Northern Trust (NASDAQ:NTRS) Given New $85.00 Price Target at Keefe, Bruyette & Woods

Northern Trust (NASDAQ:NTRS) had its target price cut by equities research analysts at Keefe, Bruyette & Woods from $92.00 to $85.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “market perform” rating on the asset manager’s stock. Keefe, Bruyette & Woods’ price target would suggest a potential upside of 1.21% from the company’s current price.

Several other research firms have also recently weighed in on NTRS. Evercore ISI lifted their price target on shares of Northern Trust from $86.00 to $87.00 and gave the company an “in-line” rating in a report on Thursday, April 4th. Bank of America boosted their target price on shares of Northern Trust from $93.00 to $101.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Finally, Jefferies Financial Group boosted their target price on shares of Northern Trust from $101.00 to $103.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Northern Trust presently has a consensus rating of “Hold” and a consensus price target of $85.75.

Northern Trust Stock Up 1.7 %

Shares of NASDAQ NTRS opened at $83.98 on Thursday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.61. Northern Trust has a 52 week low of $62.44 and a 52 week high of $89.25. The firm’s fifty day moving average is $83.62 and its 200 day moving average is $83.16. The company has a market cap of $17.18 billion, a price-to-earnings ratio of 18.54, a PEG ratio of 1.17 and a beta of 1.10.

Northern Trust (NASDAQ:NTRS) last issued its earnings results on Tuesday, April 16th. The asset manager reported $1.70 EPS for the quarter, topping the consensus estimate of $1.47 by $0.23. Northern Trust had a net margin of 7.59% and a return on equity of 12.57%. The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.79 billion. On average, equities research analysts expect that Northern Trust will post 6.88 earnings per share for the current year.

Insiders Place Their Bets

In other Northern Trust news, insider Steven L. Fradkin sold 4,097 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $82.56, for a total value of $338,248.32. Following the completion of the transaction, the insider now owns 46,078 shares of the company’s stock, valued at approximately $3,804,199.68. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Peter Cherecwich sold 12,000 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $87.09, for a total transaction of $1,045,080.00. Following the completion of the sale, the insider now owns 31,471 shares of the company’s stock, valued at approximately $2,740,809.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Steven L. Fradkin sold 4,097 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $82.56, for a total transaction of $338,248.32. Following the sale, the insider now directly owns 46,078 shares of the company’s stock, valued at approximately $3,804,199.68. The disclosure for this sale can be found here. 0.64% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in NTRS. Spartan Planning & Wealth Management grew its stake in shares of Northern Trust by 10,566.7% during the 4th quarter. Spartan Planning & Wealth Management now owns 320 shares of the asset manager’s stock valued at $27,000 after acquiring an additional 317 shares during the period. Fortitude Family Office LLC bought a new position in Northern Trust in the 4th quarter worth approximately $28,000. Quent Capital LLC boosted its stake in Northern Trust by 77.8% in the 4th quarter. Quent Capital LLC now owns 361 shares of the asset manager’s stock worth $30,000 after purchasing an additional 158 shares during the period. Allworth Financial LP boosted its stake in Northern Trust by 94.1% in the 4th 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 period. Finally, Bruce G. Allen Investments LLC bought a new position in Northern Trust in the 4th quarter worth approximately $45,000. 83.19% of the stock is currently owned by institutional investors.

About Northern Trust

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.