Northern Trust (NASDAQ:NTRS) Price Target Raised to $101.00 at Bank of America

Northern Trust (NASDAQ:NTRSFree Report) had its target price raised by Bank of America from $93.00 to $101.00 in a research report released on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the asset manager’s stock.

A number of other research firms have also weighed in on NTRS. Royal Bank of Canada upped their target price on shares of Northern Trust from $82.00 to $86.00 and gave the stock an outperform rating in a report on Friday, January 19th. Morgan Stanley reaffirmed an underweight rating and issued a $86.00 price objective (up from $82.00) on shares of Northern Trust in a research report on Tuesday, January 30th. Jefferies Financial Group raised shares of Northern Trust from a hold rating to a buy rating and upped their price objective for the stock from $68.00 to $99.00 in a research report on Tuesday, January 9th. UBS Group upped their price objective on shares of Northern Trust from $72.00 to $84.00 and gave the stock a neutral rating in a research report on Tuesday, January 9th. Finally, TheStreet raised shares of Northern Trust from a c+ rating to a b- rating in a research report on Friday, January 12th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $84.58.

View Our Latest Analysis on NTRS

Northern Trust Trading Up 2.1 %

NTRS opened at $81.23 on Wednesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.71. Northern Trust has a fifty-two week low of $62.44 and a fifty-two week high of $89.25. The firm has a market capitalization of $16.57 billion, a PE ratio of 17.93, a P/E/G ratio of 1.64 and a beta of 1.13. The company’s 50-day moving average is $83.17 and its 200 day moving average is $78.82.

Northern Trust (NASDAQ:NTRSGet Free Report) last posted its earnings results on Thursday, January 18th. The asset manager reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.81). Northern Trust had a return on equity of 12.57% and a net margin of 7.59%. The business had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the prior year, the company earned $1.65 EPS. The company’s revenue was up 1.9% on a year-over-year basis. As a group, research analysts predict that Northern Trust will post 6.57 earnings per share for the current fiscal year.

Insider Transactions at Northern Trust

In other news, insider Steven L. Fradkin sold 30,392 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $80.11, for a total transaction of $2,434,703.12. Following the completion of the sale, the insider now owns 55,707 shares in the company, valued at approximately $4,462,687.77. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.64% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of NTRS. Wellington Management Group LLP grew its stake in Northern Trust by 140.2% in the 4th quarter. Wellington Management Group LLP now owns 5,802,792 shares of the asset manager’s stock valued at $489,640,000 after buying an additional 3,387,002 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Northern Trust by 31.2% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 6,533,855 shares of the asset manager’s stock valued at $551,327,000 after buying an additional 1,553,783 shares in the last quarter. Norges Bank purchased a new position in Northern Trust in the 4th quarter valued at approximately $134,901,000. Goldman Sachs Group Inc. grew its stake in Northern Trust by 31.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 6,080,885 shares of the asset manager’s stock valued at $513,105,000 after buying an additional 1,468,262 shares in the last quarter. Finally, Confluence Investment Management LLC purchased a new position in Northern Trust in the 1st quarter valued at approximately $105,665,000. 83.19% of the stock is currently owned by hedge funds and other institutional investors.

Northern Trust Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Northern Trust (NASDAQ:NTRS)

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