Deutsche Bank Aktiengesellschaft Boosts Northern Trust (NASDAQ:NTRS) Price Target to $94.00

Northern Trust (NASDAQ:NTRS) had its price target raised by analysts at Deutsche Bank Aktiengesellschaft from $84.00 to $94.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has a “hold” rating on the asset manager’s stock. Deutsche Bank Aktiengesellschaft’s price objective points to a potential upside of 2.13% from the company’s current price.

Several other research analysts have also recently issued reports on NTRS. Morgan Stanley lowered their target price on shares of Northern Trust from $97.00 to $93.00 and set an “underweight” rating for the company in a report on Tuesday, July 30th. The Goldman Sachs Group cut their target price on Northern Trust from $94.00 to $84.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 2nd. Keefe, Bruyette & Woods decreased their target price on Northern Trust from $92.00 to $85.00 and set a “market perform” rating for the company in a research report on Thursday, June 27th. Finally, Royal Bank of Canada lifted their price target on Northern Trust from $86.00 to $90.00 and gave the stock an “outperform” rating in a research report on Thursday, July 18th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Northern Trust has a consensus rating of “Hold” and an average price target of $89.58.

Northern Trust Stock Up 0.2 %

NASDAQ NTRS traded up $0.14 on Monday, hitting $92.04. 21,230 shares of the stock were exchanged, compared to its average volume of 1,314,973. The company has a market cap of $18.83 billion, a PE ratio of 20.46, a PEG ratio of 1.46 and a beta of 1.08. The company has a 50-day moving average price of $87.59 and a 200-day moving average price of $85.29. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. Northern Trust has a fifty-two week low of $62.44 and a fifty-two week high of $92.82.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings data on Wednesday, July 17th. The asset manager reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.75 by $0.03. The business had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $1.84 billion. Northern Trust had a return on equity of 12.24% and a net margin of 10.53%. The business’s revenue for the quarter was up 53.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.79 EPS. Sell-side analysts anticipate that Northern Trust will post 7.01 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Charles A. Tribbett sold 1,855 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $88.12, for a total value of $163,462.60. Following the completion of the sale, the director now owns 1,000 shares in the company, valued at $88,120. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Teresa Parker sold 5,883 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $84.06, for a total value of $494,524.98. Following the sale, the executive vice president now directly owns 83,765 shares in the company, valued at $7,041,285.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Charles A. Tribbett sold 1,855 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $88.12, for a total value of $163,462.60. Following the transaction, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $88,120. The disclosure for this sale can be found here. Insiders sold 13,738 shares of company stock valued at $1,191,388 over the last ninety days. Corporate insiders own 0.64% of the company’s stock.

Hedge Funds Weigh In On Northern Trust

Several institutional investors have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC acquired a new stake in shares of Northern Trust during the 2nd quarter worth $1,622,000. Quarry LP acquired a new stake in Northern Trust during the second quarter worth about $130,000. Creative Planning raised its holdings in shares of Northern Trust by 7.6% in the 2nd quarter. Creative Planning now owns 23,614 shares of the asset manager’s stock worth $1,983,000 after purchasing an additional 1,665 shares during the period. MBB Public Markets I LLC purchased a new stake in shares of Northern Trust during the 2nd quarter worth about $1,286,000. Finally, D. E. Shaw & Co. Inc. increased its position in Northern Trust by 5.4% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 510,425 shares of the asset manager’s stock worth $42,865,000 after purchasing an additional 26,083 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, 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.