Truist Financial Lowers Northern Trust (NASDAQ:NTRS) Price Target to $155.00

Northern Trust (NASDAQ:NTRS) had its price target lowered by Truist Financial from $160.00 to $155.00 in a report released on Wednesday,Benzinga reports. The firm currently 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 current price.

Other analysts have also recently issued research reports about the stock. Wells Fargo & Company boosted their price target on shares of Northern Trust from $145.00 to $150.00 and gave the stock an “equal weight” rating in a research note on Friday, January 23rd. Citigroup initiated coverage on Northern Trust in a report on Monday, February 23rd. They issued a “neutral” rating on the stock. Barclays boosted their target price on Northern Trust from $136.00 to $160.00 and gave the stock an “equal weight” rating in a research report on Monday, January 5th. The Goldman Sachs Group raised their price target on Northern Trust from $130.00 to $148.00 and gave the company a “sell” rating in a report on Wednesday, January 28th. Finally, Royal Bank Of Canada lifted their price objective on Northern Trust from $139.00 to $159.00 and gave the stock an “outperform” rating in a research note on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $149.33.

Northern Trust Price Performance

NTRS traded up $3.10 during trading on Wednesday, reaching $142.67. 240,299 shares of the company traded hands, compared to its average volume of 1,087,954. The company has a market cap of $26.44 billion, a P/E ratio of 16.32, a PEG ratio of 1.08 and a beta of 1.27. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.69 and a current ratio of 0.69. Northern Trust has a 12-month low of $81.62 and a 12-month high of $157.60. The firm has a fifty day simple moving average of $143.80 and a 200 day simple moving average of $137.03.

Northern Trust (NASDAQ:NTRS) last released its earnings results on Friday, January 30th. The asset manager reported $2.42 EPS for the quarter, topping the consensus estimate of $2.37 by $0.05. The firm had revenue of $3.15 billion for the quarter. Northern Trust had a net margin of 12.15% and a return on equity of 14.87%. Northern Trust’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period last year, the firm posted $2.26 EPS. On average, equities analysts forecast that Northern Trust will post 8.27 EPS for the current year.

Insider Transactions at Northern Trust

In other Northern Trust news, CFO David W. Fox, Jr. sold 3,255 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $143.89, for a total transaction of $468,361.95. Following the sale, the chief financial officer directly owned 14,552 shares in the company, valued at $2,093,887.28. This represents a 18.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Richard Petrino acquired 1,000 shares of the stock in a transaction dated Thursday, February 5th. The stock was bought at an average cost of $148.91 per share, with a total value of $148,910.00. Following the completion of the purchase, the director directly owned 3,332 shares in the company, valued at approximately $496,168.12. The trade was a 42.88% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold 34,905 shares of company stock worth $5,166,714 in the last quarter. Company insiders own 0.66% of the company’s stock.

Institutional Trading of Northern Trust

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Triumph Capital Management bought a new position in Northern Trust during the third quarter valued at $25,000. Reflection Asset Management bought a new stake in shares of Northern Trust in the 4th quarter worth about $25,000. Board of the Pension Protection Fund purchased a new position in shares of Northern Trust during the 4th quarter worth about $27,000. Elyxium Wealth LLC bought a new position in Northern Trust during the 4th quarter valued at about $34,000. Finally, International Assets Investment Management LLC bought a new position in Northern Trust during the 4th quarter valued at about $35,000. 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.