Citigroup Issues Pessimistic Forecast for Northern Trust (NASDAQ:NTRS) Stock Price

Northern Trust (NASDAQ:NTRS) had its price objective lowered by research analysts at Citigroup from $186.00 to $170.00 in a report issued on Friday, Benzinga reports. The firm currently has a “neutral” rating on the asset manager’s stock. Citigroup‘s price objective suggests a potential upside of 0.92% from the company’s previous close.

Several other equities research analysts have also recently issued reports on the stock. Truist Financial raised their target price on shares of Northern Trust from $176.00 to $186.00 and gave the stock a “hold” rating in a research report on Friday, June 26th. Weiss Ratings raised shares of Northern Trust from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, October 8th. Capital One Financial set a $190.00 price target on shares of Northern Trust in a research note on Tuesday, October 6th. Wells Fargo & Company increased their price target on shares of Northern Trust from $189.00 to $194.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 23rd. Finally, Barclays lifted their price target on shares of Northern Trust from $189.00 to $194.00 and gave the company an “equal weight” rating in a report on Thursday. Three analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Northern Trust has a consensus rating of “Hold” and a consensus price target of $183.47.

Northern Trust Trading Up 1.6%

NASDAQ:NTRS traded up $2.63 during mid-day trading on Friday, reaching $168.46. The company’s stock had a trading volume of 661,789 shares, compared to its average volume of 1,099,639. The company’s fifty day simple moving average is $177.64 and its two-hundred day simple moving average is $173.84. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.61 and a quick ratio of 0.65. Northern Trust has a twelve month low of $121.53 and a twelve month high of $195.78. The stock has a market cap of $30.82 billion, a P/E ratio of 14.46, a P/E/G ratio of 0.95 and a beta of 1.24.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings results on Wednesday, October 21st. The asset manager reported $3.40 EPS for the quarter, beating the consensus estimate of $2.87 by $0.53. Northern Trust had a return on equity of 17.97% and a net margin of 15.86%. The company had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.26 billion. During the same quarter in the previous year, the business earned $2.29 EPS. The firm’s revenue was up 13.4% on a year-over-year basis. On average, equities analysts predict that Northern Trust will post 11.65 EPS for the current year.

Insider Buying and Selling

In other Northern Trust news, Director Robert Moritz, Jr. purchased 255 shares of Northern Trust stock in a transaction on Wednesday, July 29th. The shares were purchased at an average cost of $179.57 per share, with a total value of $45,790.35. Following the completion of the transaction, the director directly owned 8,400 shares in the company, valued at approximately $1,508,388. This represents a 3.13% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Thomas South sold 1,800 shares of Northern Trust stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $184.90, for a total transaction of $332,820.00. Following the transaction, the executive vice president directly owned 92,917 shares in the company, valued at approximately $17,180,353.30. This trade represents a 1.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.66% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Northern Trust

Hedge funds have recently made changes to their positions in the business. Fifth Third Wealth Advisors LLC increased its stake in Northern Trust by 4.6% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 2,119 shares of the asset manager’s stock worth $359,000 after buying an additional 94 shares during the period. MBL Wealth LLC acquired a new position in Northern Trust in the 3rd quarter worth $356,000. Obermeyer Wealth Partners purchased a new position in Northern Trust in the 3rd quarter valued at about $200,000. Cantor Fitzgerald Investment Advisors L.P. purchased a new position in Northern Trust in the 3rd quarter valued at about $677,000. Finally, Nisa Investment Advisors LLC grew its stake in shares of Northern Trust by 6.0% during the third quarter. Nisa Investment Advisors LLC now owns 17,848 shares of the asset manager’s stock valued at $3,039,000 after acquiring an additional 1,015 shares in the last quarter. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Northern Trust Company Profile

Northern Trust Corporation (NASDAQ:NTRS) is a financial services company that provides wealth management, asset servicing, asset management and banking services. The company serves institutional investors, corporations, financial institutions, high-net-worth individuals and families.

Its offerings include custody and administration of investment assets, fund accounting, securities lending, foreign exchange, treasury services, investment management, trust and estate services, private banking and wealth planning.