Northern Trust (NASDAQ:NTRS) had its price target boosted by Morgan Stanley from $89.00 to $93.00 in a research report released on Tuesday, BenzingaRatingsTable reports. Morgan Stanley currently has an underweight rating on the asset manager’s stock.

A number of other analysts have also issued reports on NTRS. Citigroup lowered Northern Trust from a neutral rating to a sell rating and dropped their target price for the stock from $94.00 to $85.00 in a research report on Friday, July 12th. Deutsche Bank dropped their target price on Northern Trust from $91.00 to $87.00 and set a hold rating on the stock in a research report on Wednesday, August 21st. Wells Fargo & Co set a $110.00 target price on Northern Trust and gave the stock a buy rating in a research report on Friday, August 16th. BidaskClub raised Northern Trust from a sell rating to a hold rating in a research report on Thursday, September 12th. Finally, Bank of America reaffirmed a neutral rating and set a $97.00 target price (down from $107.00) on shares of Northern Trust in a research report on Thursday, June 6th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $104.28.

NASDAQ:NTRS opened at $94.27 on Tuesday. The business’s 50-day moving average is $90.12 and its two-hundred day moving average is $91.77. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.64 and a quick ratio of 0.64. Northern Trust has a 12 month low of $75.96 and a 12 month high of $107.37. The firm has a market capitalization of $20.70 billion, a PE ratio of 14.53, a price-to-earnings-growth ratio of 1.71 and a beta of 1.19.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings data on Wednesday, July 24th. The asset manager reported $1.75 EPS for the quarter, beating the consensus estimate of $1.68 by $0.07. Northern Trust had a return on equity of 15.74% and a net margin of 22.20%. The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same period last year, the company posted $1.68 earnings per share. The firm’s revenue was down .1% compared to the same quarter last year. Equities analysts anticipate that Northern Trust will post 6.6 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.97%. This is a positive change from Northern Trust’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Thursday, September 12th. Northern Trust’s payout ratio is presently 41.60%.

In related news, CFO Biff Bowman sold 46,204 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $92.81, for a total value of $4,288,193.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Thomas A. South sold 1,000 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $98.54, for a total value of $98,540.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 100,411 shares of company stock valued at $9,682,259. 1.15% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in NTRS. Litman Gregory Asset Management LLC bought a new stake in Northern Trust in the second quarter valued at about $25,000. Resources Investment Advisors Inc. increased its holdings in Northern Trust by 194.2% in the first quarter. Resources Investment Advisors Inc. now owns 306 shares of the asset manager’s stock valued at $28,000 after buying an additional 202 shares during the last quarter. Trust Co. of Vermont increased its holdings in Northern Trust by 750.0% in the second quarter. Trust Co. of Vermont now owns 340 shares of the asset manager’s stock valued at $31,000 after buying an additional 300 shares during the last quarter. Kavar Capital Partners LLC bought a new stake in Northern Trust in the second quarter valued at about $32,000. Finally, Oakworth Capital Inc. bought a new stake in Northern Trust in the second quarter valued at about $34,000. 80.33% of the stock is owned by hedge funds and other institutional investors.

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, Corporate & Institutional Services (C&IS) and Wealth Management.

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Analyst Recommendations for Northern Trust (NASDAQ:NTRS)

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