Northern Trust (NASDAQ:NTRS) had its price objective reduced by Deutsche Bank from $119.00 to $118.00 in a research note released on Thursday. Deutsche Bank currently has a hold rating on the asset manager’s stock.

NTRS has been the subject of several other reports. Zacks Investment Research raised Northern Trust from a hold rating to a strong-buy rating and set a $122.00 price target for the company in a report on Friday, April 20th. Credit Suisse Group lifted their price target on Northern Trust from $112.00 to $114.00 and gave the stock a neutral rating in a report on Friday, August 10th. Royal Bank of Canada reissued a buy rating on shares of Northern Trust in a report on Wednesday, April 18th. Vining Sparks reissued a buy rating and set a $130.00 price target on shares of Northern Trust in a report on Monday, July 23rd. Finally, Keefe, Bruyette & Woods set a $118.00 price target on Northern Trust and gave the stock a hold rating in a report on Wednesday, July 18th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $115.06.

NASDAQ:NTRS traded up $0.04 during mid-day trading on Thursday, hitting $107.70. 45,407 shares of the stock were exchanged, compared to its average volume of 1,110,019. The stock has a market cap of $24.20 billion, a P/E ratio of 22.35, a PEG ratio of 1.26 and a beta of 0.97. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.34. Northern Trust has a fifty-two week low of $85.69 and a fifty-two week high of $115.61.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings results on Wednesday, July 18th. The asset manager reported $1.68 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.63 by $0.05. The business had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Northern Trust had a return on equity of 15.02% and a net margin of 22.88%. The firm’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same period last year, the firm posted $1.12 EPS. sell-side analysts forecast that Northern Trust will post 6.7 EPS for the current year.

Northern Trust declared that its board has approved a share buyback program on Tuesday, July 17th that authorizes the company to buyback 25,000,000 outstanding shares. This buyback authorization authorizes the asset manager to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 1st. Shareholders of record on Friday, September 14th will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date is Thursday, September 13th. This is a positive change from Northern Trust’s previous quarterly dividend of $0.42. Northern Trust’s dividend payout ratio (DPR) is 34.78%.

In other Northern Trust news, Vice Chairman William L. Morrison sold 13,886 shares of the firm’s stock in a transaction on Monday, July 23rd. The stock was sold at an average price of $110.87, for a total transaction of $1,539,540.82. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Clair Joyce St sold 3,166 shares of the firm’s stock in a transaction on Tuesday, July 24th. The stock was sold at an average price of $112.00, for a total value of $354,592.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 76,636 shares of company stock worth $8,488,828. Corporate insiders own 1.04% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Signaturefd LLC bought a new position in shares of Northern Trust in the 1st quarter valued at $102,000. Whittier Trust Co. of Nevada Inc. bought a new position in shares of Northern Trust in the 1st quarter valued at $103,000. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of Northern Trust by 8,671.4% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,228 shares of the asset manager’s stock valued at $126,000 after purchasing an additional 1,214 shares during the last quarter. Delta Asset Management LLC TN bought a new position in shares of Northern Trust in the 2nd quarter valued at $145,000. Finally, Quantbot Technologies LP bought a new position in shares of Northern Trust in the 1st quarter valued at $167,000. Institutional investors own 78.75% of the company’s stock.

Northern Trust Company Profile

Northern Trust Corporation, a financial holding company, provides asset servicing, fund administration, asset management, fiduciary, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates through Corporate & Institutional Services (C&IS) and Wealth Management segments.

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Analyst Recommendations for Northern Trust (NASDAQ:NTRS)

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