Truist Financial Issues Positive Forecast for Northern Trust (NASDAQ:NTRS) Stock Price

Northern Trust (NASDAQ:NTRS) had its price target lifted by Truist Financial from $110.00 to $116.00 in a research note published on Friday morning,Benzinga reports. The brokerage currently has a hold rating on the asset manager’s stock.

A number of other equities analysts have also commented on NTRS. Bank of America raised their price target on shares of Northern Trust from $103.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Evercore ISI boosted their price target on Northern Trust from $86.00 to $103.00 and gave the company an “in-line” rating in a research note on Thursday, October 24th. StockNews.com lowered Northern Trust from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. The Goldman Sachs Group upped their target price on Northern Trust from $92.00 to $102.00 and gave the company a “sell” rating in a research report on Friday. Finally, Royal Bank of Canada boosted their price target on Northern Trust from $100.00 to $107.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $110.75.

Northern Trust Stock Up 1.3 %

Northern Trust stock opened at $110.92 on Friday. The company’s 50-day moving average price is $105.83 and its two-hundred day moving average price is $96.40. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. 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. Northern Trust has a twelve month low of $76.67 and a twelve month high of $111.87.

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

Northern Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a dividend of $0.75 per share. 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 presently 37.31%.

Insider Buying and Selling at Northern Trust

In other news, COO Peter Cherecwich sold 16,153 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $105.18, for a total value of $1,698,972.54. Following the sale, the chief operating officer now directly owns 4,397 shares of the company’s stock, valued at approximately $462,476.46. This represents a 78.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Thomas A. South sold 5,000 shares of Northern Trust stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $105.80, for a total transaction of $529,000.00. Following the transaction, the executive vice president now directly owns 49,756 shares of the company’s stock, valued at $5,264,184.80. This represents a 9.13 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,253 shares of company stock worth $3,238,073. 0.64% of the stock is currently owned by company insiders.

Institutional Trading of Northern Trust

A number of large investors have recently bought and sold shares of NTRS. Mercer Global Advisors Inc. ADV boosted its stake in Northern Trust by 7.2% during the second quarter. Mercer Global Advisors Inc. ADV now owns 7,487 shares of the asset manager’s stock worth $629,000 after acquiring an additional 500 shares in the last quarter. Pacer Advisors Inc. grew its stake in shares of Northern Trust by 4.5% in the 2nd quarter. Pacer Advisors Inc. now owns 14,809 shares of the asset manager’s stock valued at $1,244,000 after buying an additional 632 shares during the period. ProShare Advisors LLC increased its position in 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 buying an additional 1,172 shares in the last quarter. Public Sector Pension Investment Board raised its stake in 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 worth $2,922,000 after buying an additional 2,201 shares during the period. Finally, Evergreen Capital Management LLC raised its stake 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 buying an additional 380 shares during the period. 83.19% of the stock is currently owned by institutional investors and hedge funds.

About Northern Trust

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.