Northern Trust (NASDAQ:NTRS) Price Target Increased to $103.00 by Analysts at Jefferies Financial Group

Northern Trust (NASDAQ:NTRS) had its target price upped by Jefferies Financial Group from $101.00 to $103.00 in a research note published on Thursday, Benzinga reports. They currently have a buy rating on the asset manager’s stock.

A number of other brokerages have also issued reports on NTRS. TheStreet upgraded shares of Northern Trust from a c+ rating to a b- rating in a research note on Friday, January 12th. Morgan Stanley restated an underweight rating and set a $86.00 price target (up previously from $82.00) on shares of Northern Trust in a research note on Tuesday, January 30th. Barclays upped their price target on shares of Northern Trust from $90.00 to $98.00 and gave the company an equal weight rating in a research note on Tuesday, January 2nd. Bank of America upped their price target on shares of Northern Trust from $93.00 to $101.00 and gave the company a buy rating in a research note on Wednesday. Finally, UBS Group upped their price target on shares of Northern Trust from $72.00 to $84.00 and gave the company a neutral rating in a research note on Tuesday, January 9th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Northern Trust presently has a consensus rating of Hold and an average price target of $84.92.

Northern Trust Trading Up 0.2 %

NASDAQ NTRS opened at $81.41 on Thursday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.61. The firm has a market cap of $16.61 billion, a PE ratio of 17.97, a price-to-earnings-growth ratio of 1.64 and a beta of 1.13. The company has a 50 day moving average price of $83.23 and a 200 day moving average price of $78.84. Northern Trust has a 52 week low of $62.44 and a 52 week high of $89.25.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings data on Thursday, January 18th. The asset manager reported $0.52 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.81). Northern Trust had a return on equity of 12.57% and a net margin of 7.59%. The firm had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter last year, the firm earned $1.65 EPS. The company’s revenue was up 1.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Northern Trust will post 6.73 EPS for the current fiscal year.

Northern Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 7th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 3.69%. The ex-dividend date is Friday, June 7th. Northern Trust’s dividend payout ratio (DPR) is currently 66.23%.

Insider Activity

In other news, insider Steven L. Fradkin sold 30,392 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $80.11, for a total value of $2,434,703.12. Following the sale, the insider now directly owns 55,707 shares of the company’s stock, valued at approximately $4,462,687.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.64% of the company’s stock.

Institutional Trading of Northern Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Spartan Planning & Wealth Management grew its position in Northern Trust by 10,566.7% during the fourth quarter. Spartan Planning & Wealth Management now owns 320 shares of the asset manager’s stock valued at $27,000 after buying an additional 317 shares during the period. Fortitude Family Office LLC acquired a new stake in Northern Trust during the fourth quarter valued at $28,000. Quent Capital LLC grew its position in Northern Trust by 77.8% during the fourth quarter. Quent Capital LLC now owns 361 shares of the asset manager’s stock valued at $30,000 after buying an additional 158 shares during the period. Allworth Financial LP grew its position in Northern Trust by 94.1% during the fourth quarter. Allworth Financial LP now owns 359 shares of the asset manager’s stock valued at $30,000 after buying an additional 174 shares during the period. Finally, Belpointe Asset Management LLC grew its position in Northern Trust by 84.5% during the first quarter. Belpointe Asset Management LLC now owns 393 shares of the asset manager’s stock valued at $35,000 after buying an additional 180 shares during the period. Institutional investors and hedge funds own 83.19% of the company’s stock.

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.