TD Cowen Forecasts Strong Price Appreciation for Northern Trust (NASDAQ:NTRS) Stock

Northern Trust (NASDAQ:NTRS) had its price target hoisted by stock analysts at TD Cowen from $165.00 to $175.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the asset manager’s stock. TD Cowen’s target price would indicate a potential upside of 17.69% from the stock’s current price.

Several other equities research analysts have also recently commented on NTRS. Barclays boosted their target price on Northern Trust from $136.00 to $160.00 and gave the company an “equal weight” rating in a research note on Monday, January 5th. Weiss Ratings restated a “buy (b-)” rating on shares of Northern Trust in a report on Thursday. Citigroup raised their target price on shares of Northern Trust from $135.00 to $143.00 and gave the company a “neutral” rating in a research report on Tuesday, December 30th. 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 report on Friday. Finally, BMO Capital Markets started coverage on Northern Trust in a report on Friday, October 3rd. They issued a “market perform” rating and a $142.00 price objective for the company. Four analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $143.23.

Northern Trust Stock Up 0.0%

NTRS traded up $0.07 during trading on Monday, hitting $148.70. The company had a trading volume of 157,299 shares, compared to its average volume of 966,126. The company has a market capitalization of $28.12 billion, a PE ratio of 17.02, a PEG ratio of 1.21 and a beta of 1.27. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.57. Northern Trust has a one year low of $81.62 and a one year high of $157.60. The firm’s 50-day moving average price is $137.87 and its 200 day moving average price is $131.90.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings results on Friday, January 30th. The asset manager reported $2.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.37 by $0.05. The firm 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 business’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the prior year, the business earned $2.26 EPS. As a group, equities analysts expect that Northern Trust will post 8.27 earnings per share for the current year.

Insider Activity at Northern Trust

In other Northern Trust news, insider John Landers sold 766 shares of the firm’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $124.35, for a total transaction of $95,252.10. Following the completion of the sale, the insider owned 7,313 shares of the company’s stock, valued at $909,371.55. This trade represents a 9.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert Edward Jr. Moritz acquired 3,891 shares of the firm’s stock in a transaction on Tuesday, November 4th. The stock was bought at an average price of $128.57 per share, for a total transaction of $500,265.87. Following the completion of the acquisition, the director owned 6,686 shares of the company’s stock, valued at approximately $859,619.02. The trade was a 139.21% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.77% of the stock is owned by company insiders.

Institutional Investors Weigh In On Northern Trust

A number of institutional investors have recently made changes to their positions in the company. CWM LLC increased its stake in shares of Northern Trust by 122.6% during the fourth quarter. CWM LLC now owns 48,284 shares of the asset manager’s stock worth $6,595,000 after purchasing an additional 26,594 shares during the period. PFG Investments LLC bought a new position in Northern Trust during the 4th quarter worth $260,000. BCS Private Wealth Management Inc. lifted its holdings in shares of Northern Trust by 0.5% during the fourth quarter. BCS Private Wealth Management Inc. now owns 25,325 shares of the asset manager’s stock worth $3,479,000 after buying an additional 115 shares in the last quarter. Ritholtz Wealth Management lifted its holdings in shares of Northern Trust by 3.0% during the fourth quarter. Ritholtz Wealth Management now owns 33,457 shares of the asset manager’s stock worth $4,570,000 after buying an additional 983 shares in the last quarter. Finally, Venturi Wealth Management LLC boosted its position in shares of Northern Trust by 9.3% in the fourth quarter. Venturi Wealth Management LLC now owns 3,031 shares of the asset manager’s stock valued at $414,000 after acquiring an additional 258 shares during the period. 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.