Northern Trust (NASDAQ:NTRS) Price Target Lowered to $112.00 at Buckingham Research

Northern Trust (NASDAQ:NTRS) had its price objective lowered by Buckingham Research from $115.00 to $112.00 in a research note released on Thursday morning, The Fly reports. The brokerage currently has a neutral rating on the asset manager’s stock.

A number of other equities analysts have also recently weighed in on the stock. Citigroup raised shares of Northern Trust from a sell rating to a neutral rating and increased their price objective for the stock from $92.00 to $110.00 in a research report on Monday, December 16th. Morgan Stanley increased their price objective on shares of Northern Trust from $105.00 to $108.00 and gave the stock an underweight rating in a research report on Monday, December 23rd. Bank of America increased their price objective on shares of Northern Trust from $95.00 to $105.00 and gave the stock a neutral rating in a research report on Thursday, October 24th. UBS Group increased their price objective on shares of Northern Trust from $103.00 to $110.00 and gave the stock a neutral rating in a research report on Tuesday, December 17th. Finally, BidaskClub cut shares of Northern Trust from a buy rating to a hold rating in a research report on Saturday, December 21st. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $105.61.

Shares of Northern Trust stock traded down $2.45 during mid-day trading on Thursday, hitting $101.62. The stock had a trading volume of 1,303,426 shares, compared to its average volume of 1,292,026. The firm has a 50-day moving average of $107.41 and a two-hundred day moving average of $98.44. Northern Trust has a 12-month low of $83.95 and a 12-month high of $110.48. The company has a quick ratio of 0.61, a current ratio of 0.65 and a debt-to-equity ratio of 0.41. The firm has a market cap of $22.25 billion, a P/E ratio of 15.35, a price-to-earnings-growth ratio of 1.55 and a beta of 1.22.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings results on Wednesday, January 22nd. The asset manager reported $1.70 earnings per share for the quarter, missing the consensus estimate of $1.77 by ($0.07). Northern Trust had a net margin of 21.64% and a return on equity of 15.15%. The firm had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.55 billion. During the same period last year, the company earned $1.80 EPS. The business’s quarterly revenue was up 2.7% on a year-over-year basis. Sell-side analysts expect that Northern Trust will post 7.29 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be given a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, March 12th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.76%. Northern Trust’s payout ratio is currently 42.23%.

In other Northern Trust news, EVP Robert P. Browne sold 11,534 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $107.85, for a total transaction of $1,243,941.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Biff Bowman sold 13,208 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $106.53, for a total transaction of $1,407,048.24. The disclosure for this sale can be found here. Insiders have sold a total of 57,600 shares of company stock valued at $6,122,821 in the last ninety days. 1.15% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Strs Ohio lifted its holdings in Northern Trust by 76.4% during the 4th quarter. Strs Ohio now owns 10,442 shares of the asset manager’s stock worth $1,109,000 after buying an additional 4,521 shares in the last quarter. Advisor Partners LLC lifted its holdings in Northern Trust by 15.3% during the 4th quarter. Advisor Partners LLC now owns 7,253 shares of the asset manager’s stock worth $776,000 after buying an additional 964 shares in the last quarter. Country Club Trust Company n.a. acquired a new stake in Northern Trust during the 4th quarter worth approximately $402,000. Campbell & CO Investment Adviser LLC acquired a new stake in Northern Trust during the 4th quarter worth approximately $557,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its holdings in Northern Trust by 8.0% during the 4th quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 9,417 shares of the asset manager’s stock worth $1,000,000 after buying an additional 700 shares in the last quarter. Institutional investors own 81.88% 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, Corporate & Institutional Services (C&IS) and Wealth Management.

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