Northern Trust (NASDAQ:NTRS) PT Raised to $101.00

Northern Trust (NASDAQ:NTRS) had its price objective upped by Bank of America from $93.00 to $101.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the asset manager’s stock. Bank of America‘s target price points to a potential upside of 24.06% from the company’s previous close.

Other analysts also recently issued reports about the stock. 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. Morgan Stanley reissued an “underweight” rating and set a $86.00 target price (up from $82.00) on shares of Northern Trust in a research note on Tuesday, January 30th. Barclays upped their price target 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. UBS Group upped their price target 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. Finally, Jefferies Financial Group raised shares of Northern Trust from a “hold” rating to a “buy” rating and upped their price target for the stock from $68.00 to $99.00 in a research note on Tuesday, January 9th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Northern Trust has an average rating of “Hold” and an average target price of $84.92.

Northern Trust Price Performance

NASDAQ NTRS opened at $81.41 on Wednesday. The stock has a market capitalization of $16.61 billion, a P/E ratio of 17.97, a P/E/G ratio of 1.64 and a beta of 1.13. Northern Trust has a 1 year low of $62.44 and a 1 year high of $89.25. The business’s fifty day moving average is $83.23 and its two-hundred day moving average is $78.84. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.71.

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

Insider Activity

In other news, insider Steven L. Fradkin sold 30,392 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $4,462,687.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.64% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Atria Wealth Solutions Inc. raised its position in shares of Northern Trust by 3.7% during the fourth quarter. Atria Wealth Solutions Inc. now owns 3,425 shares of the asset manager’s stock valued at $306,000 after buying an additional 123 shares during the last quarter. Ballast Inc. raised its position in Northern Trust by 1.1% in the fourth quarter. Ballast Inc. now owns 12,208 shares of the asset manager’s stock worth $1,030,000 after purchasing an additional 136 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its position in Northern Trust by 2.5% in the second quarter. Mercer Global Advisors Inc. ADV now owns 5,768 shares of the asset manager’s stock worth $428,000 after purchasing an additional 140 shares in the last quarter. Vontobel Holding Ltd. raised its position in Northern Trust by 2.4% in the first quarter. Vontobel Holding Ltd. now owns 5,921 shares of the asset manager’s stock worth $715,000 after purchasing an additional 140 shares in the last quarter. Finally, Mather Group LLC. raised its position in Northern Trust by 3.6% in the fourth quarter. Mather Group LLC. now owns 4,271 shares of the asset manager’s stock worth $360,000 after purchasing an additional 147 shares in the last quarter. Institutional investors and hedge funds 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.