Truist Financial Has Lowered Expectations for Northern Trust (NASDAQ:NTRS) Stock Price

Northern Trust (NASDAQ:NTRS) had its target price reduced by stock analysts at Truist Financial from $116.00 to $98.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “hold” rating on the asset manager’s stock. Truist Financial’s price objective indicates a potential upside of 13.94% from the stock’s previous close.

A number of other equities analysts have also recently commented on NTRS. Barclays raised their target price on Northern Trust from $115.00 to $118.00 and gave the stock an “equal weight” rating in a report on Monday, January 6th. Evercore ISI cut their price objective on Northern Trust from $113.00 to $104.00 and set an “in-line” rating for the company in a research note on Tuesday, April 1st. UBS Group raised their target price on shares of Northern Trust from $110.00 to $114.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Keefe, Bruyette & Woods upped their price target on shares of Northern Trust from $113.00 to $122.00 and gave the stock a “market perform” rating in a research report on Friday, January 24th. Finally, Morgan Stanley decreased their price objective on shares of Northern Trust from $136.00 to $132.00 and set an “equal weight” rating on the stock in a research report on Wednesday. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $112.31.

Northern Trust Stock Down 5.0 %

NTRS stock opened at $86.01 on Friday. The business’s 50-day moving average is $105.63 and its two-hundred day moving average is $103.08. The company has a market cap of $16.83 billion, a price-to-earnings ratio of 8.79, a P/E/G ratio of 1.72 and a beta of 1.10. Northern Trust has a fifty-two week low of $79.32 and a fifty-two week high of $114.67. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.68.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings data on Thursday, January 23rd. The asset manager reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.96 by $0.30. Northern Trust had a net margin of 12.77% and a return on equity of 13.74%. As a group, analysts forecast that Northern Trust will post 8.27 earnings per share for the current year.

Insider Activity

In other Northern Trust news, EVP Thomas A. South sold 3,804 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $113.00, for a total transaction of $429,852.00. Following the transaction, the executive vice president now owns 81,794 shares in the company, valued at $9,242,722. The trade was a 4.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John Landers sold 900 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $111.44, for a total transaction of $100,296.00. Following the completion of the sale, the insider now owns 7,640 shares of the company’s stock, valued at $851,401.60. This trade represents a 10.54 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,335 shares of company stock valued at $3,970,211. 0.77% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in NTRS. Massachusetts Financial Services Co. MA boosted its position in Northern Trust by 1.2% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,486,616 shares of the asset manager’s stock valued at $767,378,000 after buying an additional 92,162 shares during the period. Geode Capital Management LLC raised its stake in shares of Northern Trust by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 4,904,871 shares of the asset manager’s stock valued at $501,444,000 after acquiring an additional 30,908 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Northern Trust by 9.9% in the third quarter. JPMorgan Chase & Co. now owns 4,296,442 shares of the asset manager’s stock valued at $386,809,000 after purchasing an additional 388,692 shares during the period. Invesco Ltd. increased its holdings in Northern Trust by 7.5% during the 4th quarter. Invesco Ltd. now owns 2,885,312 shares of the asset manager’s stock worth $295,744,000 after purchasing an additional 202,327 shares during the period. Finally, Wellington Management Group LLP raised its position in Northern Trust by 1.6% during the 4th quarter. Wellington Management Group LLP now owns 2,532,401 shares of the asset manager’s stock valued at $259,571,000 after purchasing an additional 39,592 shares in the last quarter. 83.19% of the stock is currently owned by institutional investors.

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.