The Goldman Sachs Group Raises Northern Trust (NASDAQ:NTRS) Price Target to $102.00

Northern Trust (NASDAQ:NTRS) had its price objective boosted by analysts at The Goldman Sachs Group from $92.00 to $102.00 in a report released on Friday,Benzinga reports. The firm currently has a “sell” rating on the asset manager’s stock. The Goldman Sachs Group’s price objective would suggest a potential downside of 8.04% from the stock’s current price.

NTRS has been the topic of a number of other reports. Truist Financial assumed coverage on Northern Trust in a research report on Tuesday, January 7th. They set a “hold” rating and a $110.00 price objective on the stock. Evercore ISI upped their price target on shares of Northern Trust from $86.00 to $103.00 and gave the stock an “in-line” rating in a research report on Thursday, October 24th. Wells Fargo & Company increased their price objective on shares of Northern Trust from $108.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Friday, November 15th. Royal Bank of Canada lifted their target price on shares of Northern Trust from $100.00 to $107.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, Barclays increased their price target on Northern Trust from $115.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Northern Trust currently has a consensus rating of “Hold” and a consensus price target of $110.75.

Northern Trust Stock Up 1.3 %

NTRS opened at $110.92 on Friday. The firm’s 50 day simple moving average is $105.89 and its two-hundred day simple moving average is $96.59. The company has a market capitalization of $21.99 billion, a PE ratio of 13.80, a PEG ratio of 1.22 and a beta of 1.08. Northern Trust has a 1-year low of $76.67 and a 1-year high of $111.87. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58.

Northern Trust (NASDAQ:NTRS) last announced its earnings results on Thursday, January 23rd. The asset manager reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.30. Northern Trust had a return on equity of 12.75% and a net margin of 10.92%. As a group, equities analysts forecast that Northern Trust will post 7.56 EPS for the current year.

Insiders Place Their Bets

In other Northern Trust news, Vice Chairman Steven L. Fradkin sold 9,100 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $111.00, for a total transaction of $1,010,100.00. Following the sale, the insider now directly owns 47,797 shares in the company, valued at $5,305,467. This represents a 15.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Peter Cherecwich sold 16,153 shares of Northern Trust stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $105.18, for a total value of $1,698,972.54. Following the completion of the transaction, the chief operating officer now owns 4,397 shares of the company’s stock, valued at approximately $462,476.46. This trade represents a 78.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,253 shares of company stock valued at $3,238,073 in the last quarter. 0.64% of the stock is currently owned by insiders.

Institutional Trading of Northern Trust

A number of institutional investors have recently bought and sold shares of the stock. Allworth Financial LP increased its position in Northern Trust by 9.1% during the third quarter. Allworth Financial LP now owns 1,170 shares of the asset manager’s stock valued at $105,000 after acquiring an additional 98 shares during the last quarter. Juncture Wealth Strategies LLC grew its holdings in Northern Trust by 2.4% during the 4th quarter. Juncture Wealth Strategies LLC now owns 4,212 shares of the asset manager’s stock valued at $432,000 after purchasing an additional 100 shares during the last quarter. Ballentine Partners LLC raised its position in Northern Trust by 4.4% in the 4th quarter. Ballentine Partners LLC now owns 2,483 shares of the asset manager’s stock worth $255,000 after purchasing an additional 105 shares during the period. Pallas Capital Advisors LLC lifted its stake in 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 purchasing an additional 107 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its position in shares of Northern Trust by 14.5% during the third quarter. Massmutual Trust Co. FSB ADV now owns 922 shares of the asset manager’s stock valued at $83,000 after buying an additional 117 shares during the period. 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.