Morgan Stanley Issues Pessimistic Forecast for Northern Trust (NASDAQ:NTRS) Stock Price

Northern Trust (NASDAQ:NTRS) had its price objective cut by equities research analysts at Morgan Stanley from $138.00 to $136.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the asset manager’s stock. Morgan Stanley’s target price would indicate a potential upside of 30.91% from the company’s current price.

A number of other research firms have also recently commented on NTRS. Barclays boosted their target price on shares of Northern Trust from $115.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. UBS Group upped their price objective on shares of Northern Trust from $110.00 to $114.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. Deutsche Bank Aktiengesellschaft lifted their target price on Northern Trust from $100.00 to $108.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Royal Bank of Canada increased their price target on Northern Trust from $107.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, January 24th. Finally, Truist Financial lifted their price objective on Northern Trust from $110.00 to $116.00 and gave the stock a “hold” rating in a report on Friday, January 24th. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $113.50.

Northern Trust Stock Down 1.4 %

Northern Trust stock traded down $1.48 during trading on Thursday, reaching $103.89. 536,218 shares of the company’s stock were exchanged, compared to its average volume of 1,220,708. The company’s 50-day moving average is $108.21 and its two-hundred day moving average is $101.56. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.68. Northern Trust has a 52-week low of $79.30 and a 52-week high of $114.67. The firm has a market cap of $20.33 billion, a price-to-earnings ratio of 10.62, a PEG ratio of 1.72 and a beta of 1.07.

Northern Trust (NASDAQ:NTRS) last posted its earnings results on Thursday, January 23rd. The asset manager reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $0.30. Northern Trust had a return on equity of 13.74% and a net margin of 12.77%. On average, analysts predict that Northern Trust will post 8.27 earnings per share for the current year.

Insider Buying and Selling

In other Northern Trust news, COO Peter Cherecwich sold 26,132 shares of the firm’s stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $112.36, for a total value of $2,936,191.52. Following the sale, the chief operating officer now directly owns 26,586 shares in the company, valued at approximately $2,987,202.96. This trade represents a 49.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Jane Karpinski sold 2,262 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $111.33, for a total transaction of $251,828.46. Following the transaction, the executive vice president now owns 17,236 shares of the company’s stock, valued at $1,918,883.88. This represents a 11.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,335 shares of company stock worth $3,970,211 over the last quarter. 0.64% of the stock is owned by company insiders.

Institutional Investors Weigh In On Northern Trust

A number of hedge funds have recently made changes to their positions in NTRS. Y.D. More Investments Ltd increased its position in Northern Trust by 118.4% in the 4th quarter. Y.D. More Investments Ltd now owns 249 shares of the asset manager’s stock valued at $26,000 after acquiring an additional 135 shares during the period. Colonial Trust Co SC increased 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 purchasing an additional 256 shares during the period. Empirical Asset Management LLC bought a new stake in shares of Northern Trust during the fourth quarter valued at about $33,000. Brooklyn Investment Group grew its position in Northern Trust by 51.2% in the 4th quarter. Brooklyn Investment Group now owns 378 shares of the asset manager’s stock valued at $39,000 after buying an additional 128 shares in the last quarter. Finally, Assetmark Inc. increased its stake in Northern Trust by 528.3% during the 4th quarter. Assetmark Inc. now owns 377 shares of the asset manager’s stock valued at $39,000 after buying an additional 317 shares during the period. 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.