Truist Financial Cuts Northern Trust (NASDAQ:NTRS) Price Target to $139.00

Key Points

• Truist Financial has reduced the price target for Northern Trust from $142.00 to $139.00, maintaining a "hold" rating on the stock, which suggests an upside potential of 11.65% from its current price.
• Analysts have varied opinions on Northern Trust, with a consensus rating of "Hold" and an average target price of $128.31 after several firms set different price targets recently.
• In its latest earnings report, Northern Trust reported an EPS of $2.29, exceeding expectations, while revenue increased by 2.8% year-over-year.

Northern Trust (NASDAQ:NTRS - Get Free Report) had its price objective lowered by investment analysts at Truist Financial from $142.00 to $139.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a "hold" rating on the asset manager's stock. Truist Financial's price target suggests a potential upside of 11.65% from the company's current price.

NTRS has been the subject of several other reports. Royal Bank Of Canada set a $123.00 target price on shares of Northern Trust and gave the company an "outperform" rating in a research report on Monday, June 30th. Barclays boosted their target price on shares of Northern Trust from $128.00 to $136.00 and gave the company an "equal weight" rating in a research report on Thursday, July 24th. Wells Fargo & Company upped their price objective on shares of Northern Trust from $127.00 to $131.00 and gave the stock an "equal weight" rating in a research report on Thursday. Citigroup upped their price objective on shares of Northern Trust from $110.00 to $135.00 and gave the stock a "neutral" rating in a research report on Friday, September 5th. Finally, Evercore ISI upped their price objective on shares of Northern Trust from $125.00 to $135.00 and gave the stock an "in-line" rating in a research report on Tuesday, September 30th. Four equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $128.31.

Northern Trust Stock Performance

NASDAQ NTRS traded down $0.98 during trading on Thursday, reaching $124.50. The company's stock had a trading volume of 90,898 shares, compared to its average volume of 1,486,423. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $23.81 billion, a price-to-earnings ratio of 14.65, a price-to-earnings-growth ratio of 1.43 and a beta of 1.31. Northern Trust has a 12 month low of $81.62 and a 12 month high of $135.48. The firm has a 50 day moving average price of $129.66 and a 200 day moving average price of $117.33.

Northern Trust (NASDAQ:NTRS - Get Free Report) last issued its earnings results on Wednesday, October 22nd. The asset manager reported $2.29 EPS for the quarter, beating the consensus estimate of $2.26 by $0.03. The company had revenue of $2.03 billion during the quarter, compared to analysts' expectations of $2.02 billion. Northern Trust had a net margin of 11.75% and a return on equity of 14.06%. The business's revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the previous year, the company earned $2.22 EPS. As a group, equities analysts anticipate that Northern Trust will post 8.27 EPS for the current fiscal year.

Insider Transactions at Northern Trust

In other Northern Trust news, Director Robert Edward Jr. Moritz purchased 256 shares of the firm's stock in a transaction on Wednesday, August 13th. The stock was purchased at an average cost of $126.34 per share, for a total transaction of $32,343.04. Following the transaction, the director owned 2,525 shares in the company, valued at $319,008.50. The trade was a 11.28% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.77% of the company's stock.

Hedge Funds Weigh In On Northern Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. FNY Investment Advisers LLC bought a new stake in shares of Northern Trust in the 2nd quarter valued at $25,000. Continuum Advisory LLC boosted its stake in shares of Northern Trust by 5,340.0% in the 1st quarter. Continuum Advisory LLC now owns 272 shares of the asset manager's stock valued at $27,000 after purchasing an additional 267 shares during the last quarter. Hantz Financial Services Inc. boosted its stake in shares of Northern Trust by 5,225.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 213 shares of the asset manager's stock valued at $27,000 after purchasing an additional 209 shares during the last quarter. AlphaCore Capital LLC boosted its stake in shares of Northern Trust by 87.4% in the 2nd quarter. AlphaCore Capital LLC now owns 208 shares of the asset manager's stock valued at $27,000 after purchasing an additional 97 shares during the last quarter. Finally, Zions Bancorporation National Association UT bought a new stake in shares of Northern Trust in the 1st quarter valued at $29,000. 83.19% of the stock is currently owned by institutional investors and hedge funds.

About Northern Trust

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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