Morgan Stanley Raises Northern Trust (NTRS) Price Target to $177

On October 22, 2026, Morgan Stanley maintained its Underweight rating on Northern Trust Corporation (NasdaqGS: NTRS) while raising its price target from $173 to $177. The research note provides a forward-looking perspective on the financial services firm as market participants evaluate its asset management and wealth management operations. Northern Trust closed at $164.45 on the day of the rating update.

NTRS Northern Trust Corporation

$164.55 ▲ +19.92% year to date

1M 3M YTD

Daily close · Oct 22, 2026

Morgan Stanley's Call on Northern Trust

In its October 22, 2026 research note, Morgan Stanley kept an Underweight stance on the stock while nudging up its target to $177 from $173. The firm joins several other Wall Street institutions reviewing their outlooks on the Chicago-based company.

Other Institutional Activity in Northern Trust

Primecap Management Company reduced its holdings by 448,632 shares, ending with 6,100,742 shares worth about $1,003,236,562. Massachusetts Financial Services Co. cut its stake by 103,345 shares, finishing with 5,702,539 shares valued at roughly $937,754,067. State Farm Mutual Automobile Insurance Co held steady with 4,145,102 shares valued at about $681,641,328.

Northern Trust Corporation Stock Holds Steady

Northern Trust recently traded around $166.91 as of October 22, 2026, up about 1.5% from its event-day close of $164.45. The shares trade about 6.4% below their 50-day moving average of $178.23 and roughly 1.4% above their 200-day moving average of $164.59. The stock sits 14.7% below its 52-week high of $195.78 and 37.3% above its 52-week low of $121.53, while trading 8.6% below the consensus mean price target.

Recent Earnings

Northern Trust reported trailing twelve-month revenue of $9,332,200,448 with earnings of $12.75 per share. The company posted a net profit margin of 26.0% and a return on equity of 18.4%, alongside year-over-year revenue growth of 12.1%. Its next quarterly earnings report is scheduled for January 21, 2027.

Dividend

Northern Trust pays an annual dividend rate of $3.28 per share, giving it a dividend yield of 2.11%. The company maintains a dividend payout ratio of 27.5%.

Insider Buying and Selling at Northern Trust Corporation

Director Robert Edward Moritz Jr. bought 225 shares on May 1, 2026, at an average price of $166.41 for a total value of $37,442. Officer Aengus Hallinan sold 3,668 shares on June 3, 2026, valued at $613,880. Director Robert Edward Moritz Jr. bought another 255 shares on July 29, 2026, at $179.57 for a total of $45,790. Officer Thomas A South sold 1,800 shares on August 24, 2026, at $184.90 for a total of $332,820.

Analysts Set New Price Targets

Other Wall Street firms adjusted their views on the stock around the same time. On October 2, 2026, JP Morgan maintained a Neutral rating with a target of $185.00, down from $185.50. Citigroup maintained a Neutral rating on October 5, 2026, lifting its target from $182.00 to $186.00. BMO Capital maintained an Outperform rating on October 6, 2026, lowering its target to $190.00 from $208.00. Barclays maintained an Equal-Weight rating on October 22, 2026, raising its target to $194.00 from $189.00. Overall, the stock carries a consensus Hold recommendation with a mean price target of $182.57 across 14 analyst opinions.

About Northern Trust Corporation

Northern Trust Corporation operates as a financial holding company offering wealth management, asset servicing, asset management, and banking services to individual and institutional clients. Headquartered in Chicago, Illinois, the firm operates through Asset Servicing and Wealth Management divisions.

Bottom Line

Investors will look toward Northern Trust's next earnings report on January 21, 2027, for further updates on financial performance. Market participants will also monitor whether the stock price moves closer to Morgan Stanley's $177 target.