BMO Capital Markets Issues Pessimistic Forecast for Northern Trust (NASDAQ:NTRS) Stock Price

Key Points

• BMO Capital Markets lowered Northern Trust’s price target from $208 to $190 while maintaining an “outperform” rating, implying approximately 11.33% upside from the stock’s $170.67 price.
• Analyst sentiment is mixed: Northern Trust has a consensus “Hold” rating from 15 analysts, with an average price target of $183.50.
• The company reported strong quarterly results, earning $4.23 per share versus the $2.71 consensus estimate, while revenue rose 35.1% year over year to $2.71 billion.

Northern Trust (NASDAQ:NTRS - Get Free Report) had its price target dropped by stock analysts at BMO Capital Markets from $208.00 to $190.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has an "outperform" rating on the asset manager's stock. BMO Capital Markets' price objective would indicate a potential upside of 11.33% from the stock's current price.

NTRS has been the subject of several other reports. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Northern Trust in a report on Friday, July 31st. Keefe, Bruyette & Woods increased their target price on Northern Trust from $157.00 to $175.00 and gave the stock an "underperform" rating in a report on Thursday, July 9th. Evercore set a $183.00 price target on Northern Trust in a research note on Thursday. Barclays upped their price objective on shares of Northern Trust from $176.00 to $189.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 23rd. Finally, Royal Bank Of Canada cut shares of Northern Trust from an "outperform" rating to a "sector perform" rating and set a $178.00 target price for the company. in a research report on Wednesday, July 22nd. Four investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Northern Trust presently has a consensus rating of "Hold" and an average price target of $183.50.

Northern Trust Stock Performance

NASDAQ NTRS opened at $170.67 on Tuesday. The firm has a 50-day moving average price of $182.29 and a two-hundred day moving average price of $171.24. Northern Trust has a 12-month low of $121.12 and a 12-month high of $195.78. The company has a market capitalization of $31.23 billion, a P/E ratio of 14.65, a P/E/G ratio of 0.96 and a beta of 1.24. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.43.

Northern Trust (NASDAQ:NTRS - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The asset manager reported $4.23 earnings per share for the quarter, beating analysts' consensus estimates of $2.71 by $1.52. The company had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.69 billion. Northern Trust had a net margin of 14.76% and a return on equity of 16.91%. The firm's quarterly revenue was up 35.1% on a year-over-year basis. During the same period in the previous year, the business earned $2.13 earnings per share. Analysts anticipate that Northern Trust will post 11.61 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Robert Moritz, Jr. purchased 255 shares of the company's stock in a transaction dated Wednesday, July 29th. The shares were purchased at an average price of $179.57 per share, for a total transaction of $45,790.35. Following the transaction, the director owned 8,400 shares of the company's stock, valued at approximately $1,508,388. This trade represents a 3.13% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Thomas South sold 1,800 shares of the stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $184.90, for a total value of $332,820.00. Following the sale, the executive vice president 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. Insiders own 0.66% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Versant Capital Management Inc grew its holdings in 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 in the last quarter. QRG Capital Management Inc. increased its stake in Northern Trust by 3.8% in the 2nd quarter. QRG Capital Management Inc. now owns 14,181 shares of the asset manager's stock valued at $2,465,000 after buying an additional 520 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Northern Trust by 15.6% in the 2nd 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 during the last quarter. Sequoia Financial Advisors LLC lifted its holdings in Northern Trust by 5.3% during the second quarter. Sequoia Financial Advisors LLC now owns 22,309 shares of the asset manager's stock worth $3,878,000 after acquiring an additional 1,121 shares during the period. Finally, Tidal Investments LLC grew its stake in Northern Trust by 9.6% in the 2nd quarter. Tidal Investments LLC now owns 9,353 shares of the asset manager's stock valued at $1,626,000 after purchasing an additional 821 shares during the period. Institutional investors and hedge funds own 83.19% of the company's stock.

About Northern Trust

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.

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