Northern Trust (NASDAQ:NTRS) Stock Price Expected to Rise, Evercore ISI Analyst Says

Key Points

• Evercore ISI has raised its price target for Northern Trust (NASDAQ:NTRS) from $125.00 to $135.00, indicating a potential upside of 1.87% from its current price.
• Truist Financial and Barclays have also increased their price targets for Northern Trust to $132.00 and $136.00 respectively, contributing to a variety of ratings on the stock, with three analysts giving it a Buy rating.
• Insider transactions show that Director Robert Edward Jr. Moritz recently bought 256 shares of the company's stock, reflecting confidence in Northern Trust's future performance.

Northern Trust (NASDAQ:NTRS - Get Free Report) had its price target raised by equities researchers at Evercore ISI from $125.00 to $135.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an "in-line" rating on the asset manager's stock. Evercore ISI's price target suggests a potential upside of 1.87% from the stock's current price.

A number of other research firms also recently weighed in on NTRS. Truist Financial upped their target price on shares of Northern Trust from $128.00 to $132.00 and gave the stock a "hold" rating in a research report on Thursday, August 14th. Wells Fargo & Company raised their price objective on shares of Northern Trust from $111.00 to $120.00 and gave the company an "equal weight" rating in a research note on Thursday, July 24th. Wolfe Research raised Northern Trust from an "underperform" rating to a "peer perform" rating in a research report on Thursday, July 24th. Barclays boosted their target price on Northern Trust from $128.00 to $136.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 24th. Finally, The Goldman Sachs Group set a $135.00 price target on shares of Northern Trust in a research note on Tuesday. Three research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $125.67.

Northern Trust Trading Down 1.0%

NASDAQ:NTRS traded down $1.38 during midday trading on Tuesday, reaching $132.52. 570,621 shares of the stock traded hands, compared to its average volume of 1,515,556. The company has a fifty day moving average of $129.02 and a 200 day moving average of $113.85. Northern Trust has a 12 month low of $81.62 and a 12 month high of $135.48. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.72 and a current ratio of 0.72. The stock has a market capitalization of $25.34 billion, a P/E ratio of 15.56, a PEG ratio of 1.59 and a beta of 1.30.

Northern Trust (NASDAQ:NTRS - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The asset manager reported $2.13 EPS for the quarter, beating analysts' consensus estimates of $2.08 by $0.05. Northern Trust had a net margin of 11.75% and a return on equity of 14.06%. The company had revenue of $2 billion during the quarter, compared to analyst estimates of $1.96 billion. During the same period in the prior year, the business posted $4.34 EPS. The firm's revenue was down 26.4% compared to the same quarter last year. On average, research analysts predict that Northern Trust will post 8.27 EPS for the current year.

Insider Buying and Selling

In related news, Director Robert Edward Jr. Moritz acquired 256 shares of the firm's stock in a transaction on Wednesday, August 13th. The shares were acquired at an average cost of $126.34 per share, for a total transaction of $32,343.04. Following the completion of the transaction, the director directly owned 2,525 shares in the company, valued at approximately $319,008.50. This trade represents a 11.28% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.77% of the company's stock.

Institutional Investors Weigh In On Northern Trust

Several hedge funds have recently made changes to their positions in NTRS. Caldwell Trust Co bought a new stake in shares of Northern Trust in the second quarter valued at about $48,000. Valeo Financial Advisors LLC increased its holdings in Northern Trust by 12.1% during the second quarter. Valeo Financial Advisors LLC now owns 2,597 shares of the asset manager's stock valued at $329,000 after buying an additional 281 shares during the period. Osaic Holdings Inc. boosted its position in Northern Trust by 46.0% during the 2nd quarter. Osaic Holdings Inc. now owns 15,280 shares of the asset manager's stock valued at $1,848,000 after acquiring an additional 4,815 shares in the last quarter. Orion Porfolio Solutions LLC increased its holdings in shares of Northern Trust by 10.8% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 19,360 shares of the asset manager's stock valued at $2,455,000 after acquiring an additional 1,886 shares during the period. Finally, MASTERINVEST Kapitalanlage GmbH bought a new stake in Northern Trust during the second quarter valued at about $760,000. 83.19% of the stock is currently owned by hedge funds and other institutional investors.

Northern Trust Company Profile

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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