Truist Financial Issues Pessimistic Forecast for Northern Trust (NASDAQ:NTRS) Stock Price

Northern Trust (NASDAQ:NTRS) had its target price cut by equities researchers at Truist Financial from $160.00 to $155.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “hold” rating on the asset manager’s stock. Truist Financial’s price target would suggest a potential upside of 8.64% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. TD Cowen raised their price target on shares of Northern Trust from $165.00 to $175.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Wall Street Zen raised shares of Northern Trust from a “sell” rating to a “hold” rating in a research report on Saturday, December 27th. Citigroup initiated coverage on shares of Northern Trust in a research note on Monday, February 23rd. They issued a “neutral” rating on the stock. The Goldman Sachs Group raised their target price on shares of Northern Trust from $130.00 to $148.00 and gave the stock a “sell” rating in a research report on Wednesday, January 28th. Finally, Barclays lifted their price target on shares of Northern Trust from $136.00 to $160.00 and gave the company an “equal weight” rating in a research note on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $149.33.

Northern Trust Trading Up 2.2%

NTRS traded up $3.10 during trading hours on Wednesday, reaching $142.67. 240,299 shares of the company’s stock traded hands, compared to its average volume of 1,087,954. The firm has a 50-day moving average price of $143.80 and a 200 day moving average price of $137.03. The firm has a market capitalization of $26.44 billion, a PE ratio of 16.32, a PEG ratio of 1.08 and a beta of 1.27. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.57. Northern Trust has a 52-week low of $81.62 and a 52-week high of $157.60.

Northern Trust (NASDAQ:NTRS) last released its earnings results on Friday, January 30th. The asset manager reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $2.37 by $0.05. Northern Trust had a return on equity of 14.87% and a net margin of 12.15%.The business had revenue of $3.15 billion for the quarter. During the same quarter in the previous year, the business earned $2.26 EPS. The business’s revenue for the quarter was up 8.4% on a year-over-year basis. As a group, sell-side analysts predict that Northern Trust will post 8.27 EPS for the current fiscal year.

Insider Buying and Selling at Northern Trust

In other news, insider Clive Bellows sold 1,148 shares of the stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $145.26, for a total transaction of $166,758.48. Following the transaction, the insider directly owned 34,133 shares in the company, valued at approximately $4,958,159.58. This trade represents a 3.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO David W. Fox, Jr. sold 3,255 shares of Northern Trust stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $143.89, for a total transaction of $468,361.95. Following the transaction, the chief financial officer directly owned 14,552 shares in the company, valued at approximately $2,093,887.28. The trade was a 18.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 34,905 shares of company stock worth $5,166,714. 0.66% of the stock is currently owned by company insiders.

Institutional Trading of Northern Trust

Several hedge funds and other institutional investors have recently bought and sold shares of NTRS. Triumph Capital Management bought a new position in shares of Northern Trust in the 3rd quarter worth $25,000. Reflection Asset Management bought a new stake in Northern Trust during the fourth quarter valued at about $25,000. Board of the Pension Protection Fund purchased a new position in Northern Trust in the fourth quarter valued at about $27,000. Elyxium Wealth LLC purchased a new position in Northern Trust in the fourth quarter valued at about $34,000. Finally, International Assets Investment Management LLC bought a new position in Northern Trust in the fourth quarter worth about $35,000. 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.