Northern Trust (NASDAQ:NTRS) Stock Price Expected to Rise, Truist Financial Analyst Says

Northern Trust (NASDAQ:NTRS) had its price target hoisted by equities research analysts at Truist Financial from $116.00 to $126.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “hold” rating on the asset manager’s stock. Truist Financial’s price target points to a potential downside of 4.33% from the company’s previous close.

Several other equities research analysts also recently weighed in on NTRS. 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 note on Monday. The Goldman Sachs Group increased their target price on shares of Northern Trust from $89.00 to $101.00 and gave the company a “sell” rating in a research note on Wednesday. Wells Fargo & Company reduced their price target on shares of Northern Trust from $118.00 to $111.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 23rd. Citigroup reduced their price target on shares of Northern Trust from $110.00 to $105.00 and set a “neutral” rating on the stock in a research note on Monday, March 24th. Finally, Bank of America reduced their price target on shares of Northern Trust from $123.00 to $121.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $114.67.

Northern Trust Price Performance

NTRS stock opened at $131.71 on Thursday. Northern Trust has a 52 week low of $80.81 and a 52 week high of $133.00. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.57. The company has a fifty day simple moving average of $109.22 and a two-hundred day simple moving average of $104.57. The firm has a market capitalization of $25.62 billion, a P/E ratio of 12.29, a price-to-earnings-growth ratio of 1.97 and a beta of 1.26.

Northern Trust (NASDAQ:NTRS) last announced its earnings results on Tuesday, April 22nd. The asset manager reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.05. Northern Trust had a net margin of 13.93% and a return on equity of 13.73%. The business had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.95 billion. Analysts anticipate that Northern Trust will post 8.27 earnings per share for the current fiscal year.

Insider Transactions at Northern Trust

In other news, insider Teresa Parker sold 6,467 shares of the firm’s stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $100.62, for a total value of $650,709.54. Following the sale, the insider directly owned 79,391 shares in the company, valued at approximately $7,988,322.42. This trade represents a 7.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Clive Bellows sold 3,300 shares of the firm’s stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $99.95, for a total transaction of $329,835.00. Following the completion of the sale, the executive vice president owned 28,736 shares in the company, valued at $2,872,163.20. This represents a 10.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,772 shares of company stock worth $981,069 over the last 90 days. Company insiders own 0.77% of the company’s stock.

Institutional Trading of Northern Trust

A number of institutional investors have recently bought and sold shares of NTRS. Colonial Trust Co SC boosted its stake in Northern Trust by 6,400.0% in the 4th quarter. Colonial Trust Co SC now owns 260 shares of the asset manager’s stock worth $27,000 after purchasing an additional 256 shares in the last quarter. Continuum Advisory LLC raised 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 during the last quarter. Zions Bancorporation National Association UT purchased a new position in Northern Trust during the 1st quarter worth approximately $29,000. Wayfinding Financial LLC purchased a new position in Northern Trust during the 1st quarter worth approximately $35,000. Finally, Assetmark Inc. raised its position in Northern Trust by 528.3% during the 4th quarter. Assetmark Inc. now owns 377 shares of the asset manager’s stock worth $39,000 after buying an additional 317 shares during the last quarter. 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.