Northern Trust (NASDAQ:NTRS) Price Target Raised to $189.00

Key Points

• Wells Fargo raised its price target on Northern Trust from $175 to $189 while keeping an equal weight rating, implying about 8.16% upside from the current price.
• Northern Trust has recently seen mixed analyst sentiment overall, with MarketBeat showing a consensus Hold rating and a consensus price target of $165.25, even as several firms lifted targets or upgraded the stock.
• The company reported better-than-expected quarterly earnings, posting $2.71 EPS on $2.21 billion in revenue, both above estimates, and revenue rose 13.8% year over year.

Northern Trust (NASDAQ:NTRS - Get Free Report) had its price target upped by stock analysts at Wells Fargo & Company from $175.00 to $189.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an "equal weight" rating on the asset manager's stock. Wells Fargo & Company's target price points to a potential upside of 8.16% from the stock's current price.

Other equities research analysts also recently issued reports about the stock. The Goldman Sachs Group raised their target price on shares of Northern Trust from $151.00 to $169.00 and gave the company a "neutral" rating in a research note on Wednesday, April 22nd. Royal Bank Of Canada upped their price objective on Northern Trust from $159.00 to $178.00 and gave the company an "outperform" rating in a research note on Wednesday, April 22nd. Zacks Research raised Northern Trust from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 12th. Truist Financial lifted their target price on Northern Trust from $155.00 to $176.00 and gave the stock a "hold" rating in a research note on Wednesday, April 22nd. Finally, Weiss Ratings upgraded Northern Trust from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $165.25.

Northern Trust Price Performance

Shares of NTRS opened at $174.74 on Wednesday. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.51. The company's fifty day simple moving average is $166.51 and its 200 day simple moving average is $151.14. Northern Trust has a 1-year low of $117.76 and a 1-year high of $177.78. The company has a market cap of $32.33 billion, a price-to-earnings ratio of 18.37, a PEG ratio of 1.26 and a beta of 1.25.

Northern Trust (NASDAQ:NTRS - Get Free Report) last announced its quarterly earnings data on Tuesday, April 21st. The asset manager reported $2.71 EPS for the quarter, beating analysts' consensus estimates of $2.37 by $0.34. The company had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.13 billion. Northern Trust had a net margin of 12.84% and a return on equity of 15.94%. The company's quarterly revenue was up 13.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.90 EPS. On average, research analysts forecast that Northern Trust will post 10.68 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Clive Bellows sold 2,800 shares of the business's stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $165.02, for a total transaction of $462,056.00. Following the completion of the sale, the insider owned 28,217 shares in the company, valued at $4,656,369.34. The trade was a 9.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO David W. Fox, Jr. sold 19,987 shares of the company's stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $166.16, for a total value of $3,321,039.92. Following the completion of the transaction, the chief financial officer directly owned 18,588 shares in the company, valued at $3,088,582.08. The trade was a 51.81% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 22,800 shares of company stock worth $3,785,251 over the last three months. Insiders own 0.66% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in NTRS. Parallel Advisors LLC raised its position in shares of Northern Trust by 10.3% in the first quarter. Parallel Advisors LLC now owns 1,910 shares of the asset manager's stock valued at $267,000 after buying an additional 179 shares in the last quarter. Vestor Capital LLC grew its position in Northern Trust by 131.1% during the first quarter. Vestor Capital LLC now owns 6,496 shares of the asset manager's stock worth $907,000 after buying an additional 3,685 shares in the last quarter. Groupe la Francaise increased its stake in Northern Trust by 9.7% during the 1st quarter. Groupe la Francaise now owns 56,620 shares of the asset manager's stock worth $7,902,000 after acquiring an additional 5,005 shares during the period. Bank of America Corp DE raised its holdings in Northern Trust by 5.6% in the 1st quarter. Bank of America Corp DE now owns 622,852 shares of the asset manager's stock valued at $86,931,000 after acquiring an additional 33,029 shares in the last quarter. Finally, Edgestream Partners L.P. raised its holdings in Northern Trust by 0.9% in the 1st quarter. Edgestream Partners L.P. now owns 98,786 shares of the asset manager's stock valued at $13,788,000 after acquiring an additional 867 shares in the last quarter. Institutional investors and hedge funds own 83.19% of the company's stock.

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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