TD Cowen Increases Northern Trust (NASDAQ:NTRS) Price Target to $175.00

Northern Trust (NASDAQ:NTRS) had its target price hoisted by equities research analysts at TD Cowen from $165.00 to $175.00 in a report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the asset manager’s stock. TD Cowen’s target price points to a potential upside of 17.69% from the company’s previous close.

Several other brokerages also recently issued reports on NTRS. BMO Capital Markets initiated coverage on shares of Northern Trust in a research report on Friday, October 3rd. They set a “market perform” rating and a $142.00 price target on the stock. Barclays boosted their target price on shares of Northern Trust from $136.00 to $160.00 and gave the stock an “equal weight” rating in a research note on Monday, January 5th. Keefe, Bruyette & Woods increased their price target on shares of Northern Trust from $123.00 to $125.00 and gave the company an “underperform” rating in a research note on Thursday, October 23rd. Wall Street Zen raised shares of Northern Trust from a “sell” rating to a “hold” rating in a report on Saturday, December 27th. Finally, Royal Bank Of Canada upped their price objective on Northern Trust from $139.00 to $159.00 and gave the stock an “outperform” rating in a report on Friday. Four research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Northern Trust has a consensus rating of “Hold” and a consensus price target of $143.23.

Northern Trust Price Performance

Northern Trust stock traded up $0.07 during trading hours on Monday, hitting $148.70. 157,299 shares of the stock were exchanged, compared to its average volume of 966,126. The stock has a market capitalization of $28.12 billion, a P/E ratio of 17.02, a P/E/G ratio of 1.21 and a beta of 1.27. The business’s 50-day moving average is $137.87 and its two-hundred day moving average is $131.90. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.70 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.

Northern Trust (NASDAQ:NTRS) last announced 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 business had revenue of $3.15 billion for the quarter. Northern Trust had a return on equity of 14.87% and a net margin of 12.15%.The firm’s revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.26 earnings per share. Equities research analysts expect that Northern Trust will post 8.27 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Susan Cohen Levy sold 27,591 shares of the company’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $128.13, for a total value of $3,535,234.83. Following the completion of the sale, the executive vice president owned 48,257 shares in the company, valued at approximately $6,183,169.41. This represents a 36.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider John Landers sold 766 shares of the firm’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $124.35, for a total value of $95,252.10. Following the transaction, the insider owned 7,313 shares in the company, valued at approximately $909,371.55. This trade represents a 9.48% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.77% of the stock is owned by insiders.

Institutional Investors Weigh In On Northern Trust

Several hedge funds have recently bought and sold shares of NTRS. Triumph Capital Management acquired a new stake in Northern Trust during the 3rd quarter worth $25,000. FNY Investment Advisers LLC bought a new stake in shares of Northern Trust in the second quarter worth about $25,000. Board of the Pension Protection Fund acquired a new stake in shares of Northern Trust during the fourth quarter worth about $27,000. AlphaCore Capital LLC lifted its holdings in shares of Northern Trust by 87.4% during the 2nd quarter. AlphaCore Capital LLC now owns 208 shares of the asset manager’s stock valued at $27,000 after purchasing an additional 97 shares in the last quarter. Finally, Hantz Financial Services Inc. grew its position in shares of Northern Trust by 5,225.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 213 shares of the asset manager’s stock valued at $27,000 after purchasing an additional 209 shares during the period. 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.