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

Northern Trust (NASDAQ:NTRS) had its target price cut by analysts at Truist Financial from $116.00 to $98.00 in a report released on Friday,Benzinga reports. The firm currently has a “hold” rating on the asset manager’s stock. Truist Financial’s price target would suggest a potential upside of 13.94% from the company’s current price.

Several other analysts have also recently weighed in on NTRS. StockNews.com cut shares of Northern Trust from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Evercore ISI reduced their price objective on Northern Trust from $113.00 to $104.00 and set an “in-line” rating on the stock in a research note on Tuesday, April 1st. Wells Fargo & Company lowered their price target on shares of Northern Trust from $119.00 to $118.00 and set an “equal weight” rating for the company in a report on Friday, March 28th. Keefe, Bruyette & Woods increased their price target on shares of Northern Trust from $113.00 to $122.00 and gave the company a “market perform” rating in a research report on Friday, January 24th. Finally, Bank of America decreased their price objective on shares of Northern Trust from $123.00 to $121.00 and set a “buy” rating on the stock in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $112.31.

Northern Trust Price Performance

NASDAQ:NTRS opened at $86.01 on Friday. The firm has a market capitalization of $16.83 billion, a price-to-earnings ratio of 8.79, a P/E/G ratio of 1.72 and a beta of 1.10. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.68. The stock has a fifty day moving average of $105.63 and a 200 day moving average of $103.08. Northern Trust has a 52-week low of $79.32 and a 52-week high of $114.67.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings data on Thursday, January 23rd. The asset manager reported $2.26 EPS for the quarter, topping the consensus estimate of $1.96 by $0.30. Northern Trust had a return on equity of 13.74% and a net margin of 12.77%. On average, research analysts expect that Northern Trust will post 8.27 EPS for the current fiscal year.

Insider Activity

In related news, insider Jason J. Tyler sold 2,237 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $112.67, for a total transaction of $252,042.79. Following the completion of the transaction, the insider now owns 58,449 shares of the company’s stock, valued at $6,585,448.83. This trade represents a 3.69 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Thomas A. South sold 3,804 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $113.00, for a total value of $429,852.00. Following the completion of the sale, the executive vice president now directly owns 81,794 shares in the company, valued at $9,242,722. This trade represents a 4.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,335 shares of company stock worth $3,970,211. Corporate insiders own 0.77% of the company’s stock.

Institutional Investors Weigh In On Northern Trust

A number of institutional investors have recently made changes to their positions in the company. Y.D. More Investments Ltd lifted its position in Northern Trust by 118.4% in the 4th quarter. Y.D. More Investments Ltd now owns 249 shares of the asset manager’s stock valued at $26,000 after acquiring an additional 135 shares in the last quarter. Colonial Trust Co SC lifted its holdings in shares of Northern Trust by 6,400.0% during the fourth quarter. Colonial Trust Co SC now owns 260 shares of the asset manager’s stock valued at $27,000 after purchasing an additional 256 shares in the last quarter. Empirical Asset Management LLC purchased a new stake in shares of Northern Trust during the fourth quarter valued at $33,000. Brooklyn Investment Group increased its holdings in Northern Trust by 51.2% in the 4th quarter. Brooklyn Investment Group now owns 378 shares of the asset manager’s stock worth $39,000 after buying an additional 128 shares in the last quarter. Finally, Assetmark Inc. raised its position in Northern Trust by 528.3% in the 4th quarter. Assetmark Inc. now owns 377 shares of the asset manager’s stock worth $39,000 after buying an additional 317 shares during the last quarter. Hedge funds and other institutional investors own 83.19% of the company’s stock.

About Northern Trust

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.