Evercore ISI Cuts Northern Trust (NASDAQ:NTRS) Price Target to $104.00

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

Several other analysts also recently issued reports on the stock. Morgan Stanley decreased their price objective on shares of Northern Trust from $138.00 to $136.00 and set an “equal weight” rating for the company in a research note on Thursday, March 6th. Citigroup dropped their price objective on Northern Trust from $110.00 to $105.00 and set a “neutral” rating for the company in a report on Monday, March 24th. Truist Financial increased their target price on Northern Trust from $110.00 to $116.00 and gave the stock a “hold” rating in a research note on Friday, January 24th. Keefe, Bruyette & Woods boosted their target price on shares of 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, Wells Fargo & Company reduced their price target on shares of Northern Trust from $119.00 to $118.00 and set an “equal weight” rating on the stock in a research note on Friday, March 28th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $113.69.

Northern Trust Price Performance

Shares of Northern Trust stock opened at $90.58 on Tuesday. The stock has a 50 day moving average price of $106.13 and a 200-day moving average price of $103.02. Northern Trust has a one year low of $79.32 and a one year high of $114.67. The stock has a market cap of $17.73 billion, a price-to-earnings ratio of 9.26, a price-to-earnings-growth ratio of 1.72 and a beta of 1.07. 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 (NASDAQ:NTRS) last posted its quarterly earnings data on Thursday, January 23rd. The asset manager reported $2.26 EPS for the quarter, topping the consensus estimate of $1.96 by $0.30. Northern Trust had a net margin of 12.77% and a return on equity of 13.74%. Equities analysts expect that Northern Trust will post 8.27 EPS for the current year.

Northern Trust Announces Dividend

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

Insiders Place Their Bets

In other Northern Trust news, insider Jason J. Tyler sold 2,237 shares of Northern Trust stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $112.67, for a total value of $252,042.79. Following the transaction, the insider now owns 58,449 shares in the company, valued at $6,585,448.83. The trade was a 3.69 % decrease in their ownership of the stock. 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 business’s stock in a transaction dated Wednesday, February 19th. The stock was 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 owns 81,794 shares of the company’s stock, 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. Insiders sold a total of 35,335 shares of company stock worth $3,970,211 over the last 90 days. Company insiders own 0.77% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of NTRS. Y.D. More Investments Ltd boosted its stake in Northern Trust by 118.4% in the fourth quarter. Y.D. More Investments Ltd now owns 249 shares of the asset manager’s stock valued at $26,000 after acquiring an additional 135 shares in the last quarter. Colonial Trust Co SC boosted its position in shares of Northern Trust by 6,400.0% in the 4th quarter. Colonial Trust Co SC now owns 260 shares of the asset manager’s stock worth $27,000 after purchasing an additional 256 shares in the last quarter. Empirical Asset Management LLC purchased a new position in Northern Trust during the 4th quarter worth $33,000. Brooklyn Investment Group increased its position in Northern Trust by 51.2% during the 4th quarter. Brooklyn Investment Group now owns 378 shares of the asset manager’s stock valued at $39,000 after buying an additional 128 shares in the last quarter. Finally, Assetmark Inc. raised its stake in 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. Hedge funds and other 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.