Northern Trust (NASDAQ:NTRS) Price Target Raised to $101.00

Northern Trust (NASDAQ:NTRS) had its price target lifted by Bank of America from $93.00 to $101.00 in a report issued on Wednesday, Benzinga reports. They currently have a buy rating on the asset manager’s stock.

NTRS has been the topic of several other research reports. Barclays boosted their price objective on shares of Northern Trust from $90.00 to $98.00 and gave the stock an equal weight rating in a research note on Tuesday, January 2nd. Evercore ISI boosted their price objective on shares of Northern Trust from $86.00 to $87.00 and gave the stock an in-line rating in a research note on Thursday, April 4th. UBS Group boosted their price objective on shares of Northern Trust from $72.00 to $84.00 and gave the stock a neutral rating in a research note on Tuesday, January 9th. Wolfe Research downgraded shares of Northern Trust from a peer perform rating to an underperform rating and set a $85.00 target price on the stock. in a research note on Wednesday, January 3rd. Finally, Royal Bank of Canada upped their target price on shares of Northern Trust from $82.00 to $86.00 and gave the stock an outperform rating in a research note on Friday, January 19th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Northern Trust has a consensus rating of Hold and a consensus price target of $84.58.

Northern Trust Price Performance

Shares of NASDAQ NTRS opened at $81.23 on Wednesday. Northern Trust has a 1 year low of $62.44 and a 1 year high of $89.25. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.71. The company’s 50-day moving average is $83.17 and its 200 day moving average is $78.82. The stock has a market capitalization of $16.57 billion, a P/E ratio of 17.93, a P/E/G ratio of 1.64 and a beta of 1.13.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings data on Thursday, January 18th. The asset manager reported $0.52 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.81). Northern Trust had a return on equity of 12.57% and a net margin of 7.59%. The business had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the previous year, the firm earned $1.65 EPS. The company’s revenue was up 1.9% on a year-over-year basis. On average, sell-side analysts expect that Northern Trust will post 6.57 earnings per share for the current year.

Insider Activity at Northern Trust

In related news, insider Steven L. Fradkin sold 30,392 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $80.11, for a total transaction of $2,434,703.12. Following the transaction, the insider now owns 55,707 shares in the company, valued at $4,462,687.77. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.64% of the stock is owned by insiders.

Institutional Trading of Northern Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Spartan Planning & Wealth Management increased its holdings in Northern Trust by 10,566.7% during the fourth quarter. Spartan Planning & Wealth Management now owns 320 shares of the asset manager’s stock valued at $27,000 after buying an additional 317 shares during the last quarter. Fortitude Family Office LLC bought a new position in shares of Northern Trust during the fourth quarter worth $28,000. Quent Capital LLC boosted its position in shares of Northern Trust by 77.8% during the fourth quarter. Quent Capital LLC now owns 361 shares of the asset manager’s stock worth $30,000 after acquiring an additional 158 shares during the last quarter. Allworth Financial LP boosted its position in shares of Northern Trust by 94.1% during the fourth quarter. Allworth Financial LP now owns 359 shares of the asset manager’s stock worth $30,000 after acquiring an additional 174 shares during the last quarter. Finally, Belpointe Asset Management LLC boosted its position in shares of Northern Trust by 84.5% during the first quarter. Belpointe Asset Management LLC now owns 393 shares of the asset manager’s stock worth $35,000 after acquiring an additional 180 shares during the last quarter. 83.19% of the stock is owned by hedge funds and other institutional investors.

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.