Northern Trust (NASDAQ:NTRS) Given New $200.00 Price Target at Bank of America

Northern Trust (NASDAQ:NTRS) had its price target hoisted by analysts at Bank of America from $190.00 to $200.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the asset manager’s stock. Bank of America‘s price target points to a potential upside of 10.41% from the company’s previous close.

A number of other equities analysts have also recently weighed in on NTRS. Truist Financial increased their price target on Northern Trust from $176.00 to $186.00 and gave the stock a “hold” rating in a report on Friday, June 26th. Citigroup upped their target price on shares of Northern Trust from $162.00 to $172.00 and gave the company a “neutral” rating in a research report on Tuesday, June 30th. Morgan Stanley increased their target price on shares of Northern Trust from $157.00 to $170.00 and gave the stock an “underweight” rating in a research note on Monday, June 29th. Evercore set a $179.00 price target on shares of Northern Trust in a research report on Monday. Finally, Weiss Ratings raised shares of Northern Trust from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $175.18.

Northern Trust Price Performance

Northern Trust stock opened at $181.14 on Tuesday. Northern Trust has a 12-month low of $118.99 and a 12-month high of $181.21. The stock has a market cap of $33.52 billion, a P/E ratio of 18.97, a PEG ratio of 1.20 and a beta of 1.25. The company has a 50-day moving average price of $168.93 and a 200 day moving average price of $153.33. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.51.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings data on Tuesday, April 21st. The asset manager reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.37 by $0.34. The firm had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.13 billion. Northern Trust had a return on equity of 15.94% and a net margin of 12.84%.The firm’s quarterly revenue was up 13.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.90 earnings per share. Sell-side analysts anticipate that Northern Trust will post 11.21 earnings per share for the current year.

Insider Transactions at Northern Trust

In related news, insider Clive Bellows sold 2,800 shares of the company’s stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $165.02, for a total value of $462,056.00. Following the completion of the transaction, the insider directly owned 28,217 shares of the company’s stock, valued at $4,656,369.34. This represents a 9.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO David W. Fox, Jr. sold 19,987 shares of the stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $166.16, for a total transaction of $3,321,039.92. Following the completion of the transaction, the chief financial officer owned 18,588 shares in the company, valued at $3,088,582.08. This represents a 51.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 22,800 shares of company stock valued at $3,785,251. 0.66% of the stock is currently owned by corporate insiders.

Institutional Trading of Northern Trust

A number of large investors have recently made changes to their positions in the company. Triumph Capital Management purchased a new position in Northern Trust during the 3rd quarter worth approximately $25,000. Reflection Asset Management purchased a new position in shares of Northern Trust during the fourth quarter worth approximately $25,000. Board of the Pension Protection Fund purchased a new position in shares of Northern Trust during the fourth quarter worth approximately $27,000. Basecamp Wealth Advisors LLC increased its holdings in shares of Northern Trust by 99.0% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 203 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 101 shares during the period. Finally, Elyxium Wealth LLC purchased a new stake in Northern Trust in the 4th quarter valued at $34,000. 83.19% of the stock is owned by institutional investors and hedge funds.

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.