BMO Capital Markets Has Lowered Expectations for Northern Trust (NASDAQ:NTRS) Stock Price

Northern Trust (NASDAQ:NTRS) had its target price dropped by analysts at BMO Capital Markets from $208.00 to $190.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on the asset manager’s stock. BMO Capital Markets’ target price suggests a potential upside of 12.97% from the company’s previous close.

Other equities analysts have also recently issued reports about the stock. Bank of America lifted their price target on shares of Northern Trust from $190.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. Keefe, Bruyette & Woods upped their price objective on shares of Northern Trust from $157.00 to $175.00 and gave the company an “underperform” rating in a research report on Thursday, July 9th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Northern Trust in a research note on Friday, July 31st. Evercore set a $183.00 price objective on Northern Trust in a research note on Thursday, October 1st. Finally, Royal Bank Of Canada lowered Northern Trust from an “outperform” rating to a “sector perform” rating and set a $178.00 target price on the stock. in a report on Wednesday, July 22nd. Four research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $183.93.

Northern Trust Stock Performance

Shares of NTRS stock opened at $168.18 on Tuesday. The stock has a market cap of $30.77 billion, a PE ratio of 14.44, a price-to-earnings-growth ratio of 0.96 and a beta of 1.24. The stock has a 50-day moving average of $181.87 and a 200-day moving average of $171.71. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.65 and a quick ratio of 0.65. Northern Trust has a one year low of $121.12 and a one year high of $195.78.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings data on Wednesday, July 22nd. The asset manager reported $4.23 earnings per share for the quarter, topping the consensus estimate of $2.71 by $1.52. The business had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.69 billion. Northern Trust had a net margin of 14.76% and a return on equity of 16.91%. Northern Trust’s quarterly revenue was up 35.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.13 EPS. As a group, sell-side analysts expect that Northern Trust will post 11.64 earnings per share for the current year.

Insider Activity at Northern Trust

In related news, Director Robert Moritz, Jr. acquired 255 shares of the business’s stock in a transaction that occurred on Wednesday, July 29th. The shares were acquired at an average cost of $179.57 per share, with a total value of $45,790.35. Following the transaction, the director owned 8,400 shares of the company’s stock, valued at $1,508,388. The trade was a 3.13% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Thomas South sold 1,800 shares of the company’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $184.90, for a total transaction of $332,820.00. Following the completion of the transaction, the executive vice president directly owned 92,917 shares of the company’s stock, valued at approximately $17,180,353.30. The trade was a 1.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.66% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Northern Trust

Large investors have recently added to or reduced their stakes in the company. Elevation Wealth Partners LLC raised its stake in shares of Northern Trust by 97.5% in the 3rd quarter. Elevation Wealth Partners LLC now owns 239 shares of the asset manager’s stock valued at $40,000 after purchasing an additional 118 shares during the period. Elm3 Financial Group LLC acquired a new position in shares of Northern Trust during the third quarter worth about $518,000. Versant Capital Management Inc boosted its position in shares of Northern Trust by 2.1% during the third quarter. Versant Capital Management Inc now owns 3,379 shares of the asset manager’s stock worth $572,000 after buying an additional 70 shares during the period. QRG Capital Management Inc. grew its holdings in shares of Northern Trust by 3.8% during the second quarter. QRG Capital Management Inc. now owns 14,181 shares of the asset manager’s stock worth $2,465,000 after buying an additional 520 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. grew its holdings in shares of Northern Trust by 15.6% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 2,053 shares of the asset manager’s stock worth $357,000 after buying an additional 277 shares in the last quarter. Institutional investors own 83.19% of the company’s stock.

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.