Wells Fargo & Company Issues Pessimistic Forecast for Northern Trust (NASDAQ:NTRS) Stock Price

Northern Trust (NASDAQ:NTRS) had its price target lowered by investment analysts at Wells Fargo & Company from $119.00 to $118.00 in a report released on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the asset manager’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 19.67% from the stock’s previous close.

Several other research analysts also recently commented on the stock. StockNews.com downgraded shares of Northern Trust from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Morgan Stanley dropped their price target on Northern Trust from $138.00 to $136.00 and set an “equal weight” rating for the company in a research report on Thursday, March 6th. Royal Bank of Canada upped their price objective on shares of Northern Trust from $107.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, January 24th. Barclays raised their price objective on shares of Northern Trust from $115.00 to $118.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. Finally, Citigroup dropped their price target on Northern Trust from $110.00 to $105.00 and set a “neutral” rating for the company in a research note on Monday. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $113.46.

Northern Trust Stock Performance

Northern Trust stock traded down $1.94 during mid-day trading on Friday, reaching $98.61. The company’s stock had a trading volume of 30,651 shares, compared to its average volume of 1,171,674. 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 has a 12-month low of $79.32 and a 12-month high of $114.67. The company has a market capitalization of $19.30 billion, a P/E ratio of 10.09, a PEG ratio of 1.72 and a beta of 1.07. The firm’s fifty day moving average price is $107.23 and its two-hundred day moving average price is $102.71.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings results on Thursday, January 23rd. The asset manager reported $2.26 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.30. Northern Trust had a return on equity of 13.74% and a net margin of 12.77%. Sell-side analysts predict that Northern Trust will post 8.27 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Thomas A. South sold 3,804 shares of the firm’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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Peter Cherecwich sold 26,132 shares of the business’s stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $112.36, for a total value of $2,936,191.52. Following the sale, the chief operating officer now directly owns 26,586 shares of the company’s stock, valued at $2,987,202.96. This represents a 49.57 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 35,335 shares of company stock worth $3,970,211. Company insiders own 0.64% of the company’s stock.

Hedge Funds Weigh In On Northern Trust

Hedge funds have recently made changes to their positions in the business. Pathstone Holdings LLC boosted its position in shares of Northern Trust by 2.6% during the third quarter. Pathstone Holdings LLC now owns 15,936 shares of the asset manager’s stock worth $1,437,000 after acquiring an additional 402 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in Northern Trust by 11.1% during the third quarter. Daiwa Securities Group Inc. now owns 24,668 shares of the asset manager’s stock valued at $2,221,000 after purchasing an additional 2,474 shares in the last quarter. Bank of Montreal Can lifted its holdings in shares of Northern Trust by 34.9% in the 3rd quarter. Bank of Montreal Can now owns 283,690 shares of the asset manager’s stock valued at $25,552,000 after acquiring an additional 73,327 shares during the last quarter. BNP Paribas Financial Markets increased its stake in Northern Trust by 0.9% during the third quarter. BNP Paribas Financial Markets now owns 257,997 shares of the asset manager’s stock worth $23,227,000 after acquiring an additional 2,283 shares during the last quarter. Finally, Bridgewater Associates LP increased its stake in Northern Trust by 294.2% during the third quarter. Bridgewater Associates LP now owns 18,648 shares of the asset manager’s stock worth $1,679,000 after acquiring an additional 13,918 shares during the last quarter. Institutional investors own 83.19% of the company’s stock.

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.