TD Cowen Forecasts Strong Price Appreciation for Northern Trust (NASDAQ:NTRS) Stock

Northern Trust (NASDAQ:NTRS) had its target price raised by equities researchers at TD Cowen from $155.00 to $165.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the asset manager’s stock. TD Cowen’s target price indicates a potential upside of 14.30% from the stock’s current price.

A number of other research firms have also weighed in on NTRS. Keefe, Bruyette & Woods increased their target price on Northern Trust from $123.00 to $125.00 and gave the stock an “underperform” rating in a research note on Thursday, October 23rd. Barclays upped their price target on shares of Northern Trust from $136.00 to $160.00 and gave the stock an “equal weight” rating in a report on Monday. Evercore ISI raised their price target on shares of Northern Trust from $125.00 to $135.00 and gave the stock an “in-line” rating in a research note on Tuesday, September 30th. Citigroup boosted their price objective on shares of Northern Trust from $135.00 to $143.00 and gave the company a “neutral” rating in a research report on Tuesday, December 30th. Finally, Zacks Research downgraded shares of Northern Trust from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 9th. Five investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $136.00.

Northern Trust Stock Up 1.2%

Shares of NASDAQ NTRS opened at $144.36 on Wednesday. Northern Trust has a 1 year low of $81.62 and a 1 year high of $145.39. The firm has a 50-day simple moving average of $134.05 and a two-hundred day simple moving average of $130.29. The company has a market cap of $27.30 billion, a P/E ratio of 16.83, a PEG ratio of 1.40 and a beta of 1.27. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.70 and a quick ratio of 0.70.

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

Insider Activity at Northern Trust

In related news, Director Robert Edward Jr. Moritz purchased 3,891 shares of the business’s stock in a transaction dated Tuesday, November 4th. The shares were acquired at an average cost of $128.57 per share, for a total transaction of $500,265.87. Following the acquisition, the director owned 6,686 shares of the company’s stock, valued at $859,619.02. The trade was a 139.21% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Landers sold 766 shares of the business’s 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 completion of the transaction, the insider directly owned 7,313 shares of the company’s stock, valued at approximately $909,371.55. The trade was a 9.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.77% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Northern Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FNY Investment Advisers LLC purchased a new stake in shares of Northern Trust during the second quarter valued at about $25,000. Triumph Capital Management purchased a new stake in Northern Trust during the third quarter valued at approximately $25,000. Hantz Financial Services Inc. boosted its stake in Northern Trust by 5,225.0% in the second quarter. Hantz Financial Services Inc. now owns 213 shares of the asset manager’s stock valued at $27,000 after acquiring an additional 209 shares in the last quarter. AlphaCore Capital LLC grew its holdings in Northern Trust by 87.4% in the second quarter. AlphaCore Capital LLC now owns 208 shares of the asset manager’s stock worth $27,000 after purchasing an additional 97 shares during the last quarter. Finally, Board of the Pension Protection Fund acquired a new position in shares of Northern Trust during the fourth quarter worth $27,000. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Northern Trust Company Profile

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.