Northern Trust (NASDAQ:NTRS) Price Target Cut to $105.00 by Analysts at Royal Bank of Canada

Northern Trust (NASDAQ:NTRS) had its price target lowered by Royal Bank of Canada from $115.00 to $105.00 in a report published on Wednesday,Benzinga reports. The firm currently has an outperform rating on the asset manager’s stock.

A number of other equities research analysts have also issued reports on NTRS. Truist Financial dropped their price target on Northern Trust from $98.00 to $92.00 and set a “hold” rating for the company in a research report on Wednesday. Citigroup reduced their price objective on shares of Northern Trust from $110.00 to $105.00 and set a “neutral” rating on the stock in a report on Monday, March 24th. UBS Group boosted their target price 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 raised their price target on Northern Trust from $113.00 to $122.00 and gave the company a “market perform” rating in a research note on Friday, January 24th. Finally, StockNews.com downgraded Northern Trust from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Northern Trust currently has an average rating of “Hold” and a consensus target price of $110.83.

Northern Trust Stock Up 1.4 %

NTRS opened at $90.60 on Wednesday. The company has a fifty day moving average of $98.61 and a two-hundred day moving average of $102.71. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.68. Northern Trust has a fifty-two week low of $79.68 and a fifty-two week high of $114.67. The stock has a market capitalization of $17.73 billion, a price-to-earnings ratio of 9.26, a PEG ratio of 1.72 and a beta of 1.10.

Northern Trust (NASDAQ:NTRS) last announced its earnings results on Tuesday, April 22nd. The asset manager reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.05. The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.95 billion. Northern Trust had a net margin of 12.77% and a return on equity of 13.74%. On average, research analysts expect that Northern Trust will post 8.27 earnings per share for the current year.

Northern Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 6th will be given a $0.75 dividend. The ex-dividend date is Friday, June 6th. This represents a $3.00 annualized dividend and a dividend yield of 3.31%. Northern Trust’s dividend payout ratio is currently 30.67%.

Insider Buying and Selling

In other Northern Trust news, COO Peter Cherecwich sold 26,132 shares of the firm’s stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $112.36, for a total value of $2,936,191.52. Following 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 trade represents a 49.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Thomas A. South sold 3,804 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $113.00, for a total value of $429,852.00. Following the completion of the transaction, the executive vice president now owns 81,794 shares in the company, valued at approximately $9,242,722. This trade represents a 4.44 % decrease in their ownership of the stock. 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 corporate insiders.

Institutional Trading of Northern Trust

Several large investors have recently modified their holdings of NTRS. Robeco Institutional Asset Management B.V. boosted its holdings in Northern Trust by 20.3% in the first quarter. Robeco Institutional Asset Management B.V. now owns 816,286 shares of the asset manager’s stock valued at $80,527,000 after purchasing an additional 137,825 shares during the last quarter. LaFleur & Godfrey LLC acquired a new stake in shares of Northern Trust during the first quarter worth approximately $359,000. Asset Management One Co. Ltd. increased its stake in shares of Northern Trust by 8.4% in the first quarter. Asset Management One Co. Ltd. now owns 84,974 shares of the asset manager’s stock worth $8,383,000 after buying an additional 6,570 shares during the last quarter. Oppenheimer & Co. Inc. raised its holdings in Northern Trust by 9.4% in the first quarter. Oppenheimer & Co. Inc. now owns 4,443 shares of the asset manager’s stock valued at $438,000 after acquiring an additional 380 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its stake in Northern Trust by 4,790.3% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 113,503 shares of the asset manager’s stock valued at $11,197,000 after acquiring an additional 111,182 shares during the last quarter. 83.19% of the stock is currently owned by institutional investors and hedge funds.

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.