Northern Trust (NASDAQ:NTRS) Stock Gets Price Target Reduction from Citigroup

by · The Markets Daily

Northern Trust (NASDAQ:NTRS – Free Report) had its target price reduced by Citigroup from $186.00 to $170.00 in a report published on Friday morning,Benzinga reports. They currently have a neutral rating on the asset manager’s stock.

Other research analysts have also issued research reports about the company. TD Cowen started coverage on Northern Trust in a report on Thursday, October 8th. They issued a “hold” rating and a $175.00 price target on the stock. Bank of America raised their price objective on Northern Trust from $190.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, July 7th. Capital One Financial set a $190.00 price objective on Northern Trust in a report on Tuesday, October 6th. Morgan Stanley upped their target price on Northern Trust from $173.00 to $177.00 and gave the stock an “underweight” rating in a research report on Thursday. Finally, UBS Group set a $186.00 target price on Northern Trust in a report on Friday, June 26th. Three analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $183.47.

Get Our Latest Stock Analysis on NTRS

Northern Trust Price Performance

Shares of NASDAQ NTRS opened at $167.92 on Friday. The firm has a market capitalization of $30.72 billion, a P/E ratio of 13.16, a P/E/G ratio of 0.93 and a beta of 1.24. The firm’s 50-day moving average price is $177.18 and its 200-day moving average price is $174.01. The company has a current ratio of 0.61, a quick ratio of 0.65 and a debt-to-equity ratio of 0.43. Northern Trust has a 1-year low of $121.53 and a 1-year high of $195.78.

Northern Trust (NASDAQ:NTRS – Get Free Report) last issued its earnings results on Wednesday, October 21st. The asset manager reported $3.40 EPS for the quarter, beating the consensus estimate of $2.87 by $0.53. Northern Trust had a return on equity of 17.97% and a net margin of 15.86%. The company had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same period last year, the business posted $2.29 EPS. The firm’s revenue for the quarter was up 13.4% compared to the same quarter last year. Equities research analysts anticipate that Northern Trust will post 11.95 earnings per share for the current fiscal year.

Northern Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 1st. Stockholders of record on Friday, December 4th will be given a dividend of $0.88 per share. The ex-dividend date of this dividend is Friday, December 4th. This represents a $3.52 annualized dividend and a dividend yield of 2.1%. Northern Trust’s payout ratio is presently 27.59%.

Insider Transactions at Northern Trust

In other Northern Trust news, Director Robert Moritz, Jr. purchased 255 shares of the company’s stock in a transaction that occurred on Wednesday, July 29th. The shares were acquired at an average price of $179.57 per share, with a total value of $45,790.35. Following the transaction, the director owned 8,400 shares in the company, valued at $1,508,388. The trade was a 3.13% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Thomas A. South sold 1,800 shares of the firm’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $184.90, for a total transaction of $332,820.00. Following the completion of the transaction, the executive vice president directly owned 92,917 shares in the company, valued at approximately $17,180,353.30. The trade was a 1.90% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.66% of the company’s stock.

Institutional Trading of Northern Trust

Several institutional investors and hedge funds have recently modified their holdings of NTRS. BlackRock Inc. bought a new position in Northern Trust in the 2nd quarter valued at $2,523,781,000. Primecap Management Co. CA bought a new stake in shares of Northern Trust during the 2nd quarter worth $1,060,553,000. Bank of New York Mellon Corp bought a new stake in shares of Northern Trust during the 2nd quarter worth $361,079,000. Legal & General Group Plc bought a new stake in shares of Northern Trust during the 2nd quarter worth $207,054,000. Finally, Man Group plc purchased a new position in shares of Northern Trust in the 2nd quarter worth about $147,718,000. 83.19% of the stock is owned by hedge funds and other institutional investors.

Northern Trust Company Profile

(Get Free Report)

Northern Trust Corporation (NASDAQ:NTRS) is a financial services company that provides wealth management, asset servicing, asset management and banking services. The company serves institutional investors, corporations, financial institutions, high-net-worth individuals and families.

Its offerings include custody and administration of investment assets, fund accounting, securities lending, foreign exchange, treasury services, investment management, trust and estate services, private banking and wealth planning.

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