Northern Trust (NASDAQ:NTRS) Shares Gap Up to $79.56

Northern Trust Co. (NASDAQ:NTRS)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $79.56, but opened at $81.29. Northern Trust shares last traded at $81.82, with a volume of 215,243 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Wolfe Research lowered shares of Northern Trust from a “peer perform” rating to an “underperform” rating and set a $85.00 target price on the stock. in a report on Wednesday, January 3rd. Barclays increased their price target 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. UBS Group lifted their price objective on shares of Northern Trust from $72.00 to $84.00 and gave the stock a “neutral” rating in a report on Tuesday, January 9th. Evercore ISI increased their target price 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. Finally, Morgan Stanley restated an “underweight” rating and set a $86.00 price target (up from $82.00) on shares of Northern Trust in a report on Tuesday, January 30th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $83.09.

Northern Trust Stock Performance

The company has a market cap of $16.55 billion, a P/E ratio of 15.66, a P/E/G ratio of 1.73 and a beta of 1.13. The business has a fifty day moving average of $83.12 and a 200 day moving average of $78.80. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.62.

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

Insiders Place Their Bets

In related news, insider Steven L. Fradkin sold 30,392 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $80.11, for a total value 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 link. Corporate insiders own 0.64% of the company’s stock.

Institutional Investors Weigh In On Northern Trust

A number of institutional investors have recently made changes to their positions in NTRS. Spartan Planning & Wealth Management lifted its position in Northern Trust by 10,566.7% in the 4th quarter. Spartan Planning & Wealth Management now owns 320 shares of the asset manager’s stock valued at $27,000 after acquiring an additional 317 shares in the last quarter. Fortitude Family Office LLC bought a new stake in shares of Northern Trust in the fourth quarter worth approximately $28,000. Quent Capital LLC raised its holdings in shares of Northern Trust by 77.8% during the fourth quarter. Quent Capital LLC now owns 361 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 158 shares during the last quarter. Allworth Financial LP lifted its position in Northern Trust by 94.1% during the fourth quarter. Allworth Financial LP now owns 359 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 174 shares during the period. Finally, Belpointe Asset Management LLC grew its position in Northern Trust by 84.5% in the 1st quarter. Belpointe Asset Management LLC now owns 393 shares of the asset manager’s stock worth $35,000 after purchasing an additional 180 shares during the period. Hedge funds and other 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.