Jefferies Financial Group Boosts Northern Trust (NASDAQ:NTRS) Price Target to $103.00

Northern Trust (NASDAQ:NTRS) had its price objective boosted by equities research analysts at Jefferies Financial Group from $101.00 to $103.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the asset manager’s stock. Jefferies Financial Group’s price objective would suggest a potential upside of 25.61% from the stock’s previous close.

Several other equities analysts have also recently commented on NTRS. 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 research note on Friday, January 19th. Morgan Stanley restated an “underweight” rating and issued a $86.00 price objective (up previously from $82.00) on shares of Northern Trust in a research note on Tuesday, January 30th. Wolfe Research cut shares of Northern Trust from a “peer perform” rating to an “underperform” rating and set a $85.00 price objective for the company. in a research note on Wednesday, January 3rd. TheStreet upgraded shares of Northern Trust from a “c+” rating to a “b-” rating in a research note on Friday, January 12th. Finally, Bank of America increased their price objective on shares of Northern Trust from $93.00 to $101.00 and gave the company a “buy” rating in a research note on Wednesday. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Northern Trust has a consensus rating of “Hold” and a consensus price target of $84.92.

Northern Trust Trading Up 0.9 %

Shares of Northern Trust stock traded up $0.77 during trading on Thursday, hitting $82.00. The stock had a trading volume of 226,869 shares, compared to its average volume of 1,496,019. The stock has a 50 day simple moving average of $83.17 and a 200 day simple moving average of $78.82. The company has a market capitalization of $16.73 billion, a PE ratio of 18.02, a P/E/G ratio of 1.64 and a beta of 1.13. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.61. Northern Trust has a 1 year low of $62.44 and a 1 year high of $89.25.

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 12.57% and a net margin of 7.59%. The business had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the prior year, the firm earned $1.65 earnings per share. The business’s revenue was up 1.9% on a year-over-year basis. On average, research analysts expect that Northern Trust will post 6.57 EPS for the current fiscal year.

Insider Transactions at Northern Trust

In other news, insider Steven L. Fradkin sold 30,392 shares of the stock in a transaction dated 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 completion of the transaction, the insider now directly owns 55,707 shares in the company, valued at approximately $4,462,687.77. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.64% of the company’s stock.

Institutional Investors Weigh In On Northern Trust

Several hedge funds have recently bought and sold shares of NTRS. Atria Wealth Solutions Inc. increased its holdings in shares of Northern Trust by 3.7% during the fourth quarter. Atria Wealth Solutions Inc. now owns 3,425 shares of the asset manager’s stock worth $306,000 after purchasing an additional 123 shares during the period. Ballast Inc. increased its stake in Northern Trust by 1.1% in the fourth quarter. Ballast Inc. now owns 12,208 shares of the asset manager’s stock valued at $1,030,000 after acquiring an additional 136 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its stake in Northern Trust by 2.5% in the second quarter. Mercer Global Advisors Inc. ADV now owns 5,768 shares of the asset manager’s stock valued at $428,000 after acquiring an additional 140 shares during the last quarter. Vontobel Holding Ltd. increased its stake in Northern Trust by 2.4% in the first quarter. Vontobel Holding Ltd. now owns 5,921 shares of the asset manager’s stock valued at $715,000 after acquiring an additional 140 shares during the last quarter. Finally, Mather Group LLC. increased its stake in Northern Trust by 3.6% in the fourth quarter. Mather Group LLC. now owns 4,271 shares of the asset manager’s stock valued at $360,000 after acquiring an additional 147 shares during the last quarter. 83.19% of the stock is currently owned by institutional investors and hedge funds.

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.