Truist Financial Cuts Northern Trust (NASDAQ:NTRS) Price Target to $155.00

Northern Trust (NASDAQ:NTRS) had its price objective trimmed by Truist Financial from $160.00 to $155.00 in a report released on Wednesday morning,Benzinga reports. The brokerage currently has a hold rating on the asset manager’s stock.

Several other research analysts have also recently issued reports on the stock. Wells Fargo & Company upped their target price on shares of Northern Trust from $145.00 to $150.00 and gave the company an “equal weight” rating in a report on Friday, January 23rd. TD Cowen boosted their price target on shares of Northern Trust from $165.00 to $175.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Barclays lifted their price target on Northern Trust from $136.00 to $160.00 and gave the stock an “equal weight” rating in a research report on Monday, January 5th. The Goldman Sachs Group boosted their price objective on Northern Trust from $130.00 to $148.00 and gave the company a “sell” rating in a research note on Wednesday, January 28th. Finally, Morgan Stanley increased their price objective on Northern Trust from $131.00 to $140.00 and gave the company an “underweight” rating in a report on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $151.91.

Northern Trust Price Performance

NTRS stock opened at $142.25 on Wednesday. The company’s 50 day moving average price is $143.39 and its 200 day moving average price is $137.18. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.69 and a current ratio of 0.69. Northern Trust has a fifty-two week low of $81.62 and a fifty-two week high of $157.60. The firm has a market capitalization of $26.36 billion, a price-to-earnings ratio of 16.28, a PEG ratio of 1.12 and a beta of 1.23.

Northern Trust (NASDAQ:NTRS) last posted its earnings results on Friday, January 30th. The asset manager reported $2.42 EPS for the quarter, beating the consensus estimate of $2.37 by $0.05. Northern Trust had a return on equity of 14.87% and a net margin of 12.15%.The firm had revenue of $3.15 billion for the quarter. During the same period last year, the company earned $2.26 EPS. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. On average, equities research analysts anticipate that Northern Trust will post 8.27 EPS for the current fiscal year.

Northern Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Friday, March 6th were given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Friday, March 6th. Northern Trust’s payout ratio is presently 36.61%.

Insider Buying and Selling at Northern Trust

In other news, insider Clive Bellows sold 1,148 shares of the stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $145.26, for a total value of $166,758.48. Following the completion of the transaction, the insider owned 34,133 shares in the company, valued at $4,958,159.58. This trade represents a 3.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO David W. Fox, Jr. sold 3,255 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $143.89, for a total transaction of $468,361.95. Following the completion of the sale, the chief financial officer owned 14,552 shares of the company’s stock, valued at $2,093,887.28. This trade represents a 18.28% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 34,905 shares of company stock worth $5,166,714. Company insiders own 0.66% of the company’s stock.

Institutional Investors Weigh In On Northern Trust

Several institutional investors have recently modified their holdings of the company. Triumph Capital Management purchased a new position in Northern Trust in the 3rd quarter valued at approximately $25,000. Reflection Asset Management acquired a new stake in Northern Trust in the fourth quarter valued at $25,000. Board of the Pension Protection Fund acquired a new stake in Northern Trust in the fourth quarter valued at $27,000. Elyxium Wealth LLC purchased a new position in shares of Northern Trust in the fourth quarter valued at $34,000. Finally, International Assets Investment Management LLC purchased a new position in shares of Northern Trust in the fourth quarter valued at $35,000. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Northern Trust Company Profile

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.