Citigroup Lowers Northern Trust (NASDAQ:NTRS) Price Target to $105.00

Northern Trust (NASDAQ:NTRS) had its price target cut by analysts at Citigroup from $110.00 to $105.00 in a report issued on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the asset manager’s stock. Citigroup’s price target would suggest a potential upside of 4.02% from the stock’s previous close.

Other analysts have also recently issued research reports about the company. Morgan Stanley lowered their price target on Northern Trust from $138.00 to $136.00 and set an “equal weight” rating for the company in a research report on Thursday, March 6th. UBS Group lifted their target price on Northern Trust from $110.00 to $114.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. Truist Financial upped their target price on Northern Trust from $110.00 to $116.00 and gave the company a “hold” rating in a research report on Friday, January 24th. Royal Bank of Canada raised their price target on shares of Northern Trust from $107.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, January 24th. Finally, StockNews.com downgraded shares of Northern Trust from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $112.85.

Northern Trust Stock Up 2.2 %

Shares of NTRS traded up $2.17 during mid-day trading on Monday, hitting $100.94. 153,593 shares of the company traded hands, compared to its average volume of 1,174,645. The company has a market capitalization of $19.75 billion, a PE ratio of 10.32, a price-to-earnings-growth ratio of 1.72 and a beta of 1.07. The company has a quick ratio of 0.71, a current ratio of 0.68 and a debt-to-equity ratio of 0.58. The business has a 50 day moving average of $107.42 and a 200 day moving average of $102.55. Northern Trust has a 1-year low of $79.32 and a 1-year high of $114.67.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings results on Thursday, January 23rd. The asset manager reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $0.30. Northern Trust had a net margin of 12.77% and a return on equity of 13.74%. Equities research analysts anticipate that Northern Trust will post 8.27 EPS for the current year.

Insiders Place Their Bets

In other Northern Trust news, COO Peter Cherecwich sold 26,132 shares of the stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $112.36, for a total transaction of $2,936,191.52. Following the transaction, the chief operating officer now directly owns 26,586 shares of the company’s stock, valued at $2,987,202.96. This trade represents a 49.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Thomas A. South sold 3,804 shares of Northern Trust stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $113.00, for a total transaction of $429,852.00. Following the completion of the sale, the executive vice president now owns 81,794 shares in the company, valued at approximately $9,242,722. This trade represents a 4.44 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 35,335 shares of company stock worth $3,970,211. 0.64% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Northern Trust

Several hedge funds and other institutional investors have recently made changes to their positions in NTRS. Juncture Wealth Strategies LLC increased its position in shares of Northern Trust by 2.4% during the fourth quarter. Juncture Wealth Strategies LLC now owns 4,212 shares of the asset manager’s stock worth $432,000 after purchasing an additional 100 shares in the last quarter. Ballentine Partners LLC grew its holdings in shares of Northern Trust by 4.4% during the fourth quarter. Ballentine Partners LLC now owns 2,483 shares of the asset manager’s stock worth $255,000 after buying an additional 105 shares in the last quarter. Pallas Capital Advisors LLC lifted its stake in shares of Northern Trust by 1.8% in the fourth quarter. Pallas Capital Advisors LLC now owns 6,091 shares of the asset manager’s stock worth $624,000 after buying an additional 107 shares in the last quarter. Ellevest Inc. boosted its position in Northern Trust by 3.4% during the fourth quarter. Ellevest Inc. now owns 3,410 shares of the asset manager’s stock worth $350,000 after acquiring an additional 113 shares during the last quarter. Finally, Bradley Foster & Sargent Inc. CT grew its stake in Northern Trust by 2.4% during the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 4,774 shares of the asset manager’s stock valued at $489,000 after acquiring an additional 114 shares in the last quarter. Hedge funds and other institutional investors own 83.19% of the company’s stock.

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.