Morgan Stanley Raises Northern Trust (NASDAQ:NTRS) Price Target to $93.00

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Northern Trust (NASDAQ:NTRS) had its target price upped by Morgan Stanley from $89.00 to $93.00 in a report published on Tuesday morning, BenzingaRatingsTable reports. They currently have an underweight rating on the asset manager’s stock.

Other analysts have also issued research reports about the company. Bank of America reaffirmed a neutral rating and issued a $97.00 price objective (down previously from $107.00) on shares of Northern Trust in a report on Thursday, June 6th. Deutsche Bank cut their price objective on Northern Trust from $91.00 to $87.00 and set a hold rating for the company in a report on Wednesday, August 21st. Wells Fargo & Co set a $110.00 price objective on Northern Trust and gave the stock a buy rating in a report on Friday, August 16th. BidaskClub raised Northern Trust from a sell rating to a hold rating in a report on Thursday, September 12th. Finally, Citigroup lowered Northern Trust from a neutral rating to a sell rating and cut their price objective for the stock from $94.00 to $85.00 in a report on Friday, July 12th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $104.28.

NTRS stock opened at $95.78 on Tuesday. Northern Trust has a 1-year low of $75.96 and a 1-year high of $107.45. The business has a fifty day moving average price of $90.20 and a 200-day moving average price of $91.76. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.64 and a quick ratio of 0.64. The stock has a market capitalization of $20.67 billion, a P/E ratio of 14.23, a P/E/G ratio of 1.71 and a beta of 1.19.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings results on Wednesday, July 24th. The asset manager reported $1.75 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.68 by $0.07. Northern Trust had a return on equity of 15.74% and a net margin of 22.20%. The firm had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.51 billion. During the same quarter in the previous year, the business earned $1.68 earnings per share. The company’s revenue was down .1% on a year-over-year basis. As a group, analysts anticipate that Northern Trust will post 6.6 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 2.92%. The ex-dividend date is Thursday, September 12th. This is a positive change from Northern Trust’s previous quarterly dividend of $0.60. Northern Trust’s payout ratio is currently 41.60%.

In other Northern Trust news, EVP Thomas A. South sold 1,000 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $98.54, for a total transaction of $98,540.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Robert P. Browne sold 21,612 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $99.61, for a total value of $2,152,771.32. The disclosure for this sale can be found here. Insiders have sold 100,411 shares of company stock valued at $9,682,259 in the last three months. 1.15% of the stock is currently owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the business. Strs Ohio boosted its stake in shares of Northern Trust by 2.1% in the second quarter. Strs Ohio now owns 6,242 shares of the asset manager’s stock worth $561,000 after acquiring an additional 126 shares during the period. Oregon Public Employees Retirement Fund boosted its stake in shares of Northern Trust by 0.6% in the second quarter. Oregon Public Employees Retirement Fund now owns 23,331 shares of the asset manager’s stock worth $2,100,000 after acquiring an additional 136 shares during the period. Boston Family Office LLC boosted its stake in shares of Northern Trust by 0.8% in the first quarter. Boston Family Office LLC now owns 17,851 shares of the asset manager’s stock worth $1,614,000 after acquiring an additional 150 shares during the period. CIBC Private Wealth Group LLC boosted its stake in shares of Northern Trust by 2.1% in the second quarter. CIBC Private Wealth Group LLC now owns 7,429 shares of the asset manager’s stock worth $669,000 after acquiring an additional 152 shares during the period. Finally, Commonwealth Bank of Australia boosted its stake in shares of Northern Trust by 0.7% in the first quarter. Commonwealth Bank of Australia now owns 21,723 shares of the asset manager’s stock worth $1,959,000 after acquiring an additional 161 shares during the period. 80.33% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Northern Trust (NASDAQ:NTRS)

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