Citigroup Inc. restated their neutral rating on shares of Northern Trust Corporation (NASDAQ:NTRS) in a research report sent to investors on Monday. Citigroup Inc. currently has a $92.00 price objective on the asset manager’s stock, up from their previous price objective of $90.00.

Several other brokerages have also recently weighed in on NTRS. Buckingham Research reissued a neutral rating and set a $103.00 price target (up previously from $93.00) on shares of Northern Trust Corporation in a research report on Monday, July 10th. BidaskClub upgraded shares of Northern Trust Corporation from a buy rating to a strong-buy rating in a report on Wednesday, July 5th. Zacks Investment Research upgraded shares of Northern Trust Corporation from a hold rating to a buy rating and set a $110.00 price objective for the company in a report on Wednesday, July 12th. Morgan Stanley restated an underweight rating and issued a $86.00 price objective (up from $80.00) on shares of Northern Trust Corporation in a report on Friday, July 7th. Finally, Royal Bank Of Canada restated a buy rating and issued a $97.00 price objective on shares of Northern Trust Corporation in a report on Thursday, June 29th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $95.93.

Northern Trust Corporation (NASDAQ:NTRS) last announced its quarterly earnings results on Wednesday, July 19th. The asset manager reported $1.18 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.23 by ($0.05). The firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Northern Trust Corporation had a net margin of 20.21% and a return on equity of 12.08%. The company’s quarterly revenue was up .5% on a year-over-year basis. During the same period in the previous year, the company earned $1.09 EPS.

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The company also recently disclosed a quarterly dividend, which was paid on Sunday, October 1st. Shareholders of record on Friday, September 1st were paid a dividend of $0.42 per share. This is a positive change from Northern Trust Corporation’s previous quarterly dividend of $0.38. This represents a $1.68 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend was Wednesday, August 30th. Northern Trust Corporation’s dividend payout ratio (DPR) is currently 38.18%.

Northern Trust Corporation announced that its board has authorized a share repurchase plan on Wednesday, June 28th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the asset manager to purchase up to 3.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

In other news, insider Teresa Parker sold 11,399 shares of the firm’s stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $87.65, for a total transaction of $999,122.35. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Frederick H. Waddell sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $92.00, for a total transaction of $9,200,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 166,094 shares of company stock valued at $15,115,309. 1.27% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in NTRS. Salem Investment Counselors Inc. boosted its holdings in shares of Northern Trust Corporation by 8.3% during the 2nd quarter. Salem Investment Counselors Inc. now owns 1,083 shares of the asset manager’s stock valued at $105,000 after acquiring an additional 83 shares during the last quarter. Huntington National Bank boosted its holdings in shares of Northern Trust Corporation by 54.0% in the second quarter. Huntington National Bank now owns 1,089 shares of the asset manager’s stock worth $106,000 after buying an additional 382 shares during the last quarter. Dupont Capital Management Corp purchased a new position in shares of Northern Trust Corporation in the second quarter worth approximately $107,000. MPS Loria Financial Planners LLC purchased a new position in shares of Northern Trust Corporation in the second quarter worth approximately $134,000. Finally, Bessemer Group Inc. boosted its holdings in shares of Northern Trust Corporation by 16.9% in the second quarter. Bessemer Group Inc. now owns 1,461 shares of the asset manager’s stock worth $143,000 after buying an additional 211 shares during the last quarter. 81.90% of the stock is currently owned by hedge funds and other institutional investors.

Northern Trust Corporation Company Profile

Northern Trust Corporation is a financial holding company. The Company provides asset servicing, fund administration, asset management, fiduciary and banking solutions for corporations, institutions, families and individuals across the world. Its segments include Corporate & Institutional Services (C&IS), Wealth Management, and Treasury and Other.

Analyst Recommendations for Northern Trust Corporation (NASDAQ:NTRS)

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