Northern Trust (NASDAQ:NTRS) Price Target Raised to $185.50

Northern Trust (NASDAQ:NTRS) had its price objective raised by JPMorgan Chase & Co. from $179.50 to $185.50 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the asset manager’s stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 1.04% from the stock’s previous close.

Other analysts have also issued research reports about the stock. Truist Financial raised their target price on shares of Northern Trust from $176.00 to $186.00 and gave the company a “hold” rating in a research report on Friday, June 26th. Keefe, Bruyette & Woods increased their price target on Northern Trust from $157.00 to $175.00 and gave the company an “underperform” rating in a research note on Thursday, July 9th. The Goldman Sachs Group raised their price objective on Northern Trust from $151.00 to $169.00 and gave the company a “neutral” rating in a report on Wednesday, April 22nd. Morgan Stanley upped their target price on Northern Trust from $170.00 to $173.00 and gave the stock an “underweight” rating in a report on Thursday, July 23rd. Finally, BMO Capital Markets upgraded Northern Trust from a “market perform” rating to an “outperform” rating and set a $168.00 target price for the company in a research report on Monday, April 6th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Northern Trust presently has a consensus rating of “Hold” and a consensus target price of $180.68.

Northern Trust Price Performance

Shares of NTRS traded up $1.40 during mid-day trading on Tuesday, reaching $183.59. The company had a trading volume of 474,311 shares, compared to its average volume of 1,098,808. The company has a market capitalization of $33.59 billion, a price-to-earnings ratio of 15.75, a P/E/G ratio of 1.03 and a beta of 1.25. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.65 and a current ratio of 0.65. The company’s 50 day simple moving average is $176.59 and its 200 day simple moving average is $159.52. Northern Trust has a 1-year low of $121.12 and a 1-year high of $191.60.

Insiders Place Their Bets

In related news, Director Robert Edward Jr. Moritz acquired 255 shares of the firm’s stock in a transaction that occurred on Wednesday, July 29th. The stock was acquired at an average cost of $179.57 per share, for a total transaction of $45,790.35. Following the completion of the acquisition, the director directly owned 8,400 shares of the company’s stock, valued at approximately $1,508,388. This trade represents a 3.13% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 0.66% of the stock is owned by insiders.

Hedge Funds Weigh In On Northern Trust

A number of hedge funds have recently made changes to their positions in NTRS. Norges Bank bought a new position in shares of Northern Trust during the 4th quarter worth approximately $257,410,000. Eurizon Capital SGR S.p.A. acquired a new position in shares of Northern Trust during the 4th quarter valued at $126,794,000. AQR Capital Management LLC boosted its stake in Northern Trust by 69.0% during the fourth quarter. AQR Capital Management LLC now owns 1,723,516 shares of the asset manager’s stock worth $235,415,000 after acquiring an additional 703,985 shares in the last quarter. Jupiter Asset Management Ltd. boosted 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 in the last quarter. Finally, PFA Pension Forsikringsaktieselskab acquired a new stake in Northern Trust in the fourth quarter worth $67,126,000. 83.19% of the stock is currently owned by institutional investors.

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.