Northern Trust (NASDAQ:NTRS) Stock Gets Price Target Trim from Citigroup

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

Several other analysts have also weighed in on NTRS. Morgan Stanley upped their target price on Northern Trust from $173.00 to $177.00 and gave the company an “underweight” rating in a report on Thursday. 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 research note on Tuesday, October 6th. Evercore set a $183.00 price objective on shares of Northern Trust in a research report on Thursday, October 1st. Wells Fargo & Company increased their price objective on shares of Northern Trust from $189.00 to $194.00 and gave the company an “equal weight” rating in a research note on Thursday, July 23rd. Finally, TD Cowen assumed coverage on shares of Northern Trust in a report on Thursday, October 8th. They set a “hold” rating and a $175.00 target price for the company. Three equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Northern Trust currently has a consensus rating of “Hold” and a consensus target price of $183.47.

Northern Trust Price Performance

Shares of NASDAQ:NTRS traded up $2.63 during trading on Friday, hitting $168.46. 661,789 shares of the stock were exchanged, compared to its average volume of 1,099,639. The company has a market cap of $30.82 billion, a PE ratio of 14.46, a P/E/G ratio of 0.95 and a beta of 1.24. The company has a current ratio of 0.61, a quick ratio of 0.65 and a debt-to-equity ratio of 0.43. The company has a fifty day moving average price of $177.64 and a two-hundred day moving average price of $173.84. Northern Trust has a 12-month low of $121.53 and a 12-month high of $195.78.

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

Insiders Place Their Bets

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

Institutional Investors Weigh In On Northern Trust

Several hedge funds have recently modified their holdings of NTRS. Continuum Advisory LLC acquired a new position in shares of Northern Trust in the second quarter valued at approximately $26,000. NBH Bank purchased a new position in shares of Northern Trust during the second quarter valued at approximately $30,000. Keating Financial Advisory Services Inc. acquired a new stake in Northern Trust during the second quarter worth approximately $31,000. Basecamp Wealth Advisors LLC boosted its position in Northern Trust by 99.0% during the first 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, Clearstead Trust LLC purchased a new stake in Northern Trust in the 2nd quarter worth approximately $37,000. 83.19% of the stock is owned by institutional investors and hedge funds.

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.