Northern Trust (NASDAQ:NTRS) Given New $122.00 Price Target at Keefe, Bruyette & Woods

Northern Trust (NASDAQ:NTRS) had its price target boosted by Keefe, Bruyette & Woods from $113.00 to $122.00 in a research report report published on Friday morning,Benzinga reports. They currently have a market perform rating on the asset manager’s stock.

NTRS has been the subject of several other reports. UBS Group boosted their price objective on Northern Trust from $86.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, October 8th. Wells Fargo & Company raised their price objective on shares of Northern Trust from $108.00 to $110.00 and gave the stock an “equal weight” rating in a report on Friday, November 15th. The Goldman Sachs Group increased their target price on Northern Trust from $92.00 to $102.00 and gave the stock a “sell” rating in a report on Friday. Truist Financial assumed coverage on Northern Trust in a report on Tuesday, January 7th. They issued a “hold” rating and a $110.00 price target on the stock. Finally, Barclays increased their price objective on Northern Trust from $115.00 to $118.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $110.75.

Northern Trust Stock Up 1.3 %

Shares of NASDAQ NTRS opened at $110.92 on Friday. Northern Trust has a 52-week low of $76.67 and a 52-week high of $111.87. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a market cap of $21.99 billion, a P/E ratio of 13.80, a P/E/G ratio of 1.22 and a beta of 1.08. The firm has a 50 day moving average price of $105.83 and a 200 day moving average price of $96.40.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings data on Thursday, January 23rd. The asset manager reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $1.96 by $0.30. Northern Trust had a net margin of 10.92% and a return on equity of 12.75%. Analysts expect that Northern Trust will post 7.56 EPS for the current year.

Northern Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $0.75 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.00 annualized dividend and a yield of 2.70%. Northern Trust’s dividend payout ratio is currently 37.31%.

Insider Transactions at Northern Trust

In related news, Vice Chairman Steven L. Fradkin sold 9,100 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $111.00, for a total transaction of $1,010,100.00. Following the sale, the insider now owns 47,797 shares of the company’s stock, valued at $5,305,467. This represents a 15.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Thomas A. South sold 5,000 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $105.80, for a total value of $529,000.00. Following the completion of the transaction, the executive vice president now directly owns 49,756 shares of the company’s stock, valued at approximately $5,264,184.80. This trade represents a 9.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,253 shares of company stock worth $3,238,073 over the last quarter. Company insiders own 0.64% of the company’s stock.

Institutional Trading of Northern Trust

A number of institutional investors and hedge funds have recently made changes to their positions in NTRS. Mercer Global Advisors Inc. ADV boosted its holdings in shares of Northern Trust by 7.2% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 7,487 shares of the asset manager’s stock valued at $629,000 after purchasing an additional 500 shares in the last quarter. Pacer Advisors Inc. raised its stake in Northern Trust by 4.5% during the second quarter. Pacer Advisors Inc. now owns 14,809 shares of the asset manager’s stock worth $1,244,000 after acquiring an additional 632 shares in the last quarter. ProShare Advisors LLC boosted its stake in shares of Northern Trust by 2.2% in the 2nd quarter. ProShare Advisors LLC now owns 54,590 shares of the asset manager’s stock valued at $4,584,000 after purchasing an additional 1,172 shares in the last quarter. Public Sector Pension Investment Board grew its holdings in shares of Northern Trust by 6.8% during the 2nd quarter. Public Sector Pension Investment Board now owns 34,791 shares of the asset manager’s stock valued at $2,922,000 after purchasing an additional 2,201 shares during the last quarter. Finally, Evergreen Capital Management LLC increased its position in Northern Trust by 8.2% during the 2nd quarter. Evergreen Capital Management LLC now owns 5,025 shares of the asset manager’s stock worth $426,000 after purchasing an additional 380 shares in the last quarter. Institutional investors own 83.19% of the company’s stock.

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.