Northern Trust (NASDAQ:NTRS) Price Target Lowered to $121.00 at Bank of America

Northern Trust (NASDAQ:NTRS) had its price objective lowered by Bank of America from $123.00 to $121.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the asset manager’s stock. Bank of America‘s price objective indicates a potential upside of 33.58% from the company’s previous close.

A number of other equities research analysts also recently commented on NTRS. Wells Fargo & Company reduced their price objective on shares of Northern Trust from $119.00 to $118.00 and set an “equal weight” rating for the company in a research report on Friday, March 28th. Keefe, Bruyette & Woods increased their target price on Northern Trust from $113.00 to $122.00 and gave the stock a “market perform” rating in a research note on Friday, January 24th. Barclays lifted their price target on Northern Trust from $115.00 to $118.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Citigroup cut their price objective on 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, UBS Group raised their target price on Northern Trust from $110.00 to $114.00 and gave the company a “neutral” rating in a report on Monday, January 27th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, Northern Trust currently has an average rating of “Hold” and an average price target of $113.69.

Northern Trust Price Performance

Northern Trust stock opened at $90.58 on Wednesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.68 and a quick ratio of 0.71. The business has a 50 day simple moving average of $106.13 and a 200-day simple moving average of $103.02. Northern Trust has a 12 month low of $79.32 and a 12 month high of $114.67. The stock has a market capitalization of $17.73 billion, a PE ratio of 9.26, a price-to-earnings-growth ratio of 1.72 and a beta of 1.07.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings data on Thursday, January 23rd. The asset manager reported $2.26 EPS 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%. Equities analysts predict that Northern Trust will post 8.27 earnings per share for the current year.

Insiders Place Their Bets

In other Northern Trust news, EVP Jane Karpinski sold 2,262 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $111.33, for a total transaction of $251,828.46. Following the completion of the transaction, the executive vice president now owns 17,236 shares of the company’s stock, valued at approximately $1,918,883.88. This trade represents a 11.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Thomas A. South sold 3,804 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $113.00, for a total value of $429,852.00. Following the completion of the transaction, the executive vice president now directly owns 81,794 shares of the company’s stock, valued at approximately $9,242,722. This trade represents a 4.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,335 shares of company stock worth $3,970,211. Insiders own 0.77% of the company’s stock.

Institutional Investors Weigh In On Northern Trust

Hedge funds have recently modified their holdings of the company. Y.D. More Investments Ltd raised its position in shares of Northern Trust by 118.4% in the fourth quarter. Y.D. More Investments Ltd now owns 249 shares of the asset manager’s stock valued at $26,000 after buying an additional 135 shares during the last quarter. Colonial Trust Co SC boosted its position in Northern Trust by 6,400.0% during the fourth quarter. Colonial Trust Co SC now owns 260 shares of the asset manager’s stock worth $27,000 after acquiring an additional 256 shares during the last quarter. Empirical Asset Management LLC purchased a new stake in Northern Trust in the 4th quarter worth approximately $33,000. Brooklyn Investment Group raised its holdings in Northern Trust by 51.2% in the 4th quarter. Brooklyn Investment Group now owns 378 shares of the asset manager’s stock valued at $39,000 after acquiring an additional 128 shares during the last quarter. Finally, Assetmark Inc. lifted its stake in shares of Northern Trust by 528.3% during the 4th quarter. Assetmark Inc. now owns 377 shares of the asset manager’s stock worth $39,000 after purchasing an additional 317 shares during the period. 83.19% of the stock is owned by institutional investors and hedge funds.

Northern Trust Company Profile

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.