Northern Trust (NASDAQ:NTRS - Get Free Report) had its price target increased by equities researchers at Bank of America from $93.00 to $101.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a "buy" rating on the asset manager's stock. Bank of America's price objective would indicate a potential upside of 24.34% from the company's previous close.
A number of other research firms also recently issued reports on NTRS. Royal Bank of Canada lifted their price objective on Northern Trust from $82.00 to $86.00 and gave the stock an "outperform" rating in a research note on Friday, January 19th. Morgan Stanley reiterated an "underweight" rating and set a $86.00 price objective (up previously from $82.00) on shares of Northern Trust in a research report on Tuesday, January 30th. UBS Group upped their target price on shares of Northern Trust from $72.00 to $84.00 and gave the company a "neutral" rating in a research report on Tuesday, January 9th. Evercore ISI lifted their price target on Northern Trust from $86.00 to $87.00 and gave the stock an "in-line" rating in a research report on Thursday, April 4th. Finally, Jefferies Financial Group upgraded Northern Trust from a "hold" rating to a "buy" rating and upped their price objective for the company from $68.00 to $99.00 in a research report on Tuesday, January 9th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $84.58.
Check Out Our Latest Analysis on Northern Trust
Northern Trust Price Performance
NTRS traded up $1.67 during trading on Wednesday, reaching $81.23. 1,507,531 shares of the company traded hands, compared to its average volume of 1,513,741. The company has a market cap of $16.57 billion, a P/E ratio of 15.99, a PEG ratio of 1.73 and a beta of 1.13. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.71 and a current ratio of 0.71. Northern Trust has a 12-month low of $62.44 and a 12-month high of $89.25. The firm has a fifty day simple moving average of $83.12 and a 200 day simple moving average of $78.80.
Northern Trust (NASDAQ:NTRS - Get Free Report) last posted its earnings results on Tuesday, April 16th. The asset manager reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.23. The company had revenue of $1.65 billion during the quarter, compared to analysts' expectations of $1.79 billion. Northern Trust had a net margin of 9.14% and a return on equity of 12.44%. On average, equities analysts forecast that Northern Trust will post 6.57 EPS for the current year.
Insider Buying and Selling at Northern Trust
In other news, insider Steven L. Fradkin sold 30,392 shares of Northern Trust stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $80.11, for a total transaction of $2,434,703.12. Following the completion of the sale, the insider now directly owns 55,707 shares in the company, valued at $4,462,687.77. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.64% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Northern Trust
A number of institutional investors have recently modified their holdings of NTRS. Vontobel Holding Ltd. raised its position in Northern Trust by 2.4% during the 1st quarter. Vontobel Holding Ltd. now owns 5,921 shares of the asset manager's stock valued at $715,000 after purchasing an additional 140 shares in the last quarter. Allianz Asset Management GmbH lifted its stake in Northern Trust by 26.4% in the first quarter. Allianz Asset Management GmbH now owns 12,985 shares of the asset manager's stock worth $1,512,000 after acquiring an additional 2,716 shares during the period. Prudential PLC purchased a new stake in Northern Trust in the first quarter worth about $548,000. Vanguard Group Inc. grew its holdings in Northern Trust by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 22,711,584 shares of the asset manager's stock worth $2,644,763,000 after acquiring an additional 457,748 shares in the last quarter. Finally, Zions Bancorporation N.A. raised its holdings in shares of Northern Trust by 271.7% in the 1st quarter. Zions Bancorporation N.A. now owns 918 shares of the asset manager's stock valued at $107,000 after purchasing an additional 671 shares in the last quarter. 83.19% of the stock is owned by hedge funds and other institutional investors.
About Northern Trust
(
Get Free Report)
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.
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