Wells Fargo & Company Cuts Northern Trust (NASDAQ:NTRS) Price Target to $118.00

Northern Trust (NASDAQ:NTRS) had its price target reduced by Wells Fargo & Company from $119.00 to $118.00 in a research note issued to investors on Friday,Benzinga reports. They currently have an equal weight rating on the asset manager’s stock.

Several other research firms have also recently commented on NTRS. Royal Bank of Canada upped their target price on shares of Northern Trust from $107.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, January 24th. The Goldman Sachs Group increased their price objective on Northern Trust from $92.00 to $102.00 and gave the stock a “sell” rating in a report on Friday, January 24th. Truist Financial raised their target price on Northern Trust from $110.00 to $116.00 and gave the company a “hold” rating in a research report on Friday, January 24th. UBS Group boosted their price target on Northern Trust from $110.00 to $114.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. Finally, Barclays raised their price target on Northern Trust from $115.00 to $118.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $113.46.

Northern Trust Trading Down 3.4 %

Shares of NASDAQ NTRS opened at $97.15 on Friday. Northern Trust has a 12-month low of $79.32 and a 12-month high of $114.67. The company has a market cap of $19.01 billion, a price-to-earnings ratio of 9.93, a price-to-earnings-growth ratio of 1.72 and a beta of 1.07. The company has a current ratio of 0.68, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The stock’s 50 day simple moving average is $107.04 and its 200 day simple moving average is $102.99.

Northern Trust (NASDAQ:NTRS) last posted its earnings results on Thursday, January 23rd. The asset manager reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $0.30. Northern Trust had a return on equity of 13.74% and a net margin of 12.77%. Equities research 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 will be paid on Tuesday, April 1st. Stockholders 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 dividend yield of 3.09%. Northern Trust’s dividend payout ratio (DPR) is 30.67%.

Insider Buying and Selling

In other Northern Trust news, EVP Thomas A. South sold 3,804 shares of Northern Trust stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $113.00, for a total value of $429,852.00. Following the transaction, the executive vice president now owns 81,794 shares in the company, valued at approximately $9,242,722. The trade was a 4.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider John Landers sold 900 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $111.44, for a total value of $100,296.00. Following the sale, the insider now owns 7,640 shares of the company’s stock, valued at $851,401.60. This trade represents a 10.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,335 shares of company stock worth $3,970,211 in the last ninety days. 0.77% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Northern Trust

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Ballentine Partners LLC boosted its holdings in shares of Northern Trust by 4.4% in the fourth quarter. Ballentine Partners LLC now owns 2,483 shares of the asset manager’s stock worth $255,000 after buying an additional 105 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in Northern Trust by 24.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,061 shares of the asset manager’s stock worth $2,286,000 after purchasing an additional 4,374 shares during the period. JPMorgan Chase & Co. grew its position in Northern Trust by 9.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,296,442 shares of the asset manager’s stock worth $386,809,000 after purchasing an additional 388,692 shares in the last quarter. Kovitz Investment Group Partners LLC raised its stake in Northern Trust by 68.1% during the 3rd quarter. Kovitz Investment Group Partners LLC now owns 13,765 shares of the asset manager’s stock valued at $1,239,000 after purchasing an additional 5,578 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Northern Trust by 0.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,267,406 shares of the asset manager’s stock valued at $129,909,000 after purchasing an additional 8,102 shares in the last quarter. Institutional investors and hedge funds 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.