Jefferies Believes Northern Trust (NASDAQ: NTRS) Won’t Stop Here

By Austin Angelo

Jefferies analyst Ken Usdin reiterated a Buy rating on Northern Trust (NASDAQ: NTRS) yesterday and set a price target of $102. The company’s shares opened today at $89.33, close to its 52-week high of $92.29.

According to, Usdin is a top 25 analyst with an average return of 20.5% and a 77.5% success rate. Usdin covers the Financial sector, focusing on stocks such as Government Properties Income Trust, Old National Bancorp Capital, and Discover Financial Services.

Currently, the analyst consensus on Northern Trust is Moderate Buy and the average price target is $95.80, representing a 7.2% upside.

In a report issued on May 10, RBC Capital also reiterated a Buy rating on the stock with a $97 price target.

Based on Northern Trust’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $1.34 billion and quarterly net profit of $272 million. In comparison, last year the company earned revenue of $1.26 billion and had a net profit of $238 million.

Based on the recent corporate insider activity of 139 insiders, corporate insider sentiment is negative on the stock. Earlier this month, Frederick Waddell, the Chairman & CEO of NTRS sold 205,923 shares for a total of $18,627,795.

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Northern Trust Corp. operates as a financial holding company, which provides asset servicing, fund administration, asset management, fiduciary and banking solutions for corporations, institutions, families and individuals worldwide. It operates through the Corporate and Institutional Services and Wealth Management business segments. The Corporate and Institutional Services segment provides asset servicing, brokerage, banking and related services to corporate and public retirement funds, foundations, endowments, fund managers, insurance companies, sovereign wealth funds, and other institutional investors around the globe. The Wealth Management segment provides trust, investment management, custody, and philanthropic services, financial consulting; guardianship and estate administration, family business consulting; family financial education, brokerage services and private and business banking. The company was founded in 1971 and is headquartered in Chicago, IL.