Northern Trust (NASDAQ:NTRS) had its price target cut by Morgan Stanley from $109.00 to $96.00 in a research note released on Tuesday. They currently have an underweight rating on the asset manager’s stock.

Several other equities research analysts also recently commented on the stock. BidaskClub downgraded shares of Northern Trust from a hold rating to a sell rating in a report on Wednesday, October 17th. Buckingham Research dropped their price objective on shares of Northern Trust from $119.00 to $114.00 and set a neutral rating on the stock in a report on Thursday, October 18th. Raymond James dropped their price objective on shares of Northern Trust from $122.00 to $115.00 and set a strong-buy rating on the stock in a report on Thursday, October 18th. Sandler O’Neill raised shares of Northern Trust from a hold rating to a buy rating and set a $114.00 price objective on the stock in a report on Thursday, October 18th. Finally, UBS Group upped their price target on Northern Trust from $124.00 to $125.00 and gave the company a buy rating in a research report on Monday, October 8th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of Hold and an average target price of $114.05.

Shares of NASDAQ:NTRS traded up $0.63 during midday trading on Tuesday, reaching $85.52. The company had a trading volume of 58,158 shares, compared to its average volume of 1,515,700. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.65 and a current ratio of 0.65. The company has a market capitalization of $18.84 billion, a P/E ratio of 17.74, a price-to-earnings-growth ratio of 1.07 and a beta of 1.08. Northern Trust has a 52-week low of $75.96 and a 52-week high of $115.61.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings results on Wednesday, October 17th. The asset manager reported $1.58 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.61 by ($0.03). The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Northern Trust had a return on equity of 15.75% and a net margin of 23.28%. Northern Trust’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period last year, the firm posted $1.20 earnings per share. As a group, research analysts predict that Northern Trust will post 6.55 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 1st. Investors of record on Friday, December 14th were given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 2.57%. The ex-dividend date of this dividend was Thursday, December 13th. Northern Trust’s dividend payout ratio (DPR) is 45.55%.

A number of hedge funds and other institutional investors have recently modified their holdings of NTRS. State of Alaska Department of Revenue increased its holdings in shares of Northern Trust by 0.7% during the fourth quarter. State of Alaska Department of Revenue now owns 30,681 shares of the asset manager’s stock valued at $2,563,000 after acquiring an additional 222 shares in the last quarter. Cerebellum GP LLC bought a new position in shares of Northern Trust during the fourth quarter valued at $261,000. Trust Department MB Financial Bank N A increased its holdings in shares of Northern Trust by 20.9% during the fourth quarter. Trust Department MB Financial Bank N A now owns 1,417 shares of the asset manager’s stock valued at $118,000 after acquiring an additional 245 shares in the last quarter. North Star Investment Management Corp. increased its holdings in shares of Northern Trust by 9.3% during the fourth quarter. North Star Investment Management Corp. now owns 20,524 shares of the asset manager’s stock valued at $1,716,000 after acquiring an additional 1,750 shares in the last quarter. Finally, Chesley Taft & Associates LLC increased its holdings in shares of Northern Trust by 1.7% during the fourth quarter. Chesley Taft & Associates LLC now owns 86,269 shares of the asset manager’s stock valued at $7,211,000 after acquiring an additional 1,423 shares in the last quarter. Institutional investors and hedge funds own 79.11% of the company’s stock.

About Northern Trust

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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