Northern Trust (NASDAQ:NTRS) Given New $179.50 Price Target at JPMorgan Chase & Co.

Northern Trust (NASDAQ:NTRS) had its price objective boosted by research analysts at JPMorgan Chase & Co. from $170.00 to $179.50 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the asset manager’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 0.57% from the stock’s previous close.

NTRS has been the topic of a number of other research reports. Morgan Stanley increased their price objective on shares of Northern Trust from $157.00 to $170.00 and gave the stock an “underweight” rating in a report on Monday, June 29th. Zacks Research upgraded shares of Northern Trust from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. BMO Capital Markets upgraded shares of Northern Trust from a “market perform” rating to an “outperform” rating and set a $168.00 price target on the stock in a research note on Monday, April 6th. The Goldman Sachs Group lifted their price target on Northern Trust from $151.00 to $169.00 and gave the company a “neutral” rating in a report on Wednesday, April 22nd. Finally, Weiss Ratings upgraded Northern Trust from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $171.42.

Northern Trust Stock Up 1.1%

Shares of Northern Trust stock opened at $178.48 on Monday. The stock has a market capitalization of $33.03 billion, a price-to-earnings ratio of 18.48, a PEG ratio of 1.20 and a beta of 1.25. Northern Trust has a twelve month low of $118.99 and a twelve month high of $178.70. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.51. The business’s 50 day simple moving average is $168.93 and its 200-day simple moving average is $153.33.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings data on Tuesday, April 21st. The asset manager reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.37 by $0.34. Northern Trust had a return on equity of 15.94% and a net margin of 12.84%.The business had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the previous year, the firm posted $1.90 EPS. The business’s revenue for the quarter was up 13.8% compared to the same quarter last year. Equities research analysts forecast that Northern Trust will post 11.21 earnings per share for the current year.

Insider Transactions at Northern Trust

In other news, Director Robert Edward Jr. Moritz bought 225 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The shares were purchased at an average price of $166.41 per share, with a total value of $37,442.25. Following the completion of the acquisition, the director directly owned 8,145 shares in the company, valued at approximately $1,355,409.45. This trade represents a 2.84% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Clive Bellows sold 2,800 shares of the company’s stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $165.02, for a total value of $462,056.00. Following the completion of the sale, the insider owned 28,217 shares of the company’s stock, valued at $4,656,369.34. This trade represents a 9.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 22,800 shares of company stock valued at $3,785,251. Company insiders own 0.66% of the company’s stock.

Institutional Trading of Northern Trust

Institutional investors have recently modified their holdings of the company. Triumph Capital Management acquired a new position in Northern Trust in the third quarter worth approximately $25,000. Reflection Asset Management bought a new stake in shares of Northern Trust during the 4th quarter worth $25,000. Board of the Pension Protection Fund bought a new stake in shares of Northern Trust during the 4th quarter worth $27,000. Basecamp Wealth Advisors LLC grew its holdings in shares of Northern Trust by 99.0% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 203 shares of the asset manager’s stock worth $28,000 after acquiring an additional 101 shares during the last quarter. Finally, Elyxium Wealth LLC acquired a new stake in shares of Northern Trust during the fourth quarter worth $34,000. Institutional investors and hedge funds own 83.19% of the company’s stock.

About Northern Trust

Northern Trust Corporation (NASDAQ: NTRS) is a global financial services firm headquartered in Chicago that provides asset servicing, asset management and wealth management solutions to institutions, corporations and high-net-worth individuals. The company’s core businesses include custody and fund administration, investment operations outsourcing, trust and fiduciary services, private banking, and retirement and defined contribution plan services.

Northern Trust’s product and service offerings span custody and fund accounting, portfolio and performance analytics, securities lending, cash management and foreign exchange, as well as discretionary and non-discretionary investment management.