TD Cowen Issues Positive Forecast for Northern Trust (NASDAQ:NTRS) Stock Price

Key Points

• TD Cowen has upgraded Northern Trust's price target from $152.00 to $155.00, suggesting a potential upside of 24.19% from its current price.
• Five analysts have rated Northern Trust with a buy rating, while the average rating across the board is a hold with a target price of $130.21.
• Northern Trust reported $2.29 earnings per share for the recent quarter, exceeding expectations, and achieved a revenue of $2.03 billion, marking a 2.8% increase year-over-year.

Northern Trust (NASDAQ:NTRS - Get Free Report) had its price target upped by stock analysts at TD Cowen from $152.00 to $155.00 in a report issued on Thursday,Benzinga reports. The firm currently has a "buy" rating on the asset manager's stock. TD Cowen's price target would suggest a potential upside of 24.19% from the company's current price.

Several other equities research analysts have also issued reports on the stock. Barclays boosted their price target on shares of Northern Trust from $128.00 to $136.00 and gave the company an "equal weight" rating in a report on Thursday, July 24th. BMO Capital Markets started coverage on shares of Northern Trust in a report on Friday, October 3rd. They issued a "market perform" rating and a $142.00 price target on the stock. Truist Financial lowered their price target on shares of Northern Trust from $142.00 to $139.00 and set a "hold" rating on the stock in a report on Thursday. Cowen reissued a "buy" rating on shares of Northern Trust in a report on Thursday. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Northern Trust in a report on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Northern Trust presently has an average rating of "Hold" and an average target price of $130.21.

Northern Trust Stock Performance

NTRS stock traded down $0.68 on Thursday, reaching $124.81. 412,716 shares of the company were exchanged, compared to its average volume of 1,488,101. Northern Trust has a 12 month low of $81.62 and a 12 month high of $135.48. The stock's fifty day moving average price is $129.66 and its 200 day moving average price is $117.33. The firm has a market capitalization of $23.87 billion, a PE ratio of 14.67, a PEG ratio of 1.43 and a beta of 1.31. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.72 and a quick ratio of 0.72.

Northern Trust (NASDAQ:NTRS - Get Free Report) last announced its earnings results on Wednesday, October 22nd. The asset manager reported $2.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.26 by $0.03. The business had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.02 billion. Northern Trust had a net margin of 11.75% and a return on equity of 14.06%. Northern Trust's revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.22 earnings per share. On average, research analysts anticipate that Northern Trust will post 8.27 EPS for the current fiscal year.

Insider Buying and Selling at Northern Trust

In other news, Director Robert Edward Jr. Moritz bought 256 shares of the stock in a transaction dated Wednesday, August 13th. The shares were acquired at an average price of $126.34 per share, with a total value of $32,343.04. Following the acquisition, the director owned 2,525 shares in the company, valued at $319,008.50. This trade represents a 11.28% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.77% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in NTRS. GAMMA Investing LLC lifted its position in Northern Trust by 5.8% during the 1st quarter. GAMMA Investing LLC now owns 4,517 shares of the asset manager's stock worth $446,000 after buying an additional 249 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in Northern Trust by 9.1% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 16,317 shares of the asset manager's stock worth $1,610,000 after buying an additional 1,358 shares in the last quarter. Continuum Advisory LLC lifted its position in Northern Trust by 5,340.0% during the 1st quarter. Continuum Advisory LLC now owns 272 shares of the asset manager's stock worth $27,000 after buying an additional 267 shares in the last quarter. Oppenheimer & Co. Inc. lifted its position in Northern Trust by 9.4% during the 1st quarter. Oppenheimer & Co. Inc. now owns 4,443 shares of the asset manager's stock worth $438,000 after buying an additional 380 shares in the last quarter. Finally, Asset Management One Co. Ltd. lifted its position in Northern Trust by 8.4% during the 1st quarter. Asset Management One Co. Ltd. now owns 84,974 shares of the asset manager's stock worth $8,383,000 after buying an additional 6,570 shares in the last quarter. Institutional investors and hedge funds own 83.19% of the company's stock.

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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