Jefferies Financial Group Boosts Northern Trust (NASDAQ:NTRS) Price Target to $103.00

Northern Trust (NASDAQ:NTRS) had its price objective raised by Jefferies Financial Group from $101.00 to $103.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the asset manager’s stock. Jefferies Financial Group’s price target would indicate a potential upside of 26.46% from the stock’s previous close.

Other analysts have also recently issued reports about the stock. Wolfe Research cut shares of Northern Trust from a “peer perform” rating to an “underperform” rating and set a $85.00 target price for the company. in a report on Wednesday, January 3rd. Evercore ISI increased 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. Royal Bank of Canada increased their price objective 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. Barclays increased 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. Finally, Bank of America increased their price objective on shares of Northern Trust from $93.00 to $101.00 and gave the stock a “buy” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $84.92.

Northern Trust Stock Up 0.0 %

NTRS opened at $81.45 on Thursday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.61. The firm has a 50 day moving average price of $83.26 and a 200-day moving average price of $78.93. Northern Trust has a twelve month low of $62.44 and a twelve month high of $89.25. The stock has a market capitalization of $16.62 billion, a price-to-earnings ratio of 17.98, a PEG ratio of 1.64 and a beta of 1.13.

Northern Trust (NASDAQ:NTRS) last announced its earnings results on Thursday, January 18th. The asset manager reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.81). Northern Trust had a net margin of 7.59% and a return on equity of 12.57%. The business had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same period in the prior year, the company posted $1.65 earnings per share. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. Equities research analysts forecast that Northern Trust will post 6.73 earnings per share for the current year.

Insider Buying and Selling at Northern Trust

In other Northern Trust news, insider Steven L. Fradkin sold 30,392 shares of the stock in a transaction 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 completion of the transaction, the insider now owns 55,707 shares in the company, valued at $4,462,687.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.64% of the stock is owned by company insiders.

Hedge Funds Weigh In On Northern Trust

Several institutional investors have recently bought and sold shares of NTRS. First Trust Direct Indexing L.P. lifted its holdings in shares of Northern Trust by 4.5% in the 1st quarter. First Trust Direct Indexing L.P. now owns 4,257 shares of the asset manager’s stock worth $379,000 after acquiring an additional 182 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Northern Trust by 0.8% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 490,487 shares of the asset manager’s stock worth $43,614,000 after acquiring an additional 3,861 shares during the last quarter. Tributary Capital Management LLC bought a new stake in shares of Northern Trust in the 1st quarter worth about $53,000. Claro Advisors LLC lifted its holdings in shares of Northern Trust by 18.3% in the 1st quarter. Claro Advisors LLC now owns 9,439 shares of the asset manager’s stock worth $839,000 after acquiring an additional 1,460 shares during the last quarter. Finally, Diversified Trust Co lifted its holdings in shares of Northern Trust by 98.3% in the 1st quarter. Diversified Trust Co now owns 16,914 shares of the asset manager’s stock worth $1,504,000 after acquiring an additional 8,383 shares during the last quarter. Institutional investors own 83.19% of the company’s stock.

About Northern Trust

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.