Northern Trust (NASDAQ:NTRS) Shares Gap Down to $83.71

Northern Trust Co. (NASDAQ:NTRS)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $83.71, but opened at $80.75. Northern Trust shares last traded at $82.46, with a volume of 354,411 shares.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Wolfe Research lowered shares of Northern Trust from a “peer perform” rating to an “underperform” rating and set a $85.00 price target for the company. in a research report on Wednesday, January 3rd. Evercore ISI boosted their price target on Northern Trust from $86.00 to $87.00 and gave the company an “in-line” rating in a research note on Thursday, April 4th. Morgan Stanley reaffirmed an “underweight” rating and issued a $86.00 price objective (up previously from $82.00) on shares of Northern Trust in a research note on Tuesday, January 30th. Bank of America upped their price target on Northern Trust from $93.00 to $101.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Royal Bank of Canada boosted their price objective on Northern Trust from $82.00 to $86.00 and gave the stock an “outperform” rating in a research report on Friday, January 19th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $84.58.

Northern Trust Stock Performance

The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.61. The stock has a market cap of $16.57 billion, a price-to-earnings ratio of 17.93, a PEG ratio of 1.64 and a beta of 1.13. The stock’s fifty day moving average is $83.17 and its 200-day moving average is $78.82.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings data on Thursday, January 18th. The asset manager reported $0.52 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.81). The company had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.71 billion. Northern Trust had a net margin of 7.59% and a return on equity of 12.57%. The company’s revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.65 earnings per share. On average, analysts forecast that Northern Trust Co. will post 6.57 EPS for the current year.

Insider Activity

In related news, insider Steven L. Fradkin sold 30,392 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $80.11, for a total transaction of $2,434,703.12. Following the completion of the transaction, the insider now directly owns 55,707 shares in the company, valued at $4,462,687.77. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.64% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in NTRS. Spartan Planning & Wealth Management grew its holdings in shares of Northern Trust by 10,566.7% in the 4th quarter. Spartan Planning & Wealth Management now owns 320 shares of the asset manager’s stock valued at $27,000 after acquiring an additional 317 shares in the last quarter. Fortitude Family Office LLC bought a new position in Northern Trust in the fourth quarter valued at approximately $28,000. Quent Capital LLC grew its stake in Northern Trust by 77.8% in the fourth quarter. Quent Capital LLC now owns 361 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 158 shares in the last quarter. Allworth Financial LP increased its position in shares of Northern Trust by 94.1% during the 4th quarter. Allworth Financial LP now owns 359 shares of the asset manager’s stock worth $30,000 after purchasing an additional 174 shares during the last quarter. Finally, Belpointe Asset Management LLC raised its stake in shares of Northern Trust by 84.5% during the 1st quarter. Belpointe Asset Management LLC now owns 393 shares of the asset manager’s stock worth $35,000 after purchasing an additional 180 shares in the last quarter. 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.