Truist Financial Issues Positive Forecast for Northern Trust (NASDAQ:NTRS) Stock Price

Northern Trust (NASDAQ:NTRS) had its target price upped by investment analysts at Truist Financial from $110.00 to $116.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a “hold” rating on the asset manager’s stock. Truist Financial’s target price indicates a potential upside of 4.58% from the company’s current price.

NTRS has been the subject of several other reports. Morgan Stanley dropped their price objective on Northern Trust from $127.00 to $125.00 and set an “equal weight” rating for the company in a research note on Friday, January 3rd. StockNews.com cut Northern Trust from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Keefe, Bruyette & Woods boosted their price objective on shares of Northern Trust from $113.00 to $122.00 and gave the stock a “market perform” rating in a research report on Friday. Royal Bank of Canada raised their target price on shares of Northern Trust from $100.00 to $107.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, Evercore ISI upped their price target on shares of Northern Trust from $86.00 to $103.00 and gave the company an “in-line” rating in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $110.75.

Northern Trust Price Performance

Shares of NASDAQ NTRS opened at $110.92 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. Northern Trust has a one year low of $76.67 and a one year high of $111.87. The firm has a market capitalization of $21.99 billion, a P/E ratio of 13.80, a PEG ratio of 1.22 and a beta of 1.08. The company’s fifty day moving average is $105.89 and its two-hundred day moving average is $96.59.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings data on Thursday, January 23rd. The asset manager reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.30. Northern Trust had a net margin of 10.92% and a return on equity of 12.75%. Analysts forecast that Northern Trust will post 7.56 EPS for the current fiscal year.

Insider Transactions at Northern Trust

In related news, COO Peter Cherecwich sold 16,153 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $105.18, for a total transaction of $1,698,972.54. Following the transaction, the chief operating officer now directly owns 4,397 shares in the company, valued at $462,476.46. This trade represents a 78.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Thomas A. South sold 5,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $105.80, for a total transaction of $529,000.00. Following the completion of the transaction, the executive vice president now owns 49,756 shares in the company, valued at approximately $5,264,184.80. The trade was a 9.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,253 shares of company stock valued at $3,238,073. 0.64% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Northern Trust

Several large investors have recently added to or reduced their stakes in NTRS. Boston Trust Walden Corp grew its holdings in Northern Trust by 1.6% in the 4th quarter. Boston Trust Walden Corp now owns 928,854 shares of the asset manager’s stock worth $95,208,000 after buying an additional 14,362 shares in the last quarter. Chicago Capital LLC boosted its position in Northern Trust by 2.8% during the 4th quarter. Chicago Capital LLC now owns 13,617 shares of the asset manager’s stock worth $1,396,000 after acquiring an additional 365 shares during the period. Greenleaf Trust grew its stake in shares of Northern Trust by 9.2% in the fourth quarter. Greenleaf Trust now owns 13,963 shares of the asset manager’s stock worth $1,431,000 after purchasing an additional 1,177 shares in the last quarter. Independence Bank of Kentucky increased its holdings in shares of Northern Trust by 453.3% during the fourth quarter. Independence Bank of Kentucky now owns 2,075 shares of the asset manager’s stock valued at $213,000 after purchasing an additional 1,700 shares during the period. Finally, Chicago Partners Investment Group LLC lifted its holdings in Northern Trust by 17.7% in the fourth quarter. Chicago Partners Investment Group LLC now owns 2,311 shares of the asset manager’s stock worth $236,000 after purchasing an additional 348 shares during the period. 83.19% of the stock is owned by institutional investors and hedge funds.

Northern Trust Company Profile

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.