Evercore ISI Issues Pessimistic Forecast for Northern Trust (NASDAQ:NTRS) Stock Price

by · The Cerbat Gem

Northern Trust (NASDAQ:NTRS – Free Report) had its price objective decreased by Evercore ISI from $113.00 to $104.00 in a research note released on Tuesday morning,Benzinga reports. Evercore ISI currently has an in-line rating on the asset manager’s stock.

A number of other equities analysts have also issued reports on NTRS. Keefe, Bruyette & Woods raised their price target on shares of Northern Trust from $113.00 to $122.00 and gave the stock a “market perform” rating in a research report on Friday, January 24th. The Goldman Sachs Group boosted their target price on shares of Northern Trust from $92.00 to $102.00 and gave the company a “sell” rating in a research report on Friday, January 24th. Citigroup cut their price target on Northern Trust from $110.00 to $105.00 and set a “neutral” rating on the stock in a research report on Monday, March 24th. Truist Financial boosted their price objective on Northern Trust from $110.00 to $116.00 and gave the company a “hold” rating in a report on Friday, January 24th. Finally, Barclays raised their target price 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 investment analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $113.69.

Read Our Latest Report on NTRS

Northern Trust Price Performance

Shares of NTRS opened at $90.58 on Tuesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.68 and a quick ratio of 0.71. The company’s fifty day moving average price is $106.13 and its 200-day moving average price is $103.02. Northern Trust has a 1-year low of $79.32 and a 1-year high of $114.67. The firm has a market capitalization of $17.73 billion, a PE ratio of 9.26, a price-to-earnings-growth ratio of 1.72 and a beta of 1.07.

Northern Trust (NASDAQ:NTRS – Get Free Report) last posted its quarterly earnings results on Thursday, January 23rd. The asset manager reported $2.26 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.30. Northern Trust had a return on equity of 13.74% and a net margin of 12.77%. On average, equities research analysts predict that Northern Trust will post 8.27 EPS for the current year.

Northern Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 3.31%. The ex-dividend date of this dividend was Friday, March 14th. Northern Trust’s payout ratio is 30.67%.

Insider Activity at Northern Trust

In related news, insider John Landers sold 900 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $111.44, for a total transaction of $100,296.00. Following the completion of the transaction, the insider now owns 7,640 shares in the company, valued at $851,401.60. This represents a 10.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Thomas A. South sold 3,804 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $113.00, for a total transaction of $429,852.00. Following the completion of the transaction, the executive vice president now directly owns 81,794 shares in the company, valued at $9,242,722. This 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 have sold 35,335 shares of company stock valued at $3,970,211. 0.77% of the stock is owned by company insiders.

Hedge Funds Weigh In On Northern Trust

A number of hedge funds have recently made changes to their positions in NTRS. Y.D. More Investments Ltd increased its position in shares of Northern Trust by 118.4% during the fourth quarter. Y.D. More Investments Ltd now owns 249 shares of the asset manager’s stock worth $26,000 after purchasing an additional 135 shares in the last quarter. Colonial Trust Co SC lifted its holdings in Northern Trust by 6,400.0% in the 4th quarter. Colonial Trust Co SC now owns 260 shares of the asset manager’s stock valued at $27,000 after purchasing an additional 256 shares in the last quarter. Empirical Asset Management LLC acquired a new stake in Northern Trust during the 4th quarter worth $33,000. Brooklyn Investment Group grew its holdings in shares of Northern Trust by 51.2% during the fourth quarter. Brooklyn Investment Group now owns 378 shares of the asset manager’s stock worth $39,000 after buying an additional 128 shares in the last quarter. Finally, Assetmark Inc. raised its position in shares of Northern Trust by 528.3% in the fourth quarter. Assetmark Inc. now owns 377 shares of the asset manager’s stock valued at $39,000 after buying an additional 317 shares during the last quarter. Institutional investors and hedge funds own 83.19% of the company’s stock.

Northern Trust Company Profile

(Get Free Report)

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.

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