Northern Trust (NASDAQ:NTRS) Given New $175.00 Price Target at Keefe, Bruyette & Woods

Northern Trust (NASDAQ:NTRS) had its target price increased by Keefe, Bruyette & Woods from $157.00 to $175.00 in a research report released on Thursday morning,Benzinga reports. The brokerage currently has an underperform rating on the asset manager’s stock.

Several other research analysts have also commented on NTRS. UBS Group set a $186.00 price objective on shares of Northern Trust in a report on Friday, June 26th. Barclays boosted their price target on shares of Northern Trust from $160.00 to $176.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 22nd. Royal Bank Of Canada raised their price objective on shares of Northern Trust from $159.00 to $178.00 and gave the stock an “outperform” rating in a report on Wednesday, April 22nd. Zacks Research raised Northern Trust from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. Finally, Bank of America upped their target price on Northern Trust from $190.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $178.75.

Northern Trust Stock Up 1.6%

NASDAQ NTRS opened at $182.86 on Thursday. Northern Trust has a 1 year low of $118.99 and a 1 year high of $185.57. The stock has a market capitalization of $33.84 billion, a PE ratio of 19.15, a PEG ratio of 1.15 and a beta of 1.25. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.62 and a quick ratio of 0.62. The business’s 50-day moving average is $170.15 and its 200 day moving average is $154.54.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings data on Tuesday, April 21st. The asset manager reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.37 by $0.34. The firm had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.13 billion. Northern Trust had a return on equity of 15.94% and a net margin of 12.84%.The business’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same period last year, the company earned $1.90 EPS. Sell-side analysts forecast that Northern Trust will post 11.29 earnings per share for the current year.

Northern Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Friday, June 5th were issued a dividend of $0.80 per share. The ex-dividend date was Friday, June 5th. This represents a $3.20 annualized dividend and a dividend yield of 1.7%. Northern Trust’s dividend payout ratio (DPR) is presently 33.51%.

Insider Transactions at Northern Trust

In other news, Director Robert Edward Jr. Moritz acquired 225 shares of Northern Trust stock in a transaction on Friday, May 1st. The stock was acquired at an average cost of $166.41 per share, for a total transaction of $37,442.25. Following the purchase, the director owned 8,145 shares in the company, valued at $1,355,409.45. This trade represents a 2.84% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Clive Bellows sold 2,800 shares of the company’s stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $165.02, for a total transaction of $462,056.00. Following the completion of the transaction, the insider owned 28,217 shares in the company, valued at approximately $4,656,369.34. This represents a 9.03% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 22,800 shares of company stock valued at $3,785,251 in the last quarter. 0.66% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Czech National Bank lifted its holdings in Northern Trust by 3.8% in the second quarter. Czech National Bank now owns 52,671 shares of the asset manager’s stock valued at $9,156,000 after acquiring an additional 1,923 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Northern Trust by 7.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 3,728 shares of the asset manager’s stock valued at $648,000 after purchasing an additional 270 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Northern Trust by 10.4% in the 2nd quarter. GAMMA Investing LLC now owns 8,479 shares of the asset manager’s stock worth $1,474,000 after purchasing an additional 798 shares during the period. Central Pacific Bank Trust Division boosted its holdings in shares of Northern Trust by 22.2% in the second quarter. Central Pacific Bank Trust Division now owns 4,400 shares of the asset manager’s stock worth $765,000 after buying an additional 800 shares during the last quarter. Finally, RDA Financial Network purchased a new position in shares of Northern Trust in the second quarter worth approximately $238,000. Institutional investors own 83.19% of the company’s stock.

About Northern Trust

Northern Trust Corporation (NASDAQ: NTRS) is a global financial services firm headquartered in Chicago that provides asset servicing, asset management and wealth management solutions to institutions, corporations and high-net-worth individuals. The company’s core businesses include custody and fund administration, investment operations outsourcing, trust and fiduciary services, private banking, and retirement and defined contribution plan services.

Northern Trust’s product and service offerings span custody and fund accounting, portfolio and performance analytics, securities lending, cash management and foreign exchange, as well as discretionary and non-discretionary investment management.