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

Northern Trust (NASDAQ:NTRS) had its target price increased by equities researchers at JPMorgan Chase & Co. from $185.00 to $191.50 in a research report issued on Friday. The firm presently has a “neutral” rating on the asset manager’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 13.21% from the company’s previous close.

A number of other research analysts have also recently commented on the company. Evercore set a $183.00 price target on Northern Trust in a research report on Thursday, October 1st. Keefe, Bruyette & Woods lifted their price target on Northern Trust from $157.00 to $175.00 and gave the company an “underperform” rating in a research note on Thursday, July 9th. Citigroup dropped their target price on Northern Trust from $186.00 to $170.00 and set a “neutral” rating for the company in a research report on Friday, October 23rd. Wells Fargo & Company increased their target price on shares of Northern Trust from $189.00 to $194.00 and gave the company an “equal weight” rating in a research report on Thursday, July 23rd. Finally, BMO Capital Markets decreased their target price 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. Two equities research analysts have rated the stock with a Buy rating, eleven have given 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 an average target price of $181.03.

Northern Trust Stock Performance

Northern Trust stock traded down $3.76 during midday trading on Friday, hitting $169.16. The company’s stock had a trading volume of 1,219,679 shares, compared to its average volume of 1,102,797. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.61 and a quick ratio of 0.65. The company has a market cap of $30.95 billion, a price-to-earnings ratio of 13.26, a PEG ratio of 0.88 and a beta of 1.24. Northern Trust has a 1-year low of $121.53 and a 1-year high of $195.78. The company has a 50-day moving average price of $175.79 and a two-hundred day moving average price of $165.17.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings results on Wednesday, October 21st. The asset manager reported $3.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.87 by $0.53. Northern Trust had a return on equity of 17.97% and a net margin of 15.86%. The business had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.26 billion. During the same period in the previous year, the company posted $2.29 earnings per share. The firm’s revenue for the quarter was up 13.4% compared to the same quarter last year. As a group, sell-side analysts predict that Northern Trust will post 11.95 earnings per share for the current year.

Insider Activity at Northern Trust

In other news, EVP Thomas A. South sold 1,800 shares of the company’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $184.90, for a total transaction of $332,820.00. Following the completion of the sale, the executive vice president owned 92,917 shares of the company’s stock, valued at $17,180,353.30. This represents a 1.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Susan Levy sold 3,922 shares of the stock in a transaction that occurred on Monday, October 26th. The stock was sold at an average price of $168.69, for a total value of $661,602.18. Following the completion of the transaction, the executive vice president owned 59,378 shares of the company’s stock, valued at $10,016,474.82. The trade was a 6.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 22,706 shares of company stock worth $3,850,282. 0.66% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Northern Trust

Several institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in Northern Trust in the 2nd quarter valued at $2,523,781,000. Primecap Management Co. CA acquired a new stake in shares of Northern Trust in the 2nd quarter valued at $1,060,553,000. Bank of New York Mellon Corp acquired a new stake in shares of Northern Trust during the 2nd quarter worth about $361,079,000. 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 buying an additional 36,322 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its position in shares of Northern Trust by 2.0% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,500,961 shares of the asset manager’s stock valued at $254,203,000 after buying an additional 29,490 shares during the last quarter. Institutional investors and hedge funds own 83.19% of the company’s stock.

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.