Northern Trust (NASDAQ:NTRS) Price Target Raised to $135.00

Northern Trust (NASDAQ:NTRS) had its price objective increased by Evercore ISI from $125.00 to $135.00 in a research report released on Tuesday morning,Benzinga reports. They currently have an in-line rating on the asset manager’s stock.

Several other equities research analysts also recently weighed in on the stock. Wolfe Research raised shares of Northern Trust from an “underperform” rating to a “peer perform” rating in a report on Thursday, July 24th. Truist Financial boosted their price target on shares of Northern Trust from $128.00 to $132.00 and gave the stock a “hold” rating in a research report on Thursday, August 14th. The Goldman Sachs Group set a $135.00 price target on shares of Northern Trust in a research report on Tuesday. Barclays boosted their price target on shares of Northern Trust from $128.00 to $136.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 24th. Finally, Wall Street Zen upgraded shares of Northern Trust from a “sell” rating to a “hold” rating in a research report on Friday, September 26th. Three research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $126.50.

Northern Trust Stock Performance

NTRS stock opened at $133.24 on Tuesday. The company has a market capitalization of $25.48 billion, a P/E ratio of 15.66, a PEG ratio of 1.56 and a beta of 1.31. The company has a 50-day simple moving average of $129.41 and a 200 day simple moving average of $114.35. Northern Trust has a fifty-two week low of $81.62 and a fifty-two week high of $135.48. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.58.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings data on Wednesday, July 23rd. The asset manager reported $2.13 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.05. The business had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.96 billion. Northern Trust had a net margin of 11.75% and a return on equity of 14.06%. The company’s quarterly revenue was down 26.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.34 earnings per share. Sell-side analysts predict that Northern Trust will post 8.27 earnings per share for the current fiscal year.

Northern Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Friday, September 5th were issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 2.4%. The ex-dividend date was Friday, September 5th. This is a boost from Northern Trust’s previous quarterly dividend of $0.75. Northern Trust’s dividend payout ratio is presently 37.60%.

Insider Transactions at Northern Trust

In other Northern Trust news, Director Robert Edward Jr. Moritz bought 256 shares of the stock in a transaction on Wednesday, August 13th. The shares were bought at an average price of $126.34 per share, with a total value of $32,343.04. Following the purchase, the director directly owned 2,525 shares in the company, valued at $319,008.50. The trade was a 11.28% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.77% of the company’s stock.

Hedge Funds Weigh In On Northern Trust

Several institutional investors and hedge funds have recently bought and sold shares of NTRS. Wealth Enhancement Advisory Services LLC grew its stake in Northern Trust by 25.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 19,800 shares of the asset manager’s stock valued at $2,030,000 after acquiring an additional 3,993 shares in the last quarter. GAMMA Investing LLC grew its stake in Northern Trust by 10,340.5% during the 1st quarter. GAMMA Investing LLC now owns 445,602 shares of the asset manager’s stock valued at $43,959,000 after acquiring an additional 441,334 shares in the last quarter. Parallel Advisors LLC grew its stake in Northern Trust by 11.4% during the 1st quarter. Parallel Advisors LLC now owns 1,773 shares of the asset manager’s stock valued at $175,000 after acquiring an additional 182 shares in the last quarter. Rhumbline Advisers increased its holdings in Northern Trust by 5.8% in the first quarter. Rhumbline Advisers now owns 373,515 shares of the asset manager’s stock worth $36,847,000 after buying an additional 20,531 shares during the last quarter. Finally, Czech National Bank raised its position in Northern Trust by 4.7% during the first quarter. Czech National Bank now owns 45,011 shares of the asset manager’s stock valued at $4,440,000 after acquiring an additional 2,033 shares in the last quarter. Hedge funds and other institutional investors own 83.19% of the company’s stock.

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.