Deutsche Bank Aktiengesellschaft Boosts Northern Trust (NASDAQ:NTRS) Price Target to $94.00

Northern Trust (NASDAQ:NTRS) had its price objective hoisted by Deutsche Bank Aktiengesellschaft from $84.00 to $94.00 in a research report released on Monday morning, Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a hold rating on the asset manager’s stock.

A number of other equities analysts have also issued reports on NTRS. Royal Bank of Canada increased their target price on shares of Northern Trust from $86.00 to $90.00 and gave the company an outperform rating in a research report on Thursday, July 18th. The Goldman Sachs Group decreased their price objective on shares of Northern Trust from $94.00 to $84.00 and set a neutral rating for the company in a report on Tuesday, July 2nd. Keefe, Bruyette & Woods dropped their target price on Northern Trust from $92.00 to $85.00 and set a market perform rating on the stock in a report on Thursday, June 27th. Finally, Morgan Stanley decreased their price target on Northern Trust from $97.00 to $93.00 and set an underweight rating for the company in a research note on Tuesday, July 30th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Northern Trust currently has an average rating of Hold and a consensus price target of $89.58.

Northern Trust Price Performance

NASDAQ NTRS opened at $90.79 on Monday. The company has a 50-day moving average price of $87.62 and a two-hundred day moving average price of $85.43. The stock has a market cap of $18.31 billion, a price-to-earnings ratio of 20.04, a price-to-earnings-growth ratio of 1.53 and a beta of 1.08. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. Northern Trust has a 52 week low of $62.44 and a 52 week high of $92.82.

Northern Trust (NASDAQ:NTRS) last posted its earnings results on Wednesday, July 17th. The asset manager reported $1.78 EPS for the quarter, beating the consensus estimate of $1.75 by $0.03. Northern Trust had a return on equity of 12.24% and a net margin of 10.53%. The firm had revenue of $2.72 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same period last year, the firm earned $1.79 EPS. The firm’s revenue was up 53.8% compared to the same quarter last year. Analysts forecast that Northern Trust will post 7.01 EPS for the current year.

Northern Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date of this dividend is Friday, September 6th. Northern Trust’s dividend payout ratio is presently 66.23%.

Insiders Place Their Bets

In other news, EVP Teresa Parker sold 5,883 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $84.06, for a total transaction of $494,524.98. Following the sale, the executive vice president now owns 83,765 shares in the company, valued at $7,041,285.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Teresa Parker sold 5,883 shares of Northern Trust stock in a transaction on Friday, August 9th. The stock was sold at an average price of $84.06, for a total transaction of $494,524.98. Following the transaction, the executive vice president now owns 83,765 shares in the company, valued at $7,041,285.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mark C. Gossett sold 6,000 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $88.90, for a total value of $533,400.00. Following the completion of the sale, the executive vice president now directly owns 28,707 shares of the company’s stock, valued at $2,552,052.30. The disclosure for this sale can be found here. Insiders sold a total of 13,738 shares of company stock worth $1,191,388 over the last ninety days. 0.64% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC purchased a new position in shares of Northern Trust during the 2nd quarter valued at $1,622,000. Quarry LP purchased a new position in Northern Trust in the second quarter valued at about $130,000. Creative Planning increased its position in Northern Trust by 7.6% in the 2nd quarter. Creative Planning now owns 23,614 shares of the asset manager’s stock worth $1,983,000 after purchasing an additional 1,665 shares during the last quarter. MBB Public Markets I LLC purchased a new stake in shares of Northern Trust during the 2nd quarter worth about $1,286,000. Finally, D. E. Shaw & Co. Inc. lifted its holdings in shares of Northern Trust by 5.4% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 510,425 shares of the asset manager’s stock valued at $42,865,000 after buying an additional 26,083 shares during the last quarter. 83.19% of the stock is owned by hedge funds and other institutional investors.

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.