Northern Trust (NASDAQ:NTRS) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Key Points

• Keefe, Bruyette & Woods raised its price target on Northern Trust from $157 to $175, though it kept an underperform rating. The new target still implies a slight downside from the stock’s prior close.
• Northern Trust has drawn mixed analyst views overall, with a consensus Hold rating and an average price target of $178.75. Recent price targets from firms like UBS, Truist, Barclays, JPMorgan, and BMO have also been moved higher.
• The company reported strong quarterly earnings, posting $2.71 EPS versus estimates of $2.37 and revenue of $2.21 billion, with revenue up 13.8% year over year. Shares were trading near a 52-week high of $185.57 after rising to $184.19 on Thursday.

Northern Trust (NASDAQ:NTRS - Get Free Report) had its price target lifted by stock analysts at Keefe, Bruyette & Woods from $157.00 to $175.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an "underperform" rating on the asset manager's stock. Keefe, Bruyette & Woods' price target would suggest a potential downside of 4.99% from the stock's previous close.

NTRS has been the subject of a number of other research reports. UBS Group set a $186.00 price objective on shares of Northern Trust in a research note on Friday, June 26th. Truist Financial boosted their target price on shares of Northern Trust from $176.00 to $186.00 and gave the company a "hold" rating in a research note on Friday, June 26th. Barclays upped their target price on shares of Northern Trust from $160.00 to $176.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 22nd. JPMorgan Chase & Co. increased their target price on shares of Northern Trust from $170.00 to $179.50 and gave the stock a "neutral" rating in a research report on Monday. Finally, BMO Capital Markets raised shares of Northern Trust from a "market perform" rating to an "outperform" rating and set a $168.00 price target for the company in a report on Monday, April 6th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $178.75.

Northern Trust Stock Performance

NTRS traded up $4.27 on Thursday, hitting $184.19. 389,940 shares of the stock traded hands, compared to its average volume of 1,092,730. Northern Trust has a 52 week low of $118.99 and a 52 week high of $185.57. The firm has a market capitalization of $34.08 billion, a PE ratio of 19.30, a P/E/G ratio of 1.23 and a beta of 1.25. The business has a fifty day moving average price of $169.83 and a two-hundred day moving average price of $154.24. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.51.

Northern Trust (NASDAQ:NTRS - Get Free Report) last issued its earnings results 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 business had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.13 billion. Northern Trust had a return on equity of 15.94% and a net margin of 12.84%.Northern Trust's revenue was up 13.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.90 earnings per share. On average, research analysts predict that Northern Trust will post 11.29 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Clive Bellows sold 2,800 shares of the company's stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $165.02, for a total transaction of $462,056.00. Following the transaction, the insider directly owned 28,217 shares in the company, valued at approximately $4,656,369.34. This represents a 9.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert Edward Jr. Moritz bought 225 shares of Northern Trust stock in a transaction dated Friday, May 1st. The shares were bought at an average price of $166.41 per share, for a total transaction of $37,442.25. Following the completion of the transaction, the director directly owned 8,145 shares of the company's stock, valued at $1,355,409.45. This represents a 2.84% increase in their position. The SEC filing for this purchase provides additional information. Insiders have sold a total of 22,800 shares of company stock valued at $3,785,251 in the last 90 days. 0.66% of the stock is currently owned by insiders.

Institutional Trading of Northern Trust

Hedge funds and other institutional investors have recently modified their holdings of the stock. Triumph Capital Management acquired a new stake in shares of Northern Trust in the 3rd quarter valued at $25,000. Reflection Asset Management bought a new position in Northern Trust in the fourth quarter valued at about $25,000. Board of the Pension Protection Fund acquired a new stake in Northern Trust in the fourth quarter worth about $27,000. Basecamp Wealth Advisors LLC raised its holdings in Northern Trust by 99.0% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 203 shares of the asset manager's stock worth $28,000 after purchasing an additional 101 shares during the last quarter. Finally, Elyxium Wealth LLC bought a new stake in Northern Trust during the 4th quarter worth about $34,000. 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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