Truist Financial Forecasts Strong Price Appreciation for Northern Trust (NASDAQ:NTRS) Stock

Northern Trust (NASDAQ:NTRS) had its price objective raised by analysts at Truist Financial from $110.00 to $116.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “hold” rating on the asset manager’s stock. Truist Financial’s price target would indicate a potential upside of 4.58% from the company’s current price.

Several other analysts have also recently issued reports on the stock. Wells Fargo & Company increased their price target on shares of Northern Trust from $108.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Friday, November 15th. Morgan Stanley dropped their price target on shares of 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. Keefe, Bruyette & Woods increased their price objective on Northern Trust from $113.00 to $122.00 and gave the company a “market perform” rating in a research note on Friday. Evercore ISI boosted their target price on Northern Trust from $86.00 to $103.00 and gave the stock an “in-line” rating in a research note on Thursday, October 24th. Finally, Bank of America upped their price target on Northern Trust from $103.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $110.75.

Northern Trust Stock Up 1.3 %

Shares of NASDAQ:NTRS opened at $110.92 on Friday. The company has a market capitalization of $21.99 billion, a price-to-earnings ratio of 13.80, a PEG ratio of 1.22 and a beta of 1.08. Northern Trust has a 12-month low of $76.67 and a 12-month high of $111.87. The business has a 50-day moving average price of $105.89 and a 200 day moving average price of $96.59. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings results on Thursday, January 23rd. The asset manager reported $2.26 earnings per share (EPS) for the quarter, beating 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%. Sell-side analysts expect that Northern Trust will post 7.56 EPS for the current year.

Insider Buying and Selling

In related news, COO Peter Cherecwich sold 16,153 shares of the firm’s stock in a transaction that occurred 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 owns 4,397 shares in the company, valued at $462,476.46. This trade represents a 78.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Thomas A. South sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $105.80, for a total value of $529,000.00. Following the completion of the sale, the executive vice president now owns 49,756 shares of the company’s stock, valued at approximately $5,264,184.80. This represents a 9.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,253 shares of company stock worth $3,238,073 in the last ninety days. 0.64% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of NTRS. FMR LLC lifted its holdings in shares of Northern Trust by 9.3% during the third quarter. FMR LLC now owns 18,187,663 shares of the asset manager’s stock worth $1,637,435,000 after purchasing an additional 1,542,685 shares during the period. KBC Group NV raised its position in Northern Trust by 201.6% during the 4th quarter. KBC Group NV now owns 963,811 shares of the asset manager’s stock worth $98,791,000 after buying an additional 644,261 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Northern Trust by 9.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,296,442 shares of the asset manager’s stock worth $386,809,000 after acquiring an additional 388,692 shares during the period. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Northern Trust by 62.8% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 678,461 shares of the asset manager’s stock valued at $69,542,000 after acquiring an additional 261,797 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of Northern Trust by 55.1% during the second quarter. AQR Capital Management LLC now owns 597,146 shares of the asset manager’s stock worth $49,575,000 after acquiring an additional 212,089 shares during the period. 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.