Northern Trust (NASDAQ:NTRS) PT Raised to $101.00

Northern Trust (NASDAQ:NTRS) had its target price upped by Bank of America from $93.00 to $101.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the asset manager’s stock. Bank of America‘s price target would suggest a potential upside of 23.85% from the company’s current price.

Several other equities research analysts have also recently commented on NTRS. TheStreet raised shares of Northern Trust from a “c+” rating to a “b-” rating in a research report on Friday, January 12th. Barclays raised their price objective on Northern Trust from $90.00 to $98.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 2nd. Evercore ISI upped their price objective on shares of Northern Trust from $86.00 to $87.00 and gave the company an “in-line” rating in a report on Thursday, April 4th. Jefferies Financial Group upgraded shares of Northern Trust from a “hold” rating to a “buy” rating and upped their price target for the company from $68.00 to $99.00 in a research note on Tuesday, January 9th. Finally, UBS Group raised 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. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $84.58.

Northern Trust Trading Up 2.5 %

Shares of NTRS traded up $1.99 during trading hours on Wednesday, reaching $81.55. The stock had a trading volume of 826,127 shares, compared to its average volume of 1,503,796. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.62. The firm has a 50-day moving average of $83.12 and a 200 day moving average of $78.80. Northern Trust has a 52 week low of $62.44 and a 52 week high of $89.25. The company has a market cap of $16.64 billion, a P/E ratio of 16.05, a P/E/G ratio of 1.73 and a beta of 1.13.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings data on Thursday, January 18th. The asset manager reported $0.52 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.81). The company had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.71 billion. Northern Trust had a net margin of 9.14% and a return on equity of 12.44%. The company’s revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.65 earnings per share. On average, sell-side analysts expect that Northern Trust will post 6.57 earnings per share for the current fiscal year.

Insider Transactions at Northern Trust

In other Northern Trust news, insider Steven L. Fradkin sold 30,392 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was 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 directly owns 55,707 shares in the company, valued at $4,462,687.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.64% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NTRS. Deutsche Bank AG boosted its holdings in shares of Northern Trust by 8.1% during the 3rd quarter. Deutsche Bank AG now owns 597,143 shares of the asset manager’s stock valued at $41,489,000 after acquiring an additional 44,516 shares in the last quarter. Financiere des Professionnels Fonds d investissement inc. grew its holdings in shares of Northern Trust by 51.3% during the fourth quarter. Financiere des Professionnels Fonds d investissement inc. now owns 70,384 shares of the asset manager’s stock worth $5,939,000 after purchasing an additional 23,859 shares during the last quarter. HB Wealth Management LLC acquired a new position in shares of Northern Trust in the fourth quarter valued at approximately $227,000. Nordea Investment Management AB raised its holdings in Northern Trust by 2.4% in the 3rd quarter. Nordea Investment Management AB now owns 12,962 shares of the asset manager’s stock valued at $907,000 after buying an additional 305 shares during the last quarter. Finally, Pathstone Family Office LLC acquired a new position in Northern Trust in the 3rd quarter valued at approximately $715,000. Institutional investors 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.