Northern Trust (NASDAQ:NTRS) Price Target Cut to $118.00 by Analysts at Wells Fargo & Company

Northern Trust (NASDAQ:NTRS) had its price target reduced by research analysts at Wells Fargo & Company from $119.00 to $118.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the asset manager’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 27.44% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on the stock. Truist Financial upped their price objective on shares of Northern Trust from $110.00 to $116.00 and gave the company a “hold” rating in a research note on Friday, January 24th. Keefe, Bruyette & Woods lifted their price objective on Northern Trust from $113.00 to $122.00 and gave the company a “market perform” rating in a research report on Friday, January 24th. Royal Bank of Canada lifted their price objective on Northern Trust from $107.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, January 24th. The Goldman Sachs Group increased their price objective on shares of Northern Trust from $92.00 to $102.00 and gave the stock a “sell” rating in a research note on Friday, January 24th. Finally, StockNews.com downgraded Northern Trust from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $113.69.

Northern Trust Trading Down 6.2 %

NASDAQ:NTRS traded down $6.14 on Friday, reaching $92.59. 898,854 shares of the stock traded hands, compared to its average volume of 1,230,694. The company’s 50 day moving average is $106.51 and its 200-day moving average is $103.11. The firm has a market capitalization of $18.12 billion, a price-to-earnings ratio of 9.47, a price-to-earnings-growth ratio of 1.72 and a beta of 1.07. Northern Trust has a 1-year low of $79.32 and a 1-year high of $114.67. The company has a current ratio of 0.68, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings results on Thursday, January 23rd. The asset manager reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $1.96 by $0.30. Northern Trust had a return on equity of 13.74% and a net margin of 12.77%. Equities research analysts anticipate that Northern Trust will post 8.27 EPS for the current fiscal year.

Insider Buying and Selling at Northern Trust

In related news, EVP Thomas A. South sold 3,804 shares of Northern Trust stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $113.00, for a total transaction of $429,852.00. Following the transaction, the executive vice president now owns 81,794 shares in the company, valued at approximately $9,242,722. This trade represents a 4.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Peter Cherecwich sold 26,132 shares of Northern Trust stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $112.36, for a total transaction of $2,936,191.52. Following the sale, the chief operating officer now directly owns 26,586 shares in the company, valued at approximately $2,987,202.96. The trade was a 49.57 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,335 shares of company stock valued at $3,970,211. 0.77% of the stock is owned by company insiders.

Institutional Trading of Northern Trust

Institutional investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System lifted its stake in Northern Trust by 1.4% during the 4th quarter. California State Teachers Retirement System now owns 355,732 shares of the asset manager’s stock worth $36,463,000 after acquiring an additional 5,022 shares in the last quarter. 111 Capital acquired a new stake in Northern Trust during the 4th quarter worth approximately $503,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of Northern Trust by 25.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 19,800 shares of the asset manager’s stock worth $2,030,000 after acquiring an additional 3,993 shares in the last quarter. Siemens Fonds Invest GmbH purchased a new stake in shares of Northern Trust during the fourth quarter worth $1,152,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Northern Trust in the fourth quarter valued at $26,784,000. Institutional investors and hedge funds 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.