Northern Trust (NASDAQ:NTRS) Price Target Cut to $179.00 by Analysts at Evercore

Northern Trust (NASDAQ:NTRS) had its price target lowered by Evercore from $183.00 to $179.00 in a note issued to investors on Wednesday. Evercore‘s price target indicates a potential upside of 5.82% from the company’s current price.

NTRS has been the subject of several other research reports. BMO Capital Markets cut their price target on Northern Trust from $208.00 to $190.00 and set an “outperform” rating for the company in a report on Tuesday, October 6th. Capital One Financial set a $190.00 price objective on shares of Northern Trust in a report on Tuesday, October 6th. Bank of America increased their price objective on shares of Northern Trust from $190.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. JPMorgan Chase & Co. raised their target price on shares of Northern Trust from $185.00 to $191.50 and gave the stock a “neutral” rating in a research note on Friday. Finally, Royal Bank Of Canada cut shares of Northern Trust from an “outperform” rating to a “sector perform” rating and raised their target price for the stock from $159.00 to $178.00 in a research note on Wednesday, July 22nd. Two investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $181.03.

Northern Trust Stock Performance

Northern Trust stock traded down $3.76 during midday trading on Wednesday, reaching $169.16. 1,219,679 shares of the company’s stock were exchanged, compared to its average volume of 1,102,797. Northern Trust has a 52 week low of $121.53 and a 52 week high of $195.78. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.65 and a current ratio of 0.61. The firm has a market cap of $30.95 billion, a price-to-earnings ratio of 13.26, a P/E/G ratio of 0.88 and a beta of 1.24. The stock’s 50-day simple moving average is $175.79 and its 200 day simple moving average is $165.17.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings data on Wednesday, October 21st. The asset manager reported $3.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 $2.30 billion during the quarter, compared to analysts’ expectations of $2.26 billion. During the same period last year, the firm posted $2.29 earnings per share. The business’s revenue was up 13.4% on a year-over-year basis. On average, analysts expect that Northern Trust will post 11.95 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Northern Trust news, EVP Thomas A. South sold 1,800 shares of the stock in a transaction on Monday, August 24th. The stock was sold at an average price of $184.90, for a total transaction of $332,820.00. Following the transaction, the executive vice president owned 92,917 shares in the company, valued at $17,180,353.30. This trade represents a 1.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Susan Levy sold 16,984 shares of Northern Trust stock in a transaction on Friday, October 23rd. The stock was sold at an average price of $168.15, for a total value of $2,855,859.60. Following the sale, the executive vice president directly owned 59,378 shares of the company’s stock, valued at $9,984,410.70. This represents a 22.24% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 22,706 shares of company stock worth $3,850,282. Insiders own 0.66% of the company’s stock.

Institutional Trading of Northern Trust

Several hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in shares of Northern Trust in the second quarter valued at approximately $2,523,781,000. Primecap Management Co. CA acquired a new stake in Northern Trust during the second quarter worth approximately $1,060,553,000. Bank of New York Mellon Corp acquired a new stake in Northern Trust during the second quarter worth approximately $361,079,000. Dimensional Fund Advisors LP grew its position in Northern Trust by 1.5% during the first quarter. Dimensional Fund Advisors LP now owns 2,455,996 shares of the asset manager’s stock worth $342,744,000 after buying an additional 36,322 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its stake in Northern Trust by 2.0% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,500,961 shares of the asset manager’s stock worth $254,203,000 after acquiring an additional 29,490 shares during the period. Institutional investors and hedge funds own 83.19% of the company’s stock.

About Northern Trust

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.