Northern Trust (NASDAQ:NTRS) Price Target Raised to $170.00

Key Points

• JPMorgan raised its price target on Northern Trust from $153.50 to $170 while keeping a neutral rating, implying about 5.3% upside from the prior close.
• Other analysts also turned more positive: BMO Capital upgraded the stock to outperform and RBC lifted its target to $178. Overall, Northern Trust still carries a consensus Hold rating with an average target of $164.08.
• The stock was trading up 0.7% at $161.47 on Monday after reporting stronger-than-expected quarterly results, including EPS of $2.71 versus $2.37 expected and revenue of $2.21 billion versus $2.13 billion expected.

Northern Trust (NASDAQ:NTRS - Get Free Report) had its price objective upped by analysts at JPMorgan Chase & Co. from $153.50 to $170.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a "neutral" rating on the asset manager's stock. JPMorgan Chase & Co.'s price objective suggests a potential upside of 5.28% from the stock's previous close.

Several other brokerages have also recently issued reports on NTRS. BMO Capital Markets raised Northern Trust from a "market perform" rating to an "outperform" rating and set a $168.00 price objective on the stock in a research note on Monday, April 6th. Morgan Stanley increased their price objective on Northern Trust from $131.00 to $140.00 and gave the stock an "underweight" rating in a research note on Friday, January 23rd. Weiss Ratings raised Northern Trust from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, May 4th. Royal Bank Of Canada increased their price objective on Northern Trust from $159.00 to $178.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 22nd. Finally, Evercore increased their price objective on Northern Trust from $142.00 to $155.00 and gave the stock an "in-line" rating in a research note on Friday, January 23rd. Four research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Northern Trust presently has a consensus rating of "Hold" and an average price target of $164.08.

Northern Trust Trading Up 0.7%

NASDAQ NTRS traded up $1.06 during trading hours on Monday, hitting $161.47. 462,015 shares of the company were exchanged, compared to its average volume of 1,105,364. The stock has a 50-day moving average price of $148.41 and a 200 day moving average price of $141.76. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.51. Northern Trust has a 52 week low of $103.54 and a 52 week high of $173.18. The stock has a market cap of $29.88 billion, a PE ratio of 16.91, a price-to-earnings-growth ratio of 1.16 and a beta of 1.27.

Northern Trust (NASDAQ:NTRS - Get Free Report) last issued its quarterly earnings data on Tuesday, April 21st. The asset manager reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.37 by $0.34. The company had revenue of $2.21 billion for the quarter, compared to analysts' expectations of $2.13 billion. Northern Trust had a return on equity of 15.94% and a net margin of 12.84%.The firm's revenue for the quarter was up 13.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.90 earnings per share. Analysts forecast that Northern Trust will post 10.63 earnings per share for the current fiscal year.

Insider Transactions at Northern Trust

In related news, Director Robert Edward Jr. Moritz purchased 225 shares of the business's stock in a transaction on Friday, May 1st. The shares were bought at an average cost of $166.41 per share, with a total value of $37,442.25. Following the transaction, the director owned 8,145 shares of the company's stock, valued at approximately $1,355,409.45. This trade represents a 2.84% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Guy Gibson sold 3,009 shares of the stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $142.39, for a total value of $428,451.51. Following the sale, the insider directly owned 29,332 shares in the company, valued at $4,176,583.48. This represents a 9.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 32,705 shares of company stock valued at $5,211,464 in the last quarter. Insiders own 0.66% of the company's stock.

Institutional Investors Weigh In On Northern Trust

Institutional investors have recently modified their holdings of the business. Triumph Capital Management acquired a new stake in shares of Northern Trust during the 3rd quarter valued at about $25,000. Reflection Asset Management acquired a new stake in shares of Northern Trust during the 4th quarter valued at about $25,000. Board of the Pension Protection Fund acquired a new stake in shares of Northern Trust during the 4th quarter valued at about $27,000. Elyxium Wealth LLC acquired a new stake in shares of Northern Trust during the 4th quarter valued at about $34,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of Northern Trust during the 4th quarter valued at about $35,000. 83.19% of the stock is currently owned by institutional investors and hedge funds.

About Northern Trust

Northern Trust Corporation NASDAQ: NTRS is a global financial services firm headquartered in Chicago that provides asset servicing, asset management and wealth management solutions to institutions, corporations and high-net-worth individuals. The company's core businesses include custody and fund administration, investment operations outsourcing, trust and fiduciary services, private banking, and retirement and defined contribution plan services.

Northern Trust's product and service offerings span custody and fund accounting, portfolio and performance analytics, securities lending, cash management and foreign exchange, as well as discretionary and non-discretionary investment management.

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