Northern Trust (NASDAQ:NTRS – Get Rating) had its price objective dropped by equities research analysts at Piper Sandler from $141.00 to $121.00 in a research report issued to clients and investors on Friday, The Fly reports. Piper Sandler’s price target would indicate a potential upside of 28.97% from the stock’s current price.
Several other equities research analysts have also recently issued reports on NTRS. The Goldman Sachs Group upgraded shares of Northern Trust from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $128.00 to $141.00 in a research report on Wednesday, March 30th. Morgan Stanley lowered their price objective on shares of Northern Trust from $126.00 to $123.00 and set an “equal weight” rating for the company in a research note on Thursday, June 2nd. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Northern Trust from $145.00 to $116.00 in a research report on Thursday, May 19th. Finally, StockNews.com started coverage on shares of Northern Trust in a report on Thursday, March 31st. They issued a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Northern Trust has a consensus rating of “Hold” and an average price target of $127.58.
Shares of Northern Trust stock opened at $93.82 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.68 and a quick ratio of 0.68. The company has a 50-day moving average of $104.75 and a 200 day moving average of $113.52. The firm has a market cap of $19.55 billion, a price-to-earnings ratio of 13.03 and a beta of 1.12. Northern Trust has a 1 year low of $89.68 and a 1 year high of $135.15.
Northern Trust (NASDAQ:NTRS – Get Rating) last released its quarterly earnings data on Tuesday, April 26th. The asset manager reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.66 by $0.11. Northern Trust had a net margin of 23.57% and a return on equity of 14.30%. The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.69 billion. During the same period last year, the business earned $1.70 EPS. Northern Trust’s revenue was up 8.5% compared to the same quarter last year. On average, equities analysts anticipate that Northern Trust will post 7.75 EPS for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in NTRS. Mercer Global Advisors Inc. ADV grew its holdings in shares of Northern Trust by 1.7% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 5,379 shares of the asset manager’s stock worth $643,000 after acquiring an additional 91 shares during the last quarter. Kentucky Retirement Systems increased its stake in shares of Northern Trust by 0.8% in the fourth quarter. Kentucky Retirement Systems now owns 12,592 shares of the asset manager’s stock worth $1,506,000 after purchasing an additional 99 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co increased its stake in shares of Northern Trust by 3.8% in the fourth quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 2,750 shares of the asset manager’s stock worth $329,000 after purchasing an additional 100 shares during the period. Louisiana State Employees Retirement System increased its stake in Northern Trust by 0.8% during the first quarter. Louisiana State Employees Retirement System now owns 13,100 shares of the asset manager’s stock valued at $1,483,000 after acquiring an additional 100 shares during the period. Finally, Atwood & Palmer Inc. boosted its holdings in Northern Trust by 34.5% during the first quarter. Atwood & Palmer Inc. now owns 390 shares of the asset manager’s stock valued at $46,000 after purchasing an additional 100 shares in the last quarter. 81.35% of the stock is currently owned by institutional investors and hedge funds.
About Northern Trust (Get Rating)
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, Corporate & Institutional Services (C&IS) and Wealth Management.