Truist Financial Forecasts Strong Price Appreciation for Northern Trust (NASDAQ:NTRS) Stock

Northern Trust (NASDAQ:NTRS - Free Report) had its target price boosted by Truist Financial from $116.00 to $126.00 in a research note published on Thursday morning,Benzinga reports. They currently have a hold rating on the asset manager's stock.

A number of other research firms also recently issued reports on NTRS. Citigroup cut their target price on shares of Northern Trust from $110.00 to $105.00 and set a "neutral" rating for the company in a research report on Monday, March 24th. Morgan Stanley upped their price target on shares of Northern Trust from $103.00 to $106.00 and gave the stock an "underweight" rating in a research note on Tuesday. Bank of America reduced their price objective on Northern Trust from $123.00 to $121.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. The Goldman Sachs Group upped their target price on Northern Trust from $89.00 to $101.00 and gave the stock a "sell" rating in a research report on Wednesday. Finally, Royal Bank Of Canada set a $123.00 price target on Northern Trust and gave the company an "outperform" rating in a report on Monday. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Northern Trust has an average rating of "Hold" and an average price target of $114.67.

Northern Trust Stock Down 0.3%

Shares of Northern Trust stock traded down $0.36 during midday trading on Thursday, hitting $131.71. The company's stock had a trading volume of 1,442,540 shares, compared to its average volume of 1,431,142. Northern Trust has a 1-year low of $80.81 and a 1-year high of $133.40. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $25.62 billion, a P/E ratio of 12.29, a PEG ratio of 1.99 and a beta of 1.26. The stock has a 50-day simple moving average of $107.63 and a 200-day simple moving average of $104.20.

Northern Trust (NASDAQ:NTRS - Get Free Report) last released its earnings results on Tuesday, April 22nd. The asset manager reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.05. The company had revenue of $1.95 billion for the quarter, compared to analysts' expectations of $1.95 billion. Northern Trust had a return on equity of 13.73% and a net margin of 13.93%. As a group, sell-side analysts expect that Northern Trust will post 8.27 earnings per share for the current year.

Northern Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 6th were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 2.28%. The ex-dividend date of this dividend was Friday, June 6th. Northern Trust's dividend payout ratio is currently 27.99%.

Insiders Place Their Bets

In other news, EVP Clive Bellows sold 3,300 shares of Northern Trust stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $99.95, for a total value of $329,835.00. Following the transaction, the executive vice president directly owned 28,736 shares in the company, valued at approximately $2,872,163.20. The trade was a 10.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Teresa Parker sold 6,467 shares of the business's stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $100.62, for a total value of $650,709.54. Following the transaction, the insider directly owned 79,391 shares of the company's stock, valued at $7,988,322.42. This represents a 7.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,772 shares of company stock worth $981,069 over the last quarter. 0.77% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Colonial Trust Co SC grew its stake in shares of Northern Trust by 6,400.0% in the fourth quarter. Colonial Trust Co SC now owns 260 shares of the asset manager's stock worth $27,000 after acquiring an additional 256 shares during the last quarter. Continuum Advisory LLC boosted its holdings in Northern Trust by 5,340.0% in the 1st quarter. Continuum Advisory LLC now owns 272 shares of the asset manager's stock valued at $27,000 after purchasing an additional 267 shares during the period. Zions Bancorporation National Association UT acquired a new stake in Northern Trust in the 1st quarter worth $29,000. Wayfinding Financial LLC bought a new position in shares of Northern Trust during the 1st quarter worth about $35,000. Finally, Assetmark Inc. raised its position in shares of Northern Trust by 528.3% during the fourth quarter. Assetmark Inc. now owns 377 shares of the asset manager's stock valued at $39,000 after buying an additional 317 shares during the last quarter. 83.19% of the stock is owned by institutional investors.

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.