JPMorgan Chase & Co. Cuts Northern Trust (NASDAQ:NTRS) Price Target to $185.00

Northern Trust (NASDAQ:NTRS) had its price objective decreased by JPMorgan Chase & Co. from $185.50 to $185.00 in a report published on Friday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the asset manager’s stock.

NTRS has been the topic of a number of other research reports. Evercore set a $183.00 price objective on shares of Northern Trust in a research note on Thursday. Keefe, Bruyette & Woods boosted their target price on shares of Northern Trust from $157.00 to $175.00 and gave the company an “underperform” rating in a research report on Thursday, July 9th. Zacks Research lowered shares of Northern Trust from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 25th. Bank of America increased their price target on Northern Trust from $190.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. Finally, Morgan Stanley lifted their price objective on Northern Trust from $170.00 to $173.00 and gave the company an “underweight” rating in a research note on Thursday, July 23rd. Four research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $180.93.

Northern Trust Stock Performance

NASDAQ NTRS opened at $171.40 on Friday. The company has a fifty day simple moving average of $182.52 and a two-hundred day simple moving average of $171.00. The stock has a market cap of $31.36 billion, a P/E ratio of 14.71, a P/E/G ratio of 0.96 and a beta of 1.24. Northern Trust has a 12-month low of $121.12 and a 12-month high of $195.78. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.43.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings results on Wednesday, July 22nd. The asset manager reported $4.23 earnings per share for the quarter, beating the consensus estimate of $2.71 by $1.52. Northern Trust had a return on equity of 16.91% and a net margin of 14.76%.The business had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.69 billion. During the same quarter in the previous year, the business earned $2.13 EPS. The company’s quarterly revenue was up 35.1% compared to the same quarter last year. On average, analysts forecast that Northern Trust will post 11.61 earnings per share for the current year.

Northern Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Friday, September 4th were paid a $0.88 dividend. The ex-dividend date was Friday, September 4th. This represents a $3.52 annualized dividend and a dividend yield of 2.1%. This is an increase from Northern Trust’s previous quarterly dividend of $0.80. Northern Trust’s dividend payout ratio (DPR) is presently 30.21%.

Insider Buying and Selling at Northern Trust

In other Northern Trust news, EVP Thomas South sold 1,800 shares of the company’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $184.90, for a total value of $332,820.00. Following the completion of the transaction, the executive vice president owned 92,917 shares in the company, valued at approximately $17,180,353.30. This represents a 1.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robert Moritz, Jr. bought 255 shares of the stock in a transaction dated Wednesday, July 29th. The shares were purchased at an average cost of $179.57 per share, for a total transaction of $45,790.35. Following the completion of the purchase, the director owned 8,400 shares in the company, valued at approximately $1,508,388. This represents a 3.13% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.66% of the company’s stock.

Hedge Funds Weigh In On Northern Trust

Several institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. purchased a new stake in shares of Northern Trust in the second quarter valued at approximately $2,523,781,000. Primecap Management Co. CA acquired a new stake in Northern Trust in the 2nd quarter valued at $1,060,553,000. Bank of New York Mellon Corp purchased a new stake in Northern Trust in the 2nd quarter worth $361,079,000. Legal & General Group Plc purchased a new stake in Northern Trust in the 2nd quarter worth $207,054,000. Finally, Man Group plc acquired a new position in Northern Trust during the second quarter worth $147,718,000. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Northern Trust Company Profile

Northern Trust Corporation is a financial services company headquartered in Chicago, Illinois. Founded in 1889, the company provides wealth management, asset servicing, asset management and banking services to corporations, institutions, affluent individuals and families, and financial professionals.

Through its wealth management business, Northern Trust offers investment management, financial planning, trust and estate services, private banking, and family office solutions. Its asset servicing and banking operations support institutional investors and businesses with custody, fund administration, securities lending, foreign exchange, treasury services, capital markets, and related banking solutions.

Northern Trust serves clients through operations in the United States and international markets, including Canada, Europe, the Middle East and the Asia-Pacific region.