Northern Trust (NASDAQ:NTRS) Shares Gap Down to $83.71

Shares of Northern Trust Co. (NASDAQ:NTRS) gapped down before the market opened on Tuesday . The stock had previously closed at $83.71, but opened at $80.75. Northern Trust shares last traded at $82.46, with a volume of 354,411 shares changing hands.

Wall Street Analyst Weigh In

Several research firms have issued reports on NTRS. Morgan Stanley restated an “underweight” rating and set a $86.00 target price (up previously from $82.00) on shares of Northern Trust in a research report on Tuesday, January 30th. Royal Bank of Canada raised their target price on Northern Trust from $82.00 to $86.00 and gave the stock an “outperform” rating in a research note on Friday, January 19th. Barclays lifted their target price on Northern Trust from $90.00 to $98.00 and gave the company an “equal weight” rating in a report on Tuesday, January 2nd. UBS Group increased their price target on shares of Northern Trust from $72.00 to $84.00 and gave the stock a “neutral” rating in a report on Tuesday, January 9th. Finally, Bank of America boosted their price objective on shares of Northern Trust from $93.00 to $101.00 and gave the company a “buy” rating in a research note on Wednesday. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $84.58.

Northern Trust Trading Up 2.1 %

The stock’s 50 day simple moving average is $83.17 and its 200 day simple moving average is $78.82. The firm has a market cap of $16.57 billion, a PE ratio of 17.93, a PEG ratio of 1.64 and a beta of 1.13. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.71.

Northern Trust (NASDAQ:NTRS) last announced its earnings results on Thursday, January 18th. The asset manager reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.81). Northern Trust had a return on equity of 12.57% and a net margin of 7.59%. The company had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter last year, the firm posted $1.65 earnings per share. The firm’s revenue was up 1.9% on a year-over-year basis. On average, sell-side analysts forecast that Northern Trust Co. will post 6.57 earnings per share for the current fiscal year.

Insider Activity at Northern Trust

In other news, insider Steven L. Fradkin sold 30,392 shares of the business’s 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 completion of the sale, the insider now owns 55,707 shares of the company’s stock, valued at approximately $4,462,687.77. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.64% of the stock is owned by insiders.

Institutional Investors Weigh In On Northern Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Spartan Planning & Wealth Management grew its holdings in Northern Trust by 10,566.7% in the 4th quarter. Spartan Planning & Wealth Management now owns 320 shares of the asset manager’s stock worth $27,000 after acquiring an additional 317 shares during the last quarter. Fortitude Family Office LLC bought a new stake in shares of Northern Trust in the fourth quarter worth about $28,000. Allworth Financial LP grew its stake in shares of Northern Trust by 94.1% in the fourth quarter. Allworth Financial LP now owns 359 shares of the asset manager’s stock worth $30,000 after purchasing an additional 174 shares during the last quarter. Quent Capital LLC increased its holdings in Northern Trust by 77.8% during the 4th quarter. Quent Capital LLC now owns 361 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 158 shares during the period. Finally, Belpointe Asset Management LLC lifted its holdings in Northern Trust by 84.5% in the 1st quarter. Belpointe Asset Management LLC now owns 393 shares of the asset manager’s stock worth $35,000 after buying an additional 180 shares during the period. 83.19% of the stock is currently owned by 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.