Northern Trust (NASDAQ:NTRS) Price Target Raised to $165.00 at TD Cowen

by · The Markets Daily

Northern Trust (NASDAQ:NTRS – Get Free Report) had its target price hoisted by equities researchers at TD Cowen from $155.00 to $165.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the asset manager’s stock. TD Cowen’s price target suggests a potential upside of 15.37% from the company’s current price.

A number of other equities research analysts have also recently commented on the stock. Evercore ISI lifted their price target on shares of Northern Trust from $125.00 to $135.00 and gave the stock an “in-line” rating in a report on Tuesday, September 30th. Morgan Stanley upped their price target on Northern Trust from $127.00 to $131.00 and gave the company an “underweight” rating in a research report on Wednesday, December 17th. Wall Street Zen raised Northern Trust from a “sell” rating to a “hold” rating in a report on Saturday, December 27th. Wells Fargo & Company upped their price objective on shares of Northern Trust from $127.00 to $131.00 and gave the company an “equal weight” rating in a report on Thursday, October 23rd. Finally, Keefe, Bruyette & Woods increased their target price on shares of Northern Trust from $123.00 to $125.00 and gave the stock an “underperform” rating in a research report on Thursday, October 23rd. Five analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Northern Trust has a consensus rating of “Hold” and a consensus price target of $136.00.

View Our Latest Report on NTRS

Northern Trust Stock Performance

Shares of Northern Trust stock traded down $1.11 during trading hours on Wednesday, hitting $143.02. 262,839 shares of the company’s stock traded hands, compared to its average volume of 730,511. The stock has a market capitalization of $27.05 billion, a price-to-earnings ratio of 16.67, a PEG ratio of 1.42 and a beta of 1.27. Northern Trust has a 12-month low of $81.62 and a 12-month high of $144.90. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.70 and a quick ratio of 0.70. The company has a fifty day simple moving average of $133.40 and a 200-day simple moving average of $130.11.

Northern Trust (NASDAQ:NTRS – Get Free Report) last posted its quarterly earnings results on Wednesday, October 22nd. The asset manager reported $2.29 earnings per share for the quarter, beating the consensus estimate of $2.26 by $0.03. Northern Trust had a net margin of 11.99% and a return on equity of 14.37%. The company had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.02 billion. During the same quarter in the prior year, the business earned $2.22 earnings per share. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. Equities research analysts anticipate that Northern Trust will post 8.27 EPS for the current fiscal year.

Insider Buying and Selling at Northern Trust

In related news, insider John Landers sold 766 shares of the stock in a transaction on Monday, November 17th. The stock was sold at an average price of $124.35, for a total value of $95,252.10. Following the sale, the insider owned 7,313 shares in the company, valued at approximately $909,371.55. This trade represents a 9.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Robert Edward Jr. Moritz acquired 3,891 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The shares were acquired at an average cost of $128.57 per share, with a total value of $500,265.87. Following the purchase, the director directly owned 6,686 shares of the company’s stock, valued at $859,619.02. This trade represents a 139.21% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 0.77% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NTRS. Norges Bank bought a new position in Northern Trust in the second quarter valued at $276,087,000. Primecap Management Co. CA boosted its holdings in shares of Northern Trust by 19.5% in the 2nd quarter. Primecap Management Co. CA now owns 7,793,757 shares of the asset manager’s stock worth $988,170,000 after purchasing an additional 1,270,748 shares in the last quarter. Marshall Wace LLP increased its position in shares of Northern Trust by 2,397.3% during the 2nd quarter. Marshall Wace LLP now owns 657,026 shares of the asset manager’s stock valued at $83,304,000 after purchasing an additional 630,717 shares during the last quarter. Rokos Capital Management LLP purchased a new position in shares of Northern Trust during the 2nd quarter valued at about $73,888,000. Finally, LSV Asset Management lifted its position in Northern Trust by 154.0% in the 2nd quarter. LSV Asset Management now owns 805,990 shares of the asset manager’s stock worth $102,191,000 after buying an additional 488,690 shares during the last quarter. 83.19% of the stock is currently owned by institutional investors.

About Northern Trust

(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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