Northern Trust (NASDAQ:NTRS) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Northern Trust (NASDAQ:NTRS) had its target price hoisted by research analysts at Wells Fargo & Company from $175.00 to $189.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the asset manager’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 8.16% from the stock’s current price.

A number of other equities research analysts also recently weighed in on NTRS. Barclays raised their target price on Northern Trust from $160.00 to $176.00 and gave the company an “equal weight” rating in a report on Wednesday, April 22nd. Zacks Research upgraded Northern Trust from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. BMO Capital Markets raised Northern Trust from a “market perform” rating to an “outperform” rating and set a $168.00 price objective on the stock in a research note on Monday, April 6th. Truist Financial lifted their target price on Northern Trust from $155.00 to $176.00 and gave the company a “hold” rating in a research report on Wednesday, April 22nd. Finally, Weiss Ratings raised Northern Trust from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 4th. One investment 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 company. According to data from MarketBeat.com, Northern Trust currently has a consensus rating of “Hold” and an average target price of $165.25.

Northern Trust Stock Performance

Shares of Northern Trust stock opened at $174.74 on Wednesday. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.51. The company has a market cap of $32.33 billion, a PE ratio of 18.37, a price-to-earnings-growth ratio of 1.26 and a beta of 1.25. The company has a 50 day moving average of $166.51 and a 200-day moving average of $151.14. Northern Trust has a 1-year low of $117.76 and a 1-year high of $177.78.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings data on Tuesday, April 21st. The asset manager reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.37 by $0.34. Northern Trust had a net margin of 12.84% and a return on equity of 15.94%. The business had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same period last year, the firm posted $1.90 earnings per share. The firm’s quarterly revenue was up 13.8% compared to the same quarter last year. As a group, equities research analysts forecast that Northern Trust will post 10.68 earnings per share for the current fiscal year.

Insider Activity at Northern Trust

In other Northern Trust news, Director Robert Edward Jr. Moritz purchased 225 shares of the business’s stock in a transaction dated Friday, May 1st. The shares were bought at an average price of $166.41 per share, for a total transaction of $37,442.25. Following the completion of the acquisition, the director owned 8,145 shares in the company, valued at approximately $1,355,409.45. This trade represents a 2.84% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO David W. Fox, Jr. sold 19,987 shares of Northern Trust stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $166.16, for a total value of $3,321,039.92. Following the transaction, the chief financial officer directly owned 18,588 shares in the company, valued at $3,088,582.08. The trade was a 51.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 22,800 shares of company stock worth $3,785,251 in the last quarter. 0.66% of the stock is owned by insiders.

Institutional Investors Weigh In On Northern Trust

Several large investors have recently modified their holdings of NTRS. CWM LLC grew its stake in shares of Northern Trust by 122.6% during the 4th quarter. CWM LLC now owns 48,284 shares of the asset manager’s stock worth $6,595,000 after acquiring an additional 26,594 shares during the period. iSAM Funds UK Ltd bought a new stake in Northern Trust in the 3rd quarter valued at about $2,253,000. Cinctive Capital Management LP raised its stake in Northern Trust by 113.7% in the 3rd quarter. Cinctive Capital Management LP now owns 28,939 shares of the asset manager’s stock valued at $3,895,000 after acquiring an additional 15,398 shares during the period. Barclays PLC lifted its holdings in Northern Trust by 62.4% during the third quarter. Barclays PLC now owns 1,042,084 shares of the asset manager’s stock valued at $140,265,000 after purchasing an additional 400,247 shares during the last quarter. Finally, Swiss Life Asset Management Ltd lifted its holdings in Northern Trust by 119.9% during the third quarter. Swiss Life Asset Management Ltd now owns 83,175 shares of the asset manager’s stock valued at $11,195,000 after purchasing an additional 45,356 shares during the last quarter. 83.19% of the stock is currently owned by institutional investors and hedge funds.

About Northern Trust

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.