Keefe, Bruyette & Woods Issues Positive Forecast for Northern Trust (NASDAQ:NTRS) Stock Price

Northern Trust (NASDAQ:NTRS) had its price target upped by investment analysts at Keefe, Bruyette & Woods from $157.00 to $175.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “underperform” rating on the asset manager’s stock. Keefe, Bruyette & Woods’ price objective points to a potential downside of 4.99% from the stock’s current price.

Several other equities analysts have also weighed in on NTRS. Morgan Stanley increased their target price on Northern Trust from $157.00 to $170.00 and gave the company an “underweight” rating in a research note on Monday, June 29th. BMO Capital Markets upgraded Northern Trust from a “market perform” rating to an “outperform” rating and set a $168.00 target price for the company in a research report on Monday, April 6th. Truist Financial upped their price target on Northern Trust from $176.00 to $186.00 and gave the company a “hold” rating in a research note on Friday, June 26th. Evercore set a $179.00 price objective on shares of Northern Trust in a research note on Monday. Finally, Bank of America boosted their price objective on shares of Northern Trust from $190.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $178.75.

Northern Trust Trading Up 2.4%

Shares of Northern Trust stock traded up $4.27 on Thursday, hitting $184.19. 389,940 shares of the company’s stock traded hands, compared to its average volume of 1,092,730. The firm’s 50-day moving average price is $169.83 and its two-hundred day moving average price is $154.24. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.62 and a quick ratio of 0.62. The stock has a market capitalization of $34.08 billion, a PE ratio of 19.30, a price-to-earnings-growth ratio of 1.23 and a beta of 1.25. Northern Trust has a one year low of $118.99 and a one year high of $185.57.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings results on Tuesday, April 21st. The asset manager reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.37 by $0.34. Northern Trust had a return on equity of 15.94% and a net margin of 12.84%.The business had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same period last year, the company earned $1.90 EPS. The firm’s revenue was up 13.8% on a year-over-year basis. On average, research analysts expect that Northern Trust will post 11.29 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Clive Bellows sold 2,800 shares of Northern Trust stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $165.02, for a total transaction of $462,056.00. Following the transaction, the insider owned 28,217 shares in the company, valued at $4,656,369.34. The trade was a 9.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert Edward Jr. Moritz acquired 225 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The stock was acquired at an average price of $166.41 per share, with a total value of $37,442.25. Following the completion of the transaction, the director directly owned 8,145 shares in the company, valued at $1,355,409.45. This trade represents a 2.84% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold 22,800 shares of company stock worth $3,785,251 over the last ninety days. 0.66% of the stock is currently owned by corporate insiders.

Institutional Trading of Northern Trust

Several hedge funds have recently bought and sold shares of NTRS. CWM LLC boosted its stake in Northern Trust by 122.6% in the 4th quarter. CWM LLC now owns 48,284 shares of the asset manager’s stock worth $6,595,000 after purchasing an additional 26,594 shares during the period. iSAM Funds UK Ltd acquired a new stake in shares of Northern Trust in the 3rd quarter valued at about $2,253,000. Cinctive Capital Management LP raised its stake in shares of Northern Trust by 113.7% in the 3rd quarter. Cinctive Capital Management LP now owns 28,939 shares of the asset manager’s stock valued at $3,895,000 after purchasing an additional 15,398 shares during the period. Concurrent Investment Advisors LLC bought a new stake in shares of Northern Trust in the fourth quarter valued at about $1,959,000. Finally, Swiss Life Asset Management Ltd lifted its holdings in shares of Northern Trust by 119.9% in the third quarter. Swiss Life Asset Management Ltd now owns 83,175 shares of the asset manager’s stock valued at $11,195,000 after purchasing an additional 45,356 shares in the last quarter. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Northern Trust Company Profile

Northern Trust Corporation (NASDAQ: NTRS) is a global financial services firm headquartered in Chicago that provides asset servicing, asset management and wealth management solutions to institutions, corporations and high-net-worth individuals. The company’s core businesses include custody and fund administration, investment operations outsourcing, trust and fiduciary services, private banking, and retirement and defined contribution plan services.

Northern Trust’s product and service offerings span custody and fund accounting, portfolio and performance analytics, securities lending, cash management and foreign exchange, as well as discretionary and non-discretionary investment management.