Northern Trust (NASDAQ:NTRS) Price Target Raised to $175.00

Northern Trust (NASDAQ:NTRS) had its price target upped by TD Cowen from $165.00 to $175.00 in a research note issued to investors on Monday morning,Benzinga reports. TD Cowen currently has a buy rating on the asset manager’s stock.

Other equities research analysts also recently issued reports about the stock. Evercore ISI boosted their price target on shares of Northern Trust from $142.00 to $155.00 and gave the stock an “in-line” rating in a research note on Friday, January 23rd. Morgan Stanley lifted their target price on shares of Northern Trust from $131.00 to $140.00 and gave the stock an “underweight” rating in a report on Friday, January 23rd. Truist Financial set a $148.00 target price on shares of Northern Trust in a research report on Wednesday, January 7th. Wells Fargo & Company raised their price target on Northern Trust from $145.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Friday, January 23rd. Finally, Citigroup lifted their price objective on Northern Trust from $135.00 to $143.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 30th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $148.75.

Northern Trust Price Performance

Northern Trust stock opened at $150.25 on Monday. The business’s 50-day simple moving average is $139.39 and its 200 day simple moving average is $132.36. The stock has a market cap of $28.42 billion, a price-to-earnings ratio of 17.19, a P/E/G ratio of 1.21 and a beta of 1.27. Northern Trust has a 12-month low of $81.62 and a 12-month high of $157.60. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.57.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings data on Friday, January 30th. The asset manager reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.37 by $0.05. The firm had revenue of $3.15 billion during the quarter. Northern Trust had a return on equity of 14.87% and a net margin of 12.15%.The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.26 earnings per share. As a group, research analysts anticipate that Northern Trust will post 8.27 earnings per share for the current year.

Northern Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 6th will be given a $0.80 dividend. The ex-dividend date is Friday, March 6th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.1%. Northern Trust’s dividend payout ratio is currently 36.61%.

Insiders Place Their Bets

In other news, insider John Landers sold 766 shares of the firm’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $124.35, for a total transaction of $95,252.10. Following the sale, the insider owned 7,313 shares of the company’s stock, valued at $909,371.55. This trade represents a 9.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert Edward Jr. Moritz acquired 3,891 shares of the business’s stock in a transaction dated Tuesday, November 4th. The shares were acquired at an average price of $128.57 per share, for a total transaction of $500,265.87. Following the acquisition, the director directly owned 6,686 shares in the company, valued at $859,619.02. This represents a 139.21% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have sold 53,357 shares of company stock valued at $7,370,987. Insiders own 0.77% of the company’s stock.

Institutional Trading of Northern Trust

Several hedge funds have recently bought and sold shares of NTRS. New Age Alpha Advisors LLC boosted its holdings in shares of Northern Trust by 4.9% in the third quarter. New Age Alpha Advisors LLC now owns 1,659 shares of the asset manager’s stock valued at $223,000 after buying an additional 78 shares during the period. Salomon & Ludwin LLC lifted its position in Northern Trust by 13.1% in the 3rd quarter. Salomon & Ludwin LLC now owns 682 shares of the asset manager’s stock valued at $90,000 after acquiring an additional 79 shares in the last quarter. New York Life Investment Management LLC boosted its stake in Northern Trust by 0.3% in the 2nd quarter. New York Life Investment Management LLC now owns 29,132 shares of the asset manager’s stock worth $3,694,000 after purchasing an additional 80 shares during the period. Compound Planning Inc. increased its holdings in Northern Trust by 5.1% during the 3rd quarter. Compound Planning Inc. now owns 1,666 shares of the asset manager’s stock worth $224,000 after purchasing an additional 81 shares in the last quarter. Finally, Apollon Wealth Management LLC increased its holdings in Northern Trust by 1.9% during the 4th quarter. Apollon Wealth Management LLC now owns 4,379 shares of the asset manager’s stock worth $598,000 after purchasing an additional 81 shares in the last quarter. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Northern Trust Company Profile

Northern Trust Corporation (NASDAQ: NTRS) is a global financial services firm headquartered in Chicago that provides asset servicing, asset management and wealth management solutions to institutions, corporations and high-net-worth individuals. The company’s core businesses include custody and fund administration, investment operations outsourcing, trust and fiduciary services, private banking, and retirement and defined contribution plan services.

Northern Trust’s product and service offerings span custody and fund accounting, portfolio and performance analytics, securities lending, cash management and foreign exchange, as well as discretionary and non-discretionary investment management.