097 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $82.56, for a total transaction of $338,248.32. Following the transaction, the insider now directly owns 46,078 shares of the company’s stock, valued at approximately $3,804,199.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Northern Trust news, insider Peter Cherecwich sold 12,000 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $87.09, for a total value of $1,045,080.00. Following the transaction, the insider now directly owns 31,471 shares of the company’s stock, valued at approximately $2,740,809.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Steven L. Fradkin sold 4,097 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $82.56, for a total transaction of $338,248.32. Following the completion of the sale, the insider now owns 46,078 shares of the company’s stock, valued at approximately $3,804,199.68. The disclosure for this sale can be found here. 0.64% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Spartan Planning & Wealth Management increased its position in Northern Trust by 10,566.7% during the 4th quarter. Spartan Planning & Wealth Management now owns 320 shares of the asset manager’s stock worth $27,000 after purchasing an additional 317 shares during the period. Fortitude Family Office LLC purchased a new stake in shares of Northern Trust in the fourth quarter valued at approximately $28,000. Quent Capital LLC grew its holdings in Northern Trust by 77.8% during the fourth quarter. Quent Capital LLC now owns 361 shares of the asset manager’s stock worth $30,000 after acquiring an additional 158 shares during the period. Allworth Financial LP raised its position in Northern Trust by 94.1% in the fourth quarter. Allworth Financial LP now owns 359 shares of the asset manager’s stock worth $30,000 after acquiring an additional 174 shares in the last quarter. Finally, Bruce G. Allen Investments LLC acquired a new stake in Northern Trust in the fourth quarter valued at $45,000. 83.19% of the stock is owned by hedge funds and other institutional investors.

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.