Analysts Set Northern Trust Co. (NASDAQ:NTRS) Price Target at $109.42

Shares of Northern Trust Co. (NASDAQ:NTRS) have been assigned an average rating of “Hold” from the nineteen brokerages that are presently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $109.42.

Several research analysts have recently issued reports on the company. Deutsche Bank cut Northern Trust from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $104.00 to $91.00 in a research report on Tuesday. BidaskClub cut Northern Trust from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 11th. Bank of America reaffirmed a “neutral” rating and set a $97.00 price objective (down from $107.00) on shares of Northern Trust in a research report on Thursday, June 6th. Morgan Stanley lowered their price objective on Northern Trust from $100.00 to $95.00 and set an “underweight” rating for the company in a research report on Wednesday, June 5th. Finally, Zacks Investment Research cut Northern Trust from a “buy” rating to a “hold” rating in a research report on Friday, May 17th.

NTRS opened at $85.74 on Tuesday. Northern Trust has a 12 month low of $75.96 and a 12 month high of $115.61. The firm has a market cap of $18.66 billion, a P/E ratio of 12.74, a P/E/G ratio of 1.32 and a beta of 1.16. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.35.

Northern Trust (NASDAQ:NTRS) last released its earnings results on Tuesday, April 23rd. The asset manager reported $1.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.46 by $0.02. Northern Trust had a return on equity of 16.03% and a net margin of 22.44%. The firm had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.47 billion. During the same period in the previous year, the firm posted $1.58 EPS. Northern Trust’s revenue for the quarter was up .3% on a year-over-year basis. As a group, research analysts forecast that Northern Trust will post 6.71 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.80%. The ex-dividend date is Thursday, June 13th. Northern Trust’s payout ratio is currently 35.66%.

In other news, EVP Robert P. Browne sold 12,156 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $86.88, for a total value of $1,056,113.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Teresa Parker sold 3,000 shares of the business’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $97.50, for a total value of $292,500.00. The disclosure for this sale can be found here. 1.15% of the stock is currently owned by insiders.

Several institutional investors have recently bought and sold shares of NTRS. Norges Bank purchased a new stake in shares of Northern Trust in the 4th quarter valued at about $133,737,000. American Century Companies Inc. raised its stake in Northern Trust by 27.9% during the 1st quarter. American Century Companies Inc. now owns 5,452,010 shares of the asset manager’s stock valued at $492,916,000 after acquiring an additional 1,190,787 shares during the last quarter. Vanguard Group Inc raised its stake in Northern Trust by 3.5% during the 3rd quarter. Vanguard Group Inc now owns 15,444,690 shares of the asset manager’s stock valued at $1,577,366,000 after acquiring an additional 517,705 shares during the last quarter. First Trust Advisors LP raised its stake in Northern Trust by 438.6% during the 1st quarter. First Trust Advisors LP now owns 520,929 shares of the asset manager’s stock valued at $47,097,000 after acquiring an additional 424,216 shares during the last quarter. Finally, Eaton Vance Management raised its stake in Northern Trust by 145.3% during the 4th quarter. Eaton Vance Management now owns 714,636 shares of the asset manager’s stock valued at $59,737,000 after acquiring an additional 423,360 shares during the last quarter. 78.80% of the stock is 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, Corporate & Institutional Services (C&IS) and Wealth Management.

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Analyst Recommendations for Northern Trust (NASDAQ:NTRS)

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