Northern Trust (NASDAQ:NTRS) Stock Price Target Cut by Evercore

Northern Trust (NASDAQ:NTRS) had its target price dropped by equities research analysts at Evercore from $183.00 to $179.00 in a report released on Wednesday. Evercore‘s price target points to a potential upside of 5.82% from the company’s current price.

NTRS has been the topic of a number of other reports. Zacks Research lowered shares of Northern Trust from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 25th. Royal Bank Of Canada lowered shares of Northern Trust from an “outperform” rating to a “sector perform” rating and lifted their price target for the stock from $159.00 to $178.00 in a report on Wednesday, July 22nd. BMO Capital Markets decreased their price objective on Northern Trust from $208.00 to $190.00 and set an “outperform” rating for the company in a report on Tuesday, October 6th. Bank of America raised their target price on Northern Trust from $190.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. Finally, Capital One Financial set a $190.00 price objective on Northern Trust in a research report on Tuesday, October 6th. Two research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $181.03.

Northern Trust Price Performance

NASDAQ:NTRS traded down $3.76 on Wednesday, hitting $169.16. The company had a trading volume of 1,219,679 shares, compared to its average volume of 1,102,797. The stock has a market capitalization of $30.95 billion, a price-to-earnings ratio of 13.26, a PEG ratio of 0.88 and a beta of 1.24. The company has a current ratio of 0.61, a quick ratio of 0.65 and a debt-to-equity ratio of 0.43. The firm has a 50 day moving average of $175.79 and a two-hundred day moving average of $165.17. Northern Trust has a 52 week low of $121.53 and a 52 week high of $195.78.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings data on Wednesday, October 21st. The asset manager reported $3.40 earnings per share 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 company had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter last year, the business posted $2.29 EPS. Northern Trust’s revenue for the quarter was up 13.4% on a year-over-year basis. On average, research analysts anticipate that Northern Trust will post 11.95 earnings per share for the current year.

Insider Buying and Selling

In other Northern Trust news, EVP Susan Levy sold 3,922 shares of the stock in a transaction dated Monday, October 26th. The shares were sold at an average price of $168.69, for a total value of $661,602.18. Following the completion of the sale, the executive vice president owned 59,378 shares in the company, valued at approximately $10,016,474.82. This trade represents a 6.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Thomas South sold 1,800 shares of Northern Trust stock in a transaction that occurred 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 transaction, the executive vice president directly owned 92,917 shares in the company, valued at approximately $17,180,353.30. This represents a 1.90% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 22,706 shares of company stock valued at $3,850,282 over the last three months. Corporate insiders own 0.66% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. AIA Group Ltd lifted its stake in Northern Trust by 29.7% in the 3rd quarter. AIA Group Ltd now owns 126,198 shares of the asset manager’s stock worth $21,373,000 after purchasing an additional 28,882 shares in the last quarter. Provenance Wealth Advisors LLC grew its stake in Northern Trust by 6,433.3% in the 3rd quarter. Provenance Wealth Advisors LLC now owns 392 shares of the asset manager’s stock worth $66,000 after buying an additional 386 shares in the last quarter. Associated Banc Corp bought a new position in shares of Northern Trust in the 3rd quarter worth $3,666,000. Welch Group LLC increased its holdings in shares of Northern Trust by 6.4% in the 3rd quarter. Welch Group LLC now owns 3,355 shares of the asset manager’s stock worth $568,000 after buying an additional 202 shares during the last quarter. Finally, Austin Asset Management Co Inc purchased a new stake in shares of Northern Trust during the 3rd quarter valued at $280,000. Institutional investors 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.