Northern Trust (NASDAQ:NTRS) Price Target Increased to $101.00 by Analysts at Bank of America

Northern Trust (NASDAQ:NTRS) had its target price lifted by stock analysts at Bank of America from $93.00 to $101.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the asset manager’s stock. Bank of America‘s price target would indicate a potential upside of 24.06% from the stock’s previous close.

NTRS has been the topic of a number of other reports. Royal Bank of Canada upped their target price on shares of Northern Trust from $82.00 to $86.00 and gave the company an “outperform” rating in a report on Friday, January 19th. 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. Evercore ISI upped their price target on shares of Northern Trust from $86.00 to $87.00 and gave the company an “in-line” rating in a research note on Thursday, April 4th. TheStreet upgraded shares of Northern Trust from a “c+” rating to a “b-” rating in a research note on Friday, January 12th. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $86.00 price target (up previously from $82.00) on shares of Northern Trust in a research note on Tuesday, January 30th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $84.92.

Northern Trust Trading Up 0.2 %

Shares of NASDAQ:NTRS opened at $81.41 on Wednesday. The company’s 50-day moving average price is $83.23 and its two-hundred day moving average price is $78.84. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.71. Northern Trust has a one year low of $62.44 and a one year high of $89.25. The stock has a market capitalization of $16.61 billion, a PE ratio of 17.97, a price-to-earnings-growth ratio of 1.64 and a beta of 1.13.

Northern Trust (NASDAQ:NTRS) last issued its earnings results on Thursday, January 18th. The asset manager reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.81). The firm 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 7.59% and a return on equity of 12.57%. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.65 earnings per share. On average, equities analysts forecast that Northern Trust will post 6.57 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Steven L. Fradkin sold 30,392 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $80.11, for a total transaction of $2,434,703.12. Following the sale, the insider now owns 55,707 shares in the company, valued at approximately $4,462,687.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.64% of the company’s stock.

Institutional Trading of Northern Trust

Several large investors have recently made changes to their positions in NTRS. Deutsche Bank AG lifted its stake in Northern Trust by 8.1% in the 3rd quarter. Deutsche Bank AG now owns 597,143 shares of the asset manager’s stock valued at $41,489,000 after purchasing an additional 44,516 shares during the last quarter. Financiere des Professionnels Fonds d investissement inc. lifted its stake in Northern Trust by 51.3% in the 4th quarter. Financiere des Professionnels Fonds d investissement inc. now owns 70,384 shares of the asset manager’s stock valued at $5,939,000 after purchasing an additional 23,859 shares during the last quarter. HB Wealth Management LLC bought a new position in Northern Trust in the 4th quarter valued at approximately $227,000. Nordea Investment Management AB lifted its stake 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 purchasing an additional 305 shares during the last quarter. Finally, Pathstone Family Office LLC bought a new position in shares of Northern Trust during the third quarter valued at $715,000. 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.