Truist Financial Increases Northern Trust (NASDAQ:NTRS) Price Target to $132.00

Northern Trust (NASDAQ:NTRS) had its price target lifted by Truist Financial from $128.00 to $132.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “hold” rating on the asset manager’s stock. Truist Financial’s price objective points to a potential upside of 4.75% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. Wells Fargo & Company upped their price objective on shares of Northern Trust from $111.00 to $120.00 and gave the company an “equal weight” rating in a research report on Thursday, July 24th. Barclays upped their price objective on shares of Northern Trust from $128.00 to $136.00 and gave the company an “equal weight” rating in a research report on Thursday, July 24th. Wall Street Zen raised shares of Northern Trust from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Wolfe Research raised shares of Northern Trust from an “underperform” rating to a “peer perform” rating in a research report on Thursday, July 24th. Finally, Evercore ISI upped their price objective on shares of Northern Trust from $108.00 to $121.00 and gave the company an “in-line” rating in a research report on Wednesday, July 2nd. Four analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Northern Trust currently has an average rating of “Hold” and an average price target of $117.08.

Northern Trust Stock Down 1.9%

Shares of NASDAQ NTRS opened at $126.02 on Thursday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.58. The stock has a fifty day moving average price of $123.41 and a 200 day moving average price of $109.25. The company has a market cap of $24.10 billion, a P/E ratio of 14.81, a P/E/G ratio of 1.70 and a beta of 1.28. Northern Trust has a 12-month low of $81.62 and a 12-month high of $133.00.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings data on Wednesday, July 23rd. The asset manager reported $2.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.08 by $0.05. The company had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.96 billion. Northern Trust had a net margin of 11.75% and a return on equity of 14.06%. The firm’s revenue for the quarter was down 26.4% on a year-over-year basis. During the same period in the prior year, the company posted $4.34 EPS. Research analysts anticipate that Northern Trust will post 8.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Northern Trust

Large investors have recently bought and sold shares of the business. FNY Investment Advisers LLC bought a new position in Northern Trust in the second quarter worth about $25,000. AlphaCore Capital LLC lifted its holdings in Northern Trust by 87.4% in the second quarter. AlphaCore Capital LLC now owns 208 shares of the asset manager’s stock worth $27,000 after acquiring an additional 97 shares during the last quarter. Hantz Financial Services Inc. raised its holdings in shares of Northern Trust by 5,225.0% during the second quarter. Hantz Financial Services Inc. now owns 213 shares of the asset manager’s stock valued at $27,000 after buying an additional 209 shares during the last quarter. Clearstead Trust LLC bought a new stake in shares of Northern Trust during the second quarter valued at approximately $29,000. Finally, Colonial Trust Co SC raised its holdings in shares of Northern Trust by 6,400.0% during the fourth 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 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.