Northern Trust (NASDAQ:NTRS) Price Target Raised to $116.00

Northern Trust (NASDAQ:NTRS) had its price target upped by Truist Financial from $110.00 to $116.00 in a report issued on Friday,Benzinga reports. The firm presently has a “hold” rating on the asset manager’s stock. Truist Financial’s price objective points to a potential upside of 4.43% from the company’s previous close.

Several other research firms also recently weighed in on NTRS. Keefe, Bruyette & Woods raised their price target on shares of Northern Trust from $113.00 to $122.00 and gave the stock a “market perform” rating in a research note on Friday. Bank of America raised their target price on shares of Northern Trust from $103.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Wells Fargo & Company raised their target price on shares of Northern Trust from $108.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Friday, November 15th. Barclays raised 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 note on Monday, January 6th. Finally, UBS Group raised their target price on shares of Northern Trust from $86.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Northern Trust currently has a consensus rating of “Hold” and an average price target of $110.08.

Northern Trust Price Performance

NTRS stock traded up $1.54 during trading on Friday, hitting $111.08. The stock had a trading volume of 605,098 shares, compared to its average volume of 1,183,578. The company’s 50-day moving average price is $105.83 and its two-hundred day moving average price is $96.40. Northern Trust has a twelve month low of $76.67 and a twelve month high of $111.87. The stock has a market capitalization of $22.02 billion, a P/E ratio of 13.83, a PEG ratio of 1.22 and a beta of 1.08. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings results on Thursday, January 23rd. The asset manager reported $2.26 EPS for the quarter, topping the consensus estimate of $1.96 by $0.30. Northern Trust had a return on equity of 12.75% and a net margin of 10.92%. As a group, research analysts predict that Northern Trust will post 7.56 EPS for the current fiscal year.

Insider Activity

In other Northern Trust news, COO Peter Cherecwich sold 16,153 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $105.18, for a total value of $1,698,972.54. Following the sale, the chief operating officer now owns 4,397 shares of the company’s stock, valued at $462,476.46. The trade was a 78.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Thomas A. South sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $105.80, for a total value of $529,000.00. Following the completion of the sale, the executive vice president now directly owns 49,756 shares in the company, valued at approximately $5,264,184.80. The trade was a 9.13 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,253 shares of company stock valued at $3,238,073. 0.64% of the stock is currently owned by company insiders.

Institutional Trading of Northern Trust

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NTRS. Greenleaf Trust boosted its position in Northern Trust by 9.2% in the 4th quarter. Greenleaf Trust now owns 13,963 shares of the asset manager’s stock valued at $1,431,000 after buying an additional 1,177 shares during the period. Independence Bank of Kentucky boosted its position in Northern Trust by 453.3% in the 4th quarter. Independence Bank of Kentucky now owns 2,075 shares of the asset manager’s stock valued at $213,000 after buying an additional 1,700 shares during the period. Chicago Partners Investment Group LLC boosted its position in Northern Trust by 17.7% in the 4th quarter. Chicago Partners Investment Group LLC now owns 2,311 shares of the asset manager’s stock valued at $236,000 after buying an additional 348 shares during the period. Caprock Group LLC purchased a new position in Northern Trust in the 4th quarter valued at approximately $1,059,000. Finally, Oak Harvest Investment Services boosted its position in Northern Trust by 3.1% in the 4th quarter. Oak Harvest Investment Services now owns 113,315 shares of the asset manager’s stock valued at $11,615,000 after buying an additional 3,417 shares during the period. Hedge funds and other 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.