Northern Trust (NASDAQ:NTRS) Price Target Cut to $104.00 by Analysts at Evercore ISI

Northern Trust (NASDAQ:NTRS) had its price target decreased by Evercore ISI from $113.00 to $104.00 in a research report report published on Tuesday morning,Benzinga reports. Evercore ISI currently has an in-line rating on the asset manager’s stock.

A number of other research firms also recently commented on NTRS. UBS Group lifted their price target on Northern Trust from $110.00 to $114.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Keefe, Bruyette & Woods lifted their target price on Northern Trust from $113.00 to $122.00 and gave the stock a “market perform” rating in a research report on Friday, January 24th. Truist Financial raised their price objective on Northern Trust from $110.00 to $116.00 and gave the stock a “hold” rating in a research note on Friday, January 24th. StockNews.com downgraded shares of Northern Trust from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Finally, Royal Bank of Canada increased their target price on shares of Northern Trust from $107.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $113.54.

Northern Trust Price Performance

NTRS stock opened at $97.95 on Tuesday. The company has a market capitalization of $19.17 billion, a PE ratio of 10.02, a P/E/G ratio of 1.72 and a beta of 1.07. The company has a quick ratio of 0.71, a current ratio of 0.68 and a debt-to-equity ratio of 0.58. The stock’s 50 day moving average is $106.68 and its two-hundred day moving average is $103.14. Northern Trust has a 52-week low of $79.32 and a 52-week high of $114.67.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings results on Thursday, January 23rd. The asset manager reported $2.26 earnings per share (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%. Analysts predict that Northern Trust will post 8.27 earnings per share for the current fiscal year.

Northern Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were issued a dividend of $0.75 per share. The ex-dividend date was Friday, March 14th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.06%. Northern Trust’s dividend payout ratio (DPR) is presently 30.67%.

Insiders Place Their Bets

In other news, COO Peter Cherecwich sold 26,132 shares of the company’s stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $112.36, for a total value of $2,936,191.52. Following the completion of the sale, the chief operating officer now directly owns 26,586 shares of the company’s stock, valued at approximately $2,987,202.96. This represents a 49.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Thomas A. South sold 3,804 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $113.00, for a total transaction of $429,852.00. Following the transaction, the executive vice president now owns 81,794 shares in the company, valued at $9,242,722. This represents a 4.44 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,335 shares of company stock worth $3,970,211. 0.77% of the stock is owned by company insiders.

Institutional Trading of Northern Trust

A number of hedge funds and other institutional investors have recently modified their holdings of NTRS. California State Teachers Retirement System grew its holdings in Northern Trust by 1.4% during the fourth quarter. California State Teachers Retirement System now owns 355,732 shares of the asset manager’s stock worth $36,463,000 after acquiring an additional 5,022 shares during the period. 111 Capital acquired a new position in shares of Northern Trust in the 4th quarter worth approximately $503,000. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Northern Trust by 25.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 19,800 shares of the asset manager’s stock worth $2,030,000 after purchasing an additional 3,993 shares in the last quarter. Siemens Fonds Invest GmbH acquired a new stake in Northern Trust during the fourth quarter valued at approximately $1,152,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Northern Trust during the fourth quarter worth approximately $26,784,000. Institutional investors own 83.19% of the company’s stock.

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.