Northern Trust (NASDAQ:NTRS – Get Free Report) had its price target increased by analysts at Truist Financial from $176.00 to $186.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “hold” rating on the asset manager’s stock. Truist Financial’s price target would suggest a potential upside of 7.19% from the stock’s current price.
Several other equities analysts also recently weighed in on NTRS. BMO Capital Markets upgraded shares of Northern Trust from a “market perform” rating to an “outperform” rating and set a $168.00 price target on the stock in a report on Monday, April 6th. Barclays upped their price objective on shares of Northern Trust from $160.00 to $176.00 and gave the company an “equal weight” rating in a report on Wednesday, April 22nd. UBS Group set a $186.00 target price on shares of Northern Trust in a report on Friday. JPMorgan Chase & Co. upped their price target on shares of Northern Trust from $153.50 to $170.00 and gave the company a “neutral” rating in a report on Monday, May 11th. Finally, Royal Bank Of Canada lifted their price objective on Northern Trust from $159.00 to $178.00 and gave the company an “outperform” rating in a research note on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Northern Trust presently has an average rating of “Hold” and an average target price of $167.62.
Check Out Our Latest Analysis on Northern Trust
Northern Trust Stock Performance
Northern Trust (NASDAQ:NTRS – Get Free Report) last announced its quarterly earnings data on Tuesday, April 21st. The asset manager reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.37 by $0.34. Northern Trust had a return on equity of 15.94% and a net margin of 12.84%.The business had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same period in the prior year, the company earned $1.90 earnings per share. The company’s revenue was up 13.8% on a year-over-year basis. As a group, equities research analysts anticipate that Northern Trust will post 10.68 EPS for the current year.
Insider Activity at Northern Trust
In other news, insider Clive Bellows sold 2,800 shares of the business’s stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $165.02, for a total transaction 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. The trade was a 9.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David W. Fox, Jr. sold 19,987 shares of Northern Trust stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $166.16, for a total transaction of $3,321,039.92. Following the completion of the sale, the chief financial officer directly owned 18,588 shares of the company’s stock, valued at approximately $3,088,582.08. This trade represents a 51.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 22,800 shares of company stock valued at $3,785,251 in the last 90 days. Corporate insiders own 0.66% of the company’s stock.
Hedge Funds Weigh In On Northern Trust
Institutional investors and hedge funds have recently made changes to their positions in the business. Norges Bank bought a new stake in shares of Northern Trust in the 4th quarter valued at approximately $257,410,000. Eurizon Capital SGR S.p.A. acquired a new stake in Northern Trust during the 4th quarter worth $126,794,000. AQR Capital Management LLC lifted its holdings in Northern Trust by 69.0% in the fourth quarter. AQR Capital Management LLC now owns 1,723,516 shares of the asset manager’s stock valued at $235,415,000 after acquiring an additional 703,985 shares during the last quarter. Jupiter Asset Management Ltd. increased its stake in Northern Trust by 114.1% during the fourth quarter. Jupiter Asset Management Ltd. now owns 1,031,579 shares of the asset manager’s stock worth $140,903,000 after acquiring an additional 549,681 shares during the last quarter. Finally, PFA Pension Forsikringsaktieselskab purchased a new position in shares of Northern Trust during the 4th quarter worth $67,126,000. Hedge funds and other institutional investors own 83.19% of the company’s stock.
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.
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