Northern Trust (NASDAQ:NTRS) Price Target Raised to $101.00 at Bank of America

Northern Trust (NASDAQ:NTRS) had its target price boosted by analysts at Bank of America from $93.00 to $101.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the asset manager’s stock. Bank of America‘s target price indicates a potential upside of 23.85% from the company’s current price.

Other research analysts have also issued reports about the stock. Barclays raised their target price on shares of Northern Trust from $90.00 to $98.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 2nd. TheStreet raised Northern Trust from a “c+” rating to a “b-” rating in a research note on Friday, January 12th. Wolfe Research lowered Northern Trust from a “peer perform” rating to an “underperform” rating and set a $85.00 price target on the stock. in a report on Wednesday, January 3rd. UBS Group raised their price objective on shares of Northern Trust from $72.00 to $84.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 9th. Finally, Evercore ISI increased their price target on shares of Northern Trust from $86.00 to $87.00 and gave the company an “in-line” rating in a research note on Thursday, April 4th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $84.58.

Northern Trust Price Performance

NASDAQ NTRS traded up $1.99 on Wednesday, hitting $81.55. The company had a trading volume of 826,127 shares, compared to its average volume of 1,503,796. The company’s fifty day moving average price is $83.12 and its 200-day moving average price is $78.80. Northern Trust has a 12-month low of $62.44 and a 12-month high of $89.25. The company has a market capitalization of $16.64 billion, a PE ratio of 16.05, a PEG ratio of 1.73 and a beta of 1.13. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.71 and a quick ratio of 0.71.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings data on Thursday, January 18th. The asset manager reported $0.52 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.81). Northern Trust had a net margin of 9.14% and a return on equity of 12.44%. The firm had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same period in the prior year, the company posted $1.65 earnings per share. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, analysts predict that Northern Trust will post 6.57 earnings per share for the current year.

Insider Buying and Selling at Northern Trust

In other news, insider Steven L. Fradkin sold 30,392 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $80.11, for a total value of $2,434,703.12. Following the transaction, the insider now owns 55,707 shares in the company, valued at approximately $4,462,687.77. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.64% of the stock is owned by insiders.

Institutional Trading of Northern Trust

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Northern Trust by 2.1% in the first quarter. Vanguard Group Inc. now owns 22,711,584 shares of the asset manager’s stock valued at $2,644,763,000 after buying an additional 457,748 shares during the last quarter. FMR LLC raised its position in Northern Trust by 1.2% in the 3rd quarter. FMR LLC now owns 10,791,735 shares of the asset manager’s stock valued at $749,810,000 after purchasing an additional 126,172 shares during the last quarter. Primecap Management Co. CA boosted its stake in Northern Trust by 6.1% during the 4th quarter. Primecap Management Co. CA now owns 6,891,902 shares of the asset manager’s stock worth $581,539,000 after purchasing an additional 394,855 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Northern Trust by 31.2% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 6,533,855 shares of the asset manager’s stock valued at $551,327,000 after purchasing an additional 1,553,783 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Northern Trust by 31.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 6,080,885 shares of the asset manager’s stock valued at $513,105,000 after buying an additional 1,468,262 shares during the last quarter. 83.19% of the stock is owned by institutional investors and hedge funds.

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.