JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Northern Trust (NASDAQ:NTRS) Stock

by · The Cerbat Gem

Northern Trust (NASDAQ:NTRS – Get Free Report) had its price target lifted by investment analysts at JPMorgan Chase & Co. from $153.50 to $170.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the asset manager’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 5.28% from the stock’s current price.

NTRS has been the topic of several other research reports. The Goldman Sachs Group lifted their price target on shares of Northern Trust from $151.00 to $169.00 and gave the company a “neutral” rating in a research report on Wednesday, April 22nd. Barclays lifted their price target on shares of Northern Trust from $160.00 to $176.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 22nd. BMO Capital Markets raised shares of Northern Trust from a “market perform” rating to an “outperform” rating and set a $168.00 price target on the stock in a research report on Monday, April 6th. Royal Bank Of Canada lifted their price target on shares of Northern Trust from $159.00 to $178.00 and gave the company an “outperform” rating in a research report on Wednesday, April 22nd. Finally, Zacks Research lowered shares of Northern Trust from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 10th. Four research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $164.08.

Read Our Latest Stock Report on Northern Trust

Northern Trust Price Performance

Northern Trust stock traded up $1.06 during midday trading on Monday, reaching $161.47. The company had a trading volume of 462,015 shares, compared to its average volume of 1,105,364. The company has a market capitalization of $29.88 billion, a P/E ratio of 16.91, a P/E/G ratio of 1.16 and a beta of 1.27. Northern Trust has a 12-month low of $103.54 and a 12-month high of $173.18. The firm’s fifty day simple moving average is $148.41 and its 200-day simple moving average is $141.76. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.62 and a quick ratio of 0.62.

Northern Trust (NASDAQ:NTRS – Get Free Report) last released its earnings results on Tuesday, April 21st. The asset manager reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.37 by $0.34. Northern Trust had a net margin of 12.84% and a return on equity of 15.94%. 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 posted $1.90 EPS. The business’s revenue was up 13.8% on a year-over-year basis. As a group, equities analysts anticipate that Northern Trust will post 10.63 EPS for the current year.

Insider Activity

In other news, insider Clive Bellows sold 2,800 shares of Northern Trust stock in a transaction on Friday, April 24th. The shares were sold at an average price of $165.02, for a total transaction of $462,056.00. Following the completion of the sale, the insider directly owned 28,217 shares of the company’s stock, valued at approximately $4,656,369.34. The trade was a 9.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert Edward Jr. Moritz purchased 225 shares of Northern Trust stock in a transaction that occurred on Friday, May 1st. The stock was bought at an average cost of $166.41 per share, with a total value of $37,442.25. Following the completion of the transaction, the director owned 8,145 shares of the company’s stock, valued at $1,355,409.45. The trade was a 2.84% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders sold a total of 32,705 shares of company stock valued at $5,211,464 in the last 90 days. Company insiders own 0.66% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in NTRS. Norges Bank acquired a new position in Northern Trust during the fourth quarter worth about $257,410,000. Eurizon Capital SGR S.p.A. acquired a new position in Northern Trust during the fourth quarter worth about $126,794,000. AQR Capital Management LLC grew its position in shares of Northern Trust by 69.0% in the fourth quarter. AQR Capital Management LLC now owns 1,723,516 shares of the asset manager’s stock valued at $235,415,000 after purchasing an additional 703,985 shares during the last quarter. Jupiter Asset Management Ltd. lifted its stake in shares of Northern Trust by 114.1% during the fourth quarter. Jupiter Asset Management Ltd. now owns 1,031,579 shares of the asset manager’s stock valued at $140,903,000 after buying an additional 549,681 shares during the period. Finally, PFA Pension Forsikringsaktieselskab acquired a new stake in shares of Northern Trust during the fourth quarter worth $67,126,000. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Northern Trust Company Profile

(Get Free Report)

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.

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