Wells Fargo & Company Has Lowered Expectations for Northern Trust (NASDAQ:NTRS) Stock Price

Northern Trust (NASDAQ:NTRS) had its price objective cut by Wells Fargo & Company from $119.00 to $118.00 in a report issued on Friday,Benzinga reports. They currently have an equal weight rating on the asset manager’s stock.

A number of other research analysts also recently weighed in on the stock. The Goldman Sachs Group raised their price target on shares of Northern Trust from $92.00 to $102.00 and gave the company a “sell” rating in a report on Friday, January 24th. Keefe, Bruyette & Woods raised their target price on Northern Trust from $113.00 to $122.00 and gave the company a “market perform” rating in a report on Friday, January 24th. UBS Group upped their price target on Northern Trust from $110.00 to $114.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Barclays raised their price objective on Northern Trust from $115.00 to $118.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Finally, Truist Financial upped their target price on Northern Trust from $110.00 to $116.00 and gave the stock a “hold” rating in a research report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $113.46.

Northern Trust Price Performance

NTRS opened at $97.15 on Friday. The company has a current ratio of 0.68, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. Northern Trust has a 1 year low of $79.32 and a 1 year high of $114.67. The stock has a fifty day moving average price of $107.04 and a 200 day moving average price of $102.99. The stock has a market cap of $19.01 billion, a price-to-earnings ratio of 9.93, a PEG ratio of 1.72 and a beta of 1.07.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings results on Thursday, January 23rd. The asset manager reported $2.26 EPS for the quarter, beating the consensus estimate of $1.96 by $0.30. Northern Trust had a return on equity of 13.74% and a net margin of 12.77%. Analysts forecast that Northern Trust will post 8.27 EPS for the current fiscal year.

Northern Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a $0.75 dividend. The ex-dividend date is Friday, March 14th. This represents a $3.00 annualized dividend and a dividend yield of 3.09%. Northern Trust’s dividend payout ratio is 30.67%.

Insider Buying and Selling

In related news, EVP Thomas A. South sold 3,804 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $113.00, for a total value of $429,852.00. Following the completion of the sale, the executive vice president now owns 81,794 shares in the company, valued at approximately $9,242,722. This trade represents a 4.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jane Karpinski sold 2,262 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $111.33, for a total value of $251,828.46. Following the transaction, the executive vice president now owns 17,236 shares in the company, valued at $1,918,883.88. This represents a 11.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,335 shares of company stock valued at $3,970,211. 0.77% of the stock is owned by company insiders.

Institutional Trading of Northern Trust

A number of hedge funds have recently modified their holdings of the company. Y.D. More Investments Ltd raised its stake in shares of Northern Trust by 118.4% in the fourth quarter. Y.D. More Investments Ltd now owns 249 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 135 shares in the last quarter. Colonial Trust Co SC raised its stake in shares of Northern Trust by 6,400.0% in the 4th quarter. Colonial Trust Co SC now owns 260 shares of the asset manager’s stock valued at $27,000 after buying an additional 256 shares in the last quarter. Assetmark Inc. lifted its holdings in shares of Northern Trust by 528.3% during the 4th quarter. Assetmark Inc. now owns 377 shares of the asset manager’s stock worth $39,000 after acquiring an additional 317 shares during the period. Brooklyn Investment Group boosted its position in shares of Northern Trust by 51.2% during the 4th quarter. Brooklyn Investment Group now owns 378 shares of the asset manager’s stock valued at $39,000 after acquiring an additional 128 shares in the last quarter. Finally, True Wealth Design LLC boosted its position in shares of Northern Trust by 84.0% during the 4th quarter. True Wealth Design LLC now owns 425 shares of the asset manager’s stock valued at $44,000 after acquiring an additional 194 shares in the last quarter. Institutional investors 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.