Northern Trust (NASDAQ:NTRS) Stock Price Target Lowered at JPMorgan Chase & Co.

Northern Trust (NASDAQ:NTRS) had its price objective cut by equities researchers at JPMorgan Chase & Co. from $185.50 to $185.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the asset manager’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 8.04% from the company’s previous close.

Several other brokerages have also issued reports on NTRS. Bank of America lifted their price objective on shares of Northern Trust from $190.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Royal Bank Of Canada cut Northern Trust from an “outperform” rating to a “sector perform” rating and set a $178.00 target price on the stock. in a research report on Wednesday, July 22nd. Zacks Research downgraded Northern Trust from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 25th. UBS Group set a $186.00 price objective on Northern Trust in a research note on Friday, June 26th. Finally, Citigroup lifted their target price on Northern Trust from $162.00 to $172.00 and gave the company a “neutral” rating in a research note on Tuesday, June 30th. Four equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Northern Trust has an average rating of “Hold” and an average price target of $180.93.

Northern Trust Stock Up 1.2%

NASDAQ:NTRS traded up $2.03 during mid-day trading on Friday, reaching $171.23. The company’s stock had a trading volume of 523,027 shares, compared to its average volume of 1,080,664. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.43. Northern Trust has a 1 year low of $121.12 and a 1 year high of $195.78. The stock has a fifty day moving average of $182.70 and a 200-day moving average of $170.76. The firm has a market capitalization of $31.33 billion, a PE ratio of 14.71, a price-to-earnings-growth ratio of 0.95 and a beta of 1.24.

Northern Trust (NASDAQ:NTRS) last posted its earnings results on Wednesday, July 22nd. The asset manager reported $4.23 EPS for the quarter, beating analysts’ consensus estimates of $2.71 by $1.52. Northern Trust had a net margin of 14.76% and a return on equity of 16.91%. The business had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.69 billion. During the same quarter last year, the firm posted $2.13 EPS. The company’s revenue for the quarter was up 35.1% on a year-over-year basis. Equities research analysts forecast that Northern Trust will post 11.6 earnings per share for the current year.

Insider Transactions at Northern Trust

In other news, EVP Thomas South sold 1,800 shares of the company’s stock in a transaction dated Monday, August 24th. The shares were 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 represents a 1.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Robert Moritz, Jr. bought 255 shares of the stock in a transaction that occurred on Wednesday, July 29th. The stock was bought at an average price of $179.57 per share, with a total value of $45,790.35. Following the completion of the purchase, the director directly owned 8,400 shares in the company, valued at $1,508,388. This represents a 3.13% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.66% of the company’s stock.

Institutional Investors Weigh In On Northern Trust

A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. purchased a new position in Northern Trust in the 2nd quarter worth $2,523,781,000. Primecap Management Co. CA purchased a new position in shares of Northern Trust in the second quarter worth about $1,060,553,000. Goldman Sachs Group Inc. lifted its holdings in shares of Northern Trust by 5.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,894,755 shares of the asset manager’s stock worth $395,395,000 after purchasing an additional 161,826 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Northern Trust by 1.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,455,996 shares of the asset manager’s stock valued at $342,744,000 after acquiring an additional 36,322 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in Northern Trust during the second quarter valued at $361,079,000. 83.19% of the stock is owned by hedge funds and other institutional investors.

Northern Trust Company Profile

Northern Trust Corporation is a financial services company headquartered in Chicago, Illinois. Founded in 1889, the company provides wealth management, asset servicing, asset management and banking services to corporations, institutions, affluent individuals and families, and financial professionals.

Through its wealth management business, Northern Trust offers investment management, financial planning, trust and estate services, private banking, and family office solutions. Its asset servicing and banking operations support institutional investors and businesses with custody, fund administration, securities lending, foreign exchange, treasury services, capital markets, and related banking solutions.

Northern Trust serves clients through operations in the United States and international markets, including Canada, Europe, the Middle East and the Asia-Pacific region.