Morgan Stanley Lowers Northern Trust (NASDAQ:NTRS) Price Target to $123.00

Posted by on Jun 2nd, 2022

Northern Trust (NASDAQ:NTRS – Get Rating) had its price objective cut by equities research analysts at Morgan Stanley from $126.00 to $123.00 in a note issued to investors on Thursday, Stock Target Advisor reports. The brokerage currently has an “equal weight” rating on the asset manager’s stock. Morgan Stanley’s price objective indicates a potential upside of 12.70% from the stock’s previous close.

Other analysts also recently issued reports about the company. The Goldman Sachs Group raised Northern Trust from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $128.00 to $141.00 in a research note on Wednesday, March 30th. StockNews.com started coverage on Northern Trust in a report on Thursday, March 31st. They set a “hold” rating for the company. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Northern Trust from $145.00 to $116.00 in a report on Thursday, May 19th. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $127.08.

Shares of NASDAQ NTRS traded up $0.38 during trading hours on Thursday, reaching $109.14. The stock had a trading volume of 2,939 shares, compared to its average volume of 674,205. The business’s fifty day moving average is $109.76 and its two-hundred day moving average is $115.82. Northern Trust has a twelve month low of $100.05 and a twelve month high of $135.15. The company has a market cap of $22.74 billion, a price-to-earnings ratio of 15.16 and a beta of 1.12. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.68 and a quick ratio of 0.68.

Northern Trust (NASDAQ:NTRS – Get Rating) last posted its quarterly earnings results on Tuesday, April 26th. The asset manager reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.66 by $0.11. The firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.69 billion. Northern Trust had a return on equity of 14.30% and a net margin of 23.57%. The business’s revenue was up 8.5% compared to the same quarter last year. During the same period last year, the company earned $1.70 earnings per share. Sell-side analysts forecast that Northern Trust will post 7.8 earnings per share for the current fiscal year.

In related news, EVP Lauren E. Allnutt sold 393 shares of the business’s stock in a transaction on Thursday, March 10th. The shares were sold at an average price of $105.61, for a total value of $41,504.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.55% of the stock is owned by company insiders.

Several hedge funds have recently made changes to their positions in the company. Delos Wealth Advisors LLC acquired a new stake in shares of Northern Trust during the fourth quarter worth about $25,000. Trust Co. of Vermont acquired a new stake in shares of Northern Trust during the fourth quarter worth $36,000. Covestor Ltd acquired a new stake in shares of Northern Trust during the fourth quarter worth $36,000. Atwood & Palmer Inc. lifted its holdings in Northern Trust by 34.5% in the first quarter. Atwood & Palmer Inc. now owns 390 shares of the asset manager’s stock valued at $46,000 after acquiring an additional 100 shares during the period. Finally, Allegheny Financial Group LTD acquired a new stake in Northern Trust in the fourth quarter valued at $50,000. 81.35% of the stock is currently owned by hedge funds and other institutional investors.

Northern Trust Company Profile (Get Rating)

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, Corporate & Institutional Services (C&IS) and Wealth Management.

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