Deutsche Bank Aktiengesellschaft Raises Northern Trust (NASDAQ:NTRS) Price Target to $94.00

Northern Trust (NASDAQ:NTRS) had its price objective hoisted by Deutsche Bank Aktiengesellschaft from $84.00 to $94.00 in a research report released on Monday morning, Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a hold rating on the asset manager’s stock.

A number of other brokerages have also recently weighed in on NTRS. Royal Bank of Canada lifted their target price on Northern Trust from $86.00 to $90.00 and gave the company an outperform rating in a report on Thursday, July 18th. Keefe, Bruyette & Woods decreased their target price on Northern Trust from $92.00 to $85.00 and set a market perform rating for the company in a report on Thursday, June 27th. Morgan Stanley dropped their target price on shares of Northern Trust from $97.00 to $93.00 and set an underweight rating for the company in a research report on Tuesday, July 30th. Finally, The Goldman Sachs Group reduced their price target on shares of Northern Trust from $94.00 to $84.00 and set a neutral rating on the stock in a research report on Tuesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Northern Trust currently has a consensus rating of Hold and an average target price of $89.58.

Northern Trust Stock Down 0.7 %

Shares of NASDAQ:NTRS opened at $90.79 on Monday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The firm has a market cap of $18.31 billion, a price-to-earnings ratio of 20.04, a PEG ratio of 1.53 and a beta of 1.08. The stock’s 50-day moving average price is $87.62 and its two-hundred day moving average price is $85.43. Northern Trust has a 12-month low of $62.44 and a 12-month high of $92.82.

Northern Trust (NASDAQ:NTRS) last released its earnings results on Wednesday, July 17th. The asset manager reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.03. The business had revenue of $2.72 billion for the quarter, compared to analysts’ expectations of $1.84 billion. Northern Trust had a net margin of 10.53% and a return on equity of 12.24%. The company’s quarterly revenue was up 53.8% on a year-over-year basis. During the same period last year, the company earned $1.79 earnings per share. On average, research analysts forecast that Northern Trust will post 7.01 EPS for the current year.

Northern Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th will be paid a dividend of $0.75 per share. The ex-dividend date is Friday, September 6th. This represents a $3.00 dividend on an annualized basis and a yield of 3.30%. Northern Trust’s dividend payout ratio (DPR) is presently 66.23%.

Insiders Place Their Bets

In other news, EVP Mark C. Gossett sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $88.90, for a total transaction of $533,400.00. Following the completion of the sale, the executive vice president now owns 28,707 shares of the company’s stock, valued at $2,552,052.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Mark C. Gossett sold 6,000 shares of Northern Trust stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $88.90, for a total value of $533,400.00. Following the completion of the transaction, the executive vice president now directly owns 28,707 shares in the company, valued at $2,552,052.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Teresa Parker sold 5,883 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $84.06, for a total value of $494,524.98. Following the completion of the sale, the executive vice president now directly owns 83,765 shares of the company’s stock, valued at $7,041,285.90. The disclosure for this sale can be found here. Insiders have sold 13,738 shares of company stock worth $1,191,388 in the last three months. 0.64% of the stock is owned by insiders.

Hedge Funds Weigh In On Northern Trust

A number of hedge funds have recently added to or reduced their stakes in the business. DekaBank Deutsche Girozentrale raised its holdings in shares of Northern Trust by 0.3% during the second quarter. DekaBank Deutsche Girozentrale now owns 43,713 shares of the asset manager’s stock worth $3,608,000 after purchasing an additional 120 shares during the period. Allspring Global Investments Holdings LLC raised its stake in Northern Trust by 1.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 10,584 shares of the asset manager’s stock worth $889,000 after acquiring an additional 131 shares during the period. Massmutual Trust Co. FSB ADV lifted its holdings in Northern Trust by 23.1% in the second quarter. Massmutual Trust Co. FSB ADV now owns 805 shares of the asset manager’s stock worth $68,000 after acquiring an additional 151 shares during the last quarter. Harvest Investment Advisors LLC boosted its stake in Northern Trust by 1.0% in the fourth quarter. Harvest Investment Advisors LLC now owns 16,291 shares of the asset manager’s stock valued at $1,375,000 after acquiring an additional 160 shares during the period. Finally, First Trust Direct Indexing L.P. grew its holdings in shares of Northern Trust by 4.5% during the first quarter. First Trust Direct Indexing L.P. now owns 4,257 shares of the asset manager’s stock valued at $379,000 after purchasing an additional 182 shares during the last quarter. Institutional investors and hedge funds own 83.19% of the company’s stock.

Northern Trust Company Profile

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.