Northern Trust (NASDAQ:NTRS) Price Target Raised to $94.00

Northern Trust (NASDAQ:NTRS) had its target price raised by investment analysts at Deutsche Bank Aktiengesellschaft from $84.00 to $94.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has a “hold” rating on the asset manager’s stock. Deutsche Bank Aktiengesellschaft’s target price suggests a potential upside of 2.13% from the company’s previous close.

NTRS has been the topic of several other reports. The Goldman Sachs Group dropped their price target on Northern Trust from $94.00 to $84.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 2nd. Royal Bank of Canada increased their target price on shares of Northern Trust from $86.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. Keefe, Bruyette & Woods lowered their price objective on shares of Northern Trust from $92.00 to $85.00 and set a “market perform” rating for the company in a research report on Thursday, June 27th. Finally, Morgan Stanley dropped their price objective on shares of Northern Trust from $97.00 to $93.00 and set an “underweight” rating on the stock in a research note on Tuesday, July 30th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $89.58.

Northern Trust Stock Up 0.2 %

Northern Trust stock traded up $0.14 during midday trading on Monday, hitting $92.04. 21,230 shares of the stock were exchanged, compared to its average volume of 1,314,973. Northern Trust has a 1 year low of $62.44 and a 1 year high of $92.82. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71. The firm has a market cap of $18.83 billion, a P/E ratio of 20.46, a P/E/G ratio of 1.46 and a beta of 1.08. The company has a 50 day moving average price of $87.59 and a two-hundred day moving average price of $85.29.

Northern Trust (NASDAQ:NTRS) last released its earnings results on Wednesday, July 17th. The asset manager reported $1.78 EPS for the quarter, beating the consensus estimate of $1.75 by $0.03. The company had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $1.84 billion. Northern Trust had a return on equity of 12.24% and a net margin of 10.53%. The business’s revenue was up 53.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.79 EPS. On average, sell-side analysts predict that Northern Trust will post 7.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Northern Trust news, EVP Teresa Parker sold 5,883 shares of Northern Trust stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $84.06, for a total value of $494,524.98. Following the completion of the sale, the executive vice president now directly owns 83,765 shares in the company, valued at $7,041,285.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Teresa Parker sold 5,883 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $84.06, for a total value of $494,524.98. Following the completion of the sale, the executive vice president now directly owns 83,765 shares in the company, valued at $7,041,285.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles A. Tribbett sold 1,855 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $88.12, for a total value of $163,462.60. Following the completion of the sale, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $88,120. The disclosure for this sale can be found here. Insiders have sold a total of 13,738 shares of company stock valued at $1,191,388 in the last three months. Insiders own 0.64% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. UBS Group AG increased its stake in shares of Northern Trust by 123.7% in the fourth quarter. UBS Group AG now owns 300,042 shares of the asset manager’s stock worth $25,318,000 after purchasing an additional 165,923 shares during the period. Trexquant Investment LP acquired a new position in shares of Northern Trust during the fourth quarter worth approximately $1,559,000. Quest Partners LLC acquired a new stake in shares of Northern Trust in the fourth quarter worth $61,000. US Bancorp DE boosted its holdings in Northern Trust by 1.8% in the 4th quarter. US Bancorp DE now owns 27,976 shares of the asset manager’s stock valued at $2,361,000 after purchasing an additional 500 shares during the period. Finally, Parallel Advisors LLC increased its holdings in shares of Northern Trust by 18.4% during the 4th quarter. Parallel Advisors LLC now owns 1,317 shares of the asset manager’s stock worth $111,000 after purchasing an additional 205 shares during the period. Institutional investors and hedge funds own 83.19% of the company’s stock.

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.