Northern Trust (NASDAQ:NTRS) Price Target Raised to $132.00

Northern Trust (NASDAQ:NTRS) had its target price upped by analysts at Truist Financial from $128.00 to $132.00 in a research report issued to clients and investors 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 4.75% from the company’s previous close.

A number of other research analysts have also recently commented on NTRS. Wall Street Zen upgraded shares of Northern Trust from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Evercore ISI raised their price target on shares of Northern Trust from $108.00 to $121.00 and gave the stock an “in-line” rating in a research note on Wednesday, July 2nd. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and set a $118.00 price objective (down previously from $120.00) on shares of Northern Trust in a report on Thursday, July 24th. Wolfe Research raised shares of Northern Trust from an “underperform” rating to a “peer perform” rating in a report on Thursday, July 24th. Finally, Barclays raised their price objective on shares of Northern Trust from $128.00 to $136.00 and gave the stock an “equal weight” rating in a report on Thursday, July 24th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $117.08.

Northern Trust Stock Down 1.9%

Shares of NTRS opened at $126.02 on Thursday. The stock has a market cap of $24.10 billion, a price-to-earnings ratio of 14.81, a P/E/G ratio of 1.70 and a beta of 1.28. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.58. Northern Trust has a 12 month low of $81.62 and a 12 month high of $133.00. The company has a 50-day moving average price of $123.41 and a two-hundred day moving average price of $109.25.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings results on Wednesday, July 23rd. The asset manager reported $2.13 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.05. The firm had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.96 billion. Northern Trust had a net margin of 11.75% and a return on equity of 14.06%. The company’s revenue for the quarter was down 26.4% compared to the same quarter last year. During the same quarter last year, the company earned $4.34 earnings per share. Equities analysts predict that Northern Trust will post 8.27 EPS for the current fiscal year.

Institutional Trading of Northern Trust

A number of hedge funds and other institutional investors have recently modified their holdings of NTRS. CANADA LIFE ASSURANCE Co grew its holdings in Northern Trust by 21.8% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 552,833 shares of the asset manager’s stock worth $70,218,000 after acquiring an additional 99,090 shares during the period. MUFG Securities EMEA plc acquired a new stake in Northern Trust during the 2nd quarter worth $73,000. Taconic Capital Advisors LP acquired a new stake in Northern Trust during the 2nd quarter worth $1,268,000. Tidal Investments LLC grew its holdings in Northern Trust by 7.0% during the 2nd quarter. Tidal Investments LLC now owns 6,050 shares of the asset manager’s stock worth $767,000 after acquiring an additional 394 shares during the period. Finally, Rafferty Asset Management LLC boosted its position in shares of Northern Trust by 0.7% during the second quarter. Rafferty Asset Management LLC now owns 64,684 shares of the asset manager’s stock worth $8,201,000 after purchasing an additional 436 shares in the last quarter. Institutional investors and hedge funds own 83.19% of the company’s stock.

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.