Wells Fargo & Company Cuts Northern Trust (NASDAQ:NTRS) Price Target to $111.00

Northern Trust (NASDAQ:NTRS) had its target price reduced by Wells Fargo & Company from $118.00 to $111.00 in a research note issued to investors on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the asset manager’s stock.

Other research analysts also recently issued reports about the stock. Truist Financial cut their price target on shares of Northern Trust from $116.00 to $98.00 and set a “hold” rating for the company in a report on Friday, April 4th. Keefe, Bruyette & Woods boosted their target price on Northern Trust from $113.00 to $122.00 and gave the stock a “market perform” rating in a research report on Friday, January 24th. StockNews.com downgraded Northern Trust from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Royal Bank of Canada boosted their price objective on Northern Trust from $107.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, January 24th. Finally, Bank of America lowered their target price on shares of Northern Trust from $123.00 to $121.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. One analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Northern Trust presently has a consensus rating of “Hold” and a consensus target price of $110.83.

Northern Trust Trading Down 0.9 %

NASDAQ:NTRS opened at $91.59 on Wednesday. The company has a market cap of $17.92 billion, a P/E ratio of 9.37, a P/E/G ratio of 1.72 and a beta of 1.10. Northern Trust has a 1 year low of $79.68 and a 1 year high of $114.67. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.68 and a quick ratio of 0.71. The stock’s fifty day moving average price is $97.80 and its two-hundred day moving average price is $102.73.

Northern Trust (NASDAQ:NTRS) last posted its earnings results on Tuesday, April 22nd. The asset manager reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.05. Northern Trust had a return on equity of 13.74% and a net margin of 12.77%. The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.95 billion. As a group, analysts expect that Northern Trust will post 8.27 EPS for the current year.

Northern Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 6th will be issued a $0.75 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $3.00 annualized dividend and a yield of 3.28%. Northern Trust’s dividend payout ratio (DPR) is presently 27.99%.

Insider Transactions at Northern Trust

In other news, insider Jason J. Tyler sold 2,237 shares of the stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $112.67, for a total value of $252,042.79. Following the completion of the transaction, the insider now owns 58,449 shares of the company’s stock, valued at approximately $6,585,448.83. This represents a 3.69 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Thomas A. South sold 3,804 shares of Northern Trust stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $113.00, for a total value of $429,852.00. Following the sale, the executive vice president now owns 81,794 shares in the company, valued at $9,242,722. This represents a 4.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,335 shares of company stock valued at $3,970,211. Company insiders own 0.77% of the company’s stock.

Hedge Funds Weigh In On Northern Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in NTRS. Mather Group LLC. grew its position in shares of Northern Trust by 20.9% in the 1st quarter. Mather Group LLC. now owns 3,426 shares of the asset manager’s stock worth $338,000 after buying an additional 592 shares during the period. Amalgamated Bank grew its holdings in Northern Trust by 0.5% in the first quarter. Amalgamated Bank now owns 38,065 shares of the asset manager’s stock worth $3,755,000 after purchasing an additional 172 shares during the period. Sunbelt Securities Inc. increased its stake in shares of Northern Trust by 30.5% during the first quarter. Sunbelt Securities Inc. now owns 942 shares of the asset manager’s stock valued at $93,000 after purchasing an additional 220 shares in the last quarter. U S Global Investors Inc. lifted its holdings in shares of Northern Trust by 68.3% during the first quarter. U S Global Investors Inc. now owns 11,950 shares of the asset manager’s stock valued at $1,179,000 after purchasing an additional 4,850 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Northern Trust by 23.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,305 shares of the asset manager’s stock worth $2,653,000 after purchasing an additional 5,244 shares in the last quarter. Hedge funds and other institutional investors 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.