Barclays Increases Northern Trust (NASDAQ:NTRS) Price Target to $112.00

Northern Trust (NASDAQ:NTRS) had its price objective boosted by Barclays from $105.00 to $112.00 in a research report report published on Wednesday, The Fly reports. Barclays currently has an equal weight rating on the asset manager’s stock.

Other research analysts have also recently issued research reports about the stock. Morgan Stanley raised their price target on shares of Northern Trust from $128.00 to $131.00 and gave the stock an equal weight rating in a research note on Monday, March 8th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Northern Trust from $112.00 to $110.00 and set a buy rating for the company in a research note on Friday, January 22nd. Wells Fargo & Company lifted their target price on shares of Northern Trust from $112.00 to $122.00 and gave the company an overweight rating in a research note on Thursday, April 1st. Piper Sandler lifted their target price on shares of Northern Trust from $100.00 to $115.00 and gave the company an overweight rating in a research note on Monday, January 11th. Finally, Credit Suisse Group boosted their price objective on shares of Northern Trust from $94.00 to $102.00 and gave the stock an underperform rating in a research report on Monday, March 29th. Five analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $101.47.

Shares of NTRS opened at $106.83 on Wednesday. The stock has a market cap of $22.21 billion, a price-to-earnings ratio of 17.72 and a beta of 1.12. The company has a quick ratio of 0.64, a current ratio of 0.64 and a debt-to-equity ratio of 0.48. Northern Trust has a 12 month low of $67.43 and a 12 month high of $107.96. The company has a 50-day moving average price of $101.22 and a two-hundred day moving average price of $92.52.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings results on Wednesday, January 20th. The asset manager reported $1.49 EPS for the quarter, hitting analysts’ consensus estimates of $1.49. The firm had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Northern Trust had a net margin of 20.72% and a return on equity of 13.07%. During the same quarter last year, the company earned $1.80 earnings per share. Equities research analysts expect that Northern Trust will post 5.99 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 1st. Shareholders of record on Friday, March 12th were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date of this dividend was Thursday, March 11th. Northern Trust’s dividend payout ratio is presently 42.23%.

In other news, EVP Robert P. Browne sold 10,000 shares of the business’s stock in a transaction on Friday, March 12th. The shares were sold at an average price of $102.18, for a total value of $1,021,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Steven L. Fradkin sold 8,473 shares of the business’s stock in a transaction on Thursday, January 28th. The shares were sold at an average price of $91.50, for a total transaction of $775,279.50. The disclosure for this sale can be found here. 0.72% of the stock is owned by insiders.

Several hedge funds have recently made changes to their positions in NTRS. Norges Bank acquired a new position in shares of Northern Trust in the 4th quarter valued at $177,600,000. NN Investment Partners Holdings N.V. boosted its stake in Northern Trust by 1,073.2% in the 4th quarter. NN Investment Partners Holdings N.V. now owns 1,975,814 shares of the asset manager’s stock worth $184,029,000 after purchasing an additional 1,807,398 shares during the period. Principal Financial Group Inc. boosted its stake in Northern Trust by 292.8% in the 4th quarter. Principal Financial Group Inc. now owns 1,236,711 shares of the asset manager’s stock worth $115,187,000 after purchasing an additional 921,861 shares during the period. Morgan Stanley boosted its stake in Northern Trust by 39.6% in the 4th quarter. Morgan Stanley now owns 712,977 shares of the asset manager’s stock worth $66,406,000 after purchasing an additional 202,196 shares during the period. Finally, Coho Partners Ltd. boosted its stake in Northern Trust by 247.8% in the 4th quarter. Coho Partners Ltd. now owns 267,810 shares of the asset manager’s stock worth $24,944,000 after purchasing an additional 190,810 shares during the period. 78.82% of the stock is owned by institutional investors.

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, Corporate & Institutional Services (C&IS) and Wealth Management.

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The Fly

Analyst Recommendations for Northern Trust (NASDAQ:NTRS)

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