Northern Trust (NASDAQ:NTRS - Get Free Report) had its target price raised by stock analysts at Barclays from $128.00 to $136.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an "equal weight" rating on the asset manager's stock. Barclays's target price points to a potential upside of 5.44% from the company's current price.
Other equities research analysts also recently issued research reports about the company. Wolfe Research raised Northern Trust from an "underperform" rating to a "peer perform" rating in a research report on Thursday. Morgan Stanley raised their price objective on Northern Trust from $103.00 to $106.00 and gave the stock an "underweight" rating in a research note on Tuesday, July 1st. Bank of America reduced their price target on Northern Trust from $123.00 to $121.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Evercore ISI boosted their price objective on Northern Trust from $108.00 to $121.00 and gave the company an "in-line" rating in a research report on Wednesday, July 2nd. Finally, Truist Financial lifted their price target on Northern Trust from $116.00 to $126.00 and gave the stock a "hold" rating in a research note on Thursday, July 3rd. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $116.75.
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Northern Trust Price Performance
NASDAQ NTRS traded up $4.76 during trading hours on Thursday, reaching $128.99. The company's stock had a trading volume of 986,366 shares, compared to its average volume of 1,650,265. The firm's 50-day moving average price is $116.32 and its 200-day moving average price is $106.67. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.57. Northern Trust has a 1 year low of $80.81 and a 1 year high of $133.00. The company has a market capitalization of $25.09 billion, a price-to-earnings ratio of 12.03, a PEG ratio of 1.88 and a beta of 1.26.
Northern Trust (NASDAQ:NTRS - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The asset manager reported $2.13 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.05. Northern Trust had a return on equity of 13.73% and a net margin of 13.93%. The company had revenue of $2 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same quarter in the prior year, the firm posted $4.34 EPS. Northern Trust's quarterly revenue was down 26.4% compared to the same quarter last year. On average, equities research analysts predict that Northern Trust will post 8.27 EPS for the current fiscal year.
Insider Buying and Selling
In other Northern Trust news, insider Teresa Parker sold 6,467 shares of the company's stock in a transaction on Friday, May 9th. The stock was sold at an average price of $100.62, for a total value of $650,709.54. Following the transaction, the insider owned 79,391 shares of the company's stock, valued at approximately $7,988,322.42. This represents a 7.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Clive Bellows sold 3,300 shares of the business's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $99.95, for a total transaction of $329,835.00. Following the transaction, the executive vice president owned 28,736 shares in the company, valued at approximately $2,872,163.20. This represents a 10.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,772 shares of company stock valued at $981,069. 0.77% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Northern Trust
A number of large investors have recently bought and sold shares of the business. Massachusetts Financial Services Co. MA increased its holdings in shares of Northern Trust by 4.9% during the first quarter. Massachusetts Financial Services Co. MA now owns 7,850,088 shares of the asset manager's stock worth $774,411,000 after buying an additional 363,472 shares in the last quarter. Geode Capital Management LLC raised its holdings in Northern Trust by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 4,904,871 shares of the asset manager's stock worth $501,444,000 after purchasing an additional 30,908 shares during the period. Invesco Ltd. raised its holdings in shares of Northern Trust by 19.3% during the first quarter. Invesco Ltd. now owns 3,443,599 shares of the asset manager's stock worth $339,711,000 after acquiring an additional 558,287 shares during the period. American Century Companies Inc. increased its stake in Northern Trust by 0.7% in the 1st quarter. American Century Companies Inc. now owns 3,013,123 shares of the asset manager's stock valued at $297,245,000 after buying an additional 20,010 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in Northern Trust by 1.6% in the 4th quarter. Wellington Management Group LLP now owns 2,532,401 shares of the asset manager's stock valued at $259,571,000 after buying an additional 39,592 shares during the last quarter. 83.19% of the stock is currently owned by institutional investors.
Northern Trust Company Profile
(
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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