Northern Trust (NASDAQ:NTRS) Price Target Raised to $131.00 at Morgan Stanley

Northern Trust (NASDAQ:NTRS) had its price objective boosted by equities research analysts at Morgan Stanley from $127.00 to $131.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “underweight” rating on the asset manager’s stock. Morgan Stanley’s price objective would indicate a potential downside of 5.48% from the stock’s previous close.

A number of other research analysts have also recently commented on the stock. Citigroup upped their price target on shares of Northern Trust from $110.00 to $135.00 and gave the stock a “neutral” rating in a report on Friday, September 5th. Evercore ISI boosted their price target on Northern Trust from $125.00 to $135.00 and gave the company an “in-line” rating in a report on Tuesday, September 30th. Truist Financial decreased their target price on Northern Trust from $142.00 to $139.00 and set a “hold” rating for the company in a research report on Thursday, October 23rd. Zacks Research downgraded Northern Trust from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 9th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Northern Trust in a report on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $132.46.

Northern Trust Trading Up 0.2%

NASDAQ:NTRS traded up $0.32 during midday trading on Wednesday, hitting $138.59. 166,922 shares of the company traded hands, compared to its average volume of 1,405,169. The firm has a market capitalization of $26.21 billion, a P/E ratio of 16.17, a P/E/G ratio of 1.50 and a beta of 1.27. The firm’s fifty day moving average is $129.63 and its 200-day moving average is $126.84. Northern Trust has a 12-month low of $81.62 and a 12-month high of $140.75. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.58.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings results on Wednesday, October 22nd. The asset manager reported $2.29 EPS for the quarter, beating the consensus estimate of $2.26 by $0.03. Northern Trust had a net margin of 11.99% and a return on equity of 14.37%. The company 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 firm posted $2.22 EPS. The firm’s revenue was up 2.8% compared to the same quarter last year. On average, sell-side analysts predict that Northern Trust will post 8.27 EPS for the current year.

Insider Transactions at Northern Trust

In related news, insider John Landers sold 766 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $124.35, for a total transaction of $95,252.10. Following the completion of the transaction, the insider owned 7,313 shares in the company, valued at $909,371.55. The trade was a 9.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert Edward Jr. Moritz bought 3,891 shares of the stock in a transaction on Tuesday, November 4th. The stock was purchased at an average price of $128.57 per share, with a total value of $500,265.87. Following the completion of the purchase, the director owned 6,686 shares of the company’s stock, valued at $859,619.02. This represents a 139.21% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 0.77% of the company’s stock.

Institutional Investors Weigh In On Northern Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FNY Investment Advisers LLC acquired a new stake in Northern Trust during the 2nd quarter worth about $25,000. Triumph Capital Management purchased a new stake in shares of Northern Trust in the third quarter worth about $25,000. Hantz Financial Services Inc. grew its holdings in Northern Trust by 5,225.0% during the second quarter. Hantz Financial Services Inc. now owns 213 shares of the asset manager’s stock worth $27,000 after acquiring an additional 209 shares during the period. AlphaCore Capital LLC raised its position in Northern Trust by 87.4% during the second quarter. AlphaCore Capital LLC now owns 208 shares of the asset manager’s stock valued at $27,000 after acquiring an additional 97 shares in the last quarter. Finally, Clearstead Trust LLC acquired a new position in Northern Trust in the second quarter valued at approximately $29,000. 83.19% of the stock is currently owned by hedge funds and other institutional investors.

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.