Keefe, Bruyette & Woods Increases Northern Trust (NASDAQ:NTRS) Price Target to $125.00

Northern Trust (NASDAQ:NTRS) had its price objective increased by investment analysts at Keefe, Bruyette & Woods from $123.00 to $125.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “underperform” rating on the asset manager’s stock. Keefe, Bruyette & Woods’ target price suggests a potential downside of 0.82% from the company’s current price.

Other equities research analysts also recently issued reports about the company. BMO Capital Markets began coverage on Northern Trust in a report on Friday, October 3rd. They issued a “market perform” rating and a $142.00 price objective for the company. TD Cowen lifted their price objective on Northern Trust from $152.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday. Truist Financial dropped their target price on Northern Trust from $142.00 to $139.00 and set a “hold” rating on the stock in a research report on Thursday. The Goldman Sachs Group set a $135.00 target price on Northern Trust in a research report on Tuesday, September 30th. Finally, Zacks Research cut Northern Trust from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 9th. Five research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $130.71.

Northern Trust Stock Performance

NASDAQ:NTRS opened at $126.03 on Thursday. The firm has a market cap of $24.10 billion, a PE ratio of 14.69, a price-to-earnings-growth ratio of 1.39 and a beta of 1.31. Northern Trust has a fifty-two week low of $81.62 and a fifty-two week high of $135.48. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.72 and a current ratio of 0.70. The business has a 50 day moving average price of $129.59 and a 200-day moving average price of $117.88.

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

Insider Buying and Selling at Northern Trust

In other news, Director Robert Edward Jr. Moritz bought 256 shares of the stock in a transaction on Wednesday, August 13th. The stock was acquired at an average cost of $126.34 per share, for a total transaction of $32,343.04. Following the acquisition, the director owned 2,525 shares of the company’s stock, valued at $319,008.50. This represents a 11.28% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.77% of the company’s stock.

Institutional Investors Weigh In On Northern Trust

Hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC increased its holdings in shares of Northern Trust by 5.8% in the first quarter. GAMMA Investing LLC now owns 4,517 shares of the asset manager’s stock valued at $446,000 after purchasing an additional 249 shares during the period. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Northern Trust by 9.1% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 16,317 shares of the asset manager’s stock valued at $1,610,000 after purchasing an additional 1,358 shares during the period. Continuum Advisory LLC increased its holdings in shares of Northern Trust by 5,340.0% in the first quarter. Continuum Advisory LLC now owns 272 shares of the asset manager’s stock valued at $27,000 after purchasing an additional 267 shares during the period. Oppenheimer & Co. Inc. increased its holdings in shares of Northern Trust by 9.4% in the first quarter. Oppenheimer & Co. Inc. now owns 4,443 shares of the asset manager’s stock valued at $438,000 after purchasing an additional 380 shares during the period. Finally, Asset Management One Co. Ltd. grew its holdings in Northern Trust by 8.4% during the first quarter. Asset Management One Co. Ltd. now owns 84,974 shares of the asset manager’s stock worth $8,383,000 after acquiring an additional 6,570 shares during the period. 83.19% of the stock is currently owned by hedge funds and other institutional investors.

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.