Truist Financial Lowers Northern Trust (NASDAQ:NTRS) Price Target to $155.00

Northern Trust (NASDAQ:NTRS) had its price objective lowered by analysts at Truist Financial from $160.00 to $155.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “hold” rating on the asset manager’s stock. Truist Financial’s price target would indicate a potential upside of 8.96% from the company’s previous close.

A number of other analysts have also commented on the company. Wall Street Zen raised Northern Trust from a “sell” rating to a “hold” rating in a research note on Saturday, December 27th. Evercore upped their price objective on shares of Northern Trust from $142.00 to $155.00 and gave the stock an “in-line” rating in a report on Friday, January 23rd. Royal Bank Of Canada raised their target price on shares of Northern Trust from $139.00 to $159.00 and gave the stock an “outperform” rating in a research report on Friday, January 23rd. The Goldman Sachs Group lifted their target price on shares of Northern Trust from $130.00 to $148.00 and gave the company a “sell” rating in a research note on Wednesday, January 28th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Northern Trust in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $151.91.

Northern Trust Trading Up 0.6%

NTRS opened at $142.25 on Wednesday. The business has a 50 day simple moving average of $143.52 and a two-hundred day simple moving average of $137.09. The firm has a market capitalization of $26.36 billion, a price-to-earnings ratio of 16.28, a PEG ratio of 1.11 and a beta of 1.23. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.69 and a quick ratio of 0.69. Northern Trust has a one year low of $81.62 and a one year high of $157.60.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings data on Friday, January 30th. The asset manager reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $2.37 by $0.05. Northern Trust had a return on equity of 14.87% and a net margin of 12.15%.The firm had revenue of $3.15 billion for the quarter. During the same quarter in the prior year, the business posted $2.26 earnings per share. Northern Trust’s quarterly revenue was up 8.4% compared to the same quarter last year. Analysts predict that Northern Trust will post 8.27 EPS for the current year.

Insider Transactions at Northern Trust

In other news, Director Richard Petrino bought 1,000 shares of the company’s stock in a transaction dated Thursday, February 5th. The shares were purchased at an average price of $148.91 per share, for a total transaction of $148,910.00. Following the completion of the purchase, the director owned 3,332 shares in the company, valued at approximately $496,168.12. This represents a 42.88% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Guy Gibson sold 3,009 shares of the stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $142.39, for a total transaction of $428,451.51. Following the sale, the insider owned 29,332 shares in the company, valued at approximately $4,176,583.48. The trade was a 9.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 34,905 shares of company stock worth $5,166,714 over the last quarter. Corporate insiders own 0.66% of the company’s stock.

Hedge Funds Weigh In On Northern Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of Northern Trust in the 4th quarter worth $257,410,000. Eurizon Capital SGR S.p.A. bought a new position in shares of Northern Trust during the fourth quarter valued at $126,794,000. AQR Capital Management LLC boosted its position in shares of Northern Trust by 69.0% during the fourth quarter. AQR Capital Management LLC now owns 1,723,516 shares of the asset manager’s stock valued at $235,415,000 after buying an additional 703,985 shares during the last quarter. Marshall Wace LLP increased its holdings in Northern Trust by 2,397.3% in the 2nd quarter. Marshall Wace LLP now owns 657,026 shares of the asset manager’s stock worth $83,304,000 after buying an additional 630,717 shares in the last quarter. Finally, Rokos Capital Management LLP bought a new stake in Northern Trust in the 2nd quarter worth about $73,888,000. 83.19% of the stock is owned by institutional investors.

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.