Evercore ISI Cuts Northern Trust (NASDAQ:NTRS) Price Target to $104.00

Northern Trust (NASDAQ:NTRS) had its price target cut by equities research analysts at Evercore ISI from $113.00 to $104.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “in-line” rating on the asset manager’s stock. Evercore ISI’s target price would indicate a potential upside of 5.34% from the stock’s current price.

Several other equities research analysts have also recently commented on the company. Royal Bank of Canada increased their price objective on Northern Trust from $107.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, January 24th. The Goldman Sachs Group raised their price target on shares of Northern Trust from $92.00 to $102.00 and gave the company a “sell” rating in a report on Friday, January 24th. UBS Group boosted their price objective on shares of Northern Trust from $110.00 to $114.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Citigroup cut their target price on shares of Northern Trust from $110.00 to $105.00 and set a “neutral” rating for the company in a research report on Monday, March 24th. Finally, Wells Fargo & Company lowered their price target on Northern Trust from $119.00 to $118.00 and set an “equal weight” rating on the stock in a report on Friday, March 28th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $113.69.

Northern Trust Stock Up 0.8 %

Shares of Northern Trust stock opened at $98.73 on Tuesday. The company has a 50-day simple moving average of $106.51 and a two-hundred day simple moving average of $103.11. The stock has a market capitalization of $19.32 billion, a PE ratio of 10.10, a price-to-earnings-growth ratio of 1.72 and a beta of 1.07. Northern Trust has a 52-week low of $79.32 and a 52-week high of $114.67. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.68.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings data on Thursday, January 23rd. The asset manager reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.96 by $0.30. Northern Trust had a net margin of 12.77% and a return on equity of 13.74%. On average, analysts anticipate that Northern Trust will post 8.27 EPS for the current fiscal year.

Insider Activity

In other Northern Trust news, insider John Landers sold 900 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $111.44, for a total value of $100,296.00. Following the completion of the transaction, the insider now directly owns 7,640 shares in the company, valued at $851,401.60. This represents a 10.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jason J. Tyler sold 2,237 shares of the stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $112.67, for a total transaction of $252,042.79. Following the sale, the insider now directly owns 58,449 shares of the company’s stock, valued at approximately $6,585,448.83. This trade represents a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,335 shares of company stock worth $3,970,211 in the last three months. Company insiders own 0.77% of the company’s stock.

Institutional Investors Weigh In On Northern Trust

A number of hedge funds have recently made changes to their positions in the company. Y.D. More Investments Ltd increased its stake in Northern Trust by 118.4% in the 4th quarter. Y.D. More Investments Ltd now owns 249 shares of the asset manager’s stock worth $26,000 after acquiring an additional 135 shares during the last quarter. Colonial Trust Co SC increased its position in Northern Trust by 6,400.0% in the fourth quarter. Colonial Trust Co SC now owns 260 shares of the asset manager’s stock worth $27,000 after purchasing an additional 256 shares during the last quarter. Assetmark Inc. raised its stake in Northern Trust by 528.3% during the fourth quarter. Assetmark Inc. now owns 377 shares of the asset manager’s stock valued at $39,000 after purchasing an additional 317 shares in the last quarter. Brooklyn Investment Group lifted its position in Northern Trust by 51.2% during the fourth quarter. Brooklyn Investment Group now owns 378 shares of the asset manager’s stock valued at $39,000 after purchasing an additional 128 shares during the last quarter. Finally, True Wealth Design LLC grew its stake in shares of Northern Trust by 84.0% in the 4th quarter. True Wealth Design LLC now owns 425 shares of the asset manager’s stock worth $44,000 after buying an additional 194 shares in the last quarter. 83.19% of the stock is currently owned by hedge funds and other institutional investors.

About Northern Trust

Northern Trust Corporation, a financial holding company, provides wealth management, asset servicing, asset management, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates in two segments, Asset Servicing and Wealth Management. The Asset Servicing segment offers asset servicing and related services, including custody, fund administration, investment operations outsourcing, investment management, investment risk and analytical services, employee benefit services, securities lending, foreign exchange, treasury management, brokerage services, transition management services, banking, and cash management services.