Evercore Issues Pessimistic Forecast for Northern Trust (NASDAQ:NTRS) Stock Price

Key Points

• Evercore lowered its Northern Trust price target from $183 to $179, implying 5.82% potential upside, while the broader analyst consensus remains “Hold” with a $181.03 target.
• Northern Trust shares fell 2.2% to $169.16, despite the company reporting quarterly EPS of $3.40 and revenue of $2.30 billion, both above analysts’ expectations.
• Insiders sold 22,706 shares worth approximately $3.85 million over the last quarter, while institutional investors own a substantial 83.19% of the company.

Northern Trust (NASDAQ:NTRS - Get Free Report) had its price target reduced by analysts at Evercore from $183.00 to $179.00 in a research note issued to investors on Wednesday. Evercore's price target would suggest a potential upside of 5.82% from the stock's current price.

Other analysts also recently issued reports about the stock. BMO Capital Markets cut their price target on shares of Northern Trust from $208.00 to $190.00 and set an "outperform" rating on the stock in a research report on Tuesday, October 6th. Wells Fargo & Company upped their target price on shares of Northern Trust from $189.00 to $194.00 and gave the company an "equal weight" rating in a research note on Thursday, July 23rd. Morgan Stanley increased their target price on shares of Northern Trust from $173.00 to $177.00 and gave the stock an "underweight" rating in a report on Thursday, October 22nd. Bank of America boosted their price target on shares of Northern Trust from $190.00 to $200.00 and gave the company a "buy" rating in a report on Tuesday, July 7th. Finally, Capital One Financial set a $190.00 price objective on Northern Trust in a research note on Tuesday, October 6th. Two research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $181.03.

Northern Trust Trading Down 2.2%

Northern Trust stock traded down $3.76 during trading hours on Wednesday, reaching $169.16. 1,219,679 shares of the company's stock traded hands, compared to its average volume of 1,102,797. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.65 and a current ratio of 0.61. The firm 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 firm's 50 day moving average is $175.79 and its 200-day moving average is $165.17. Northern Trust has a fifty-two week low of $121.53 and a fifty-two week high of $195.78.

Northern Trust (NASDAQ:NTRS - Get Free Report) last released its earnings results on Wednesday, October 21st. The asset manager reported $3.40 EPS for the quarter, topping analysts' consensus estimates of $2.87 by $0.53. Northern Trust had a net margin of 15.86% and a return on equity of 17.97%. The firm had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.26 billion. During the same quarter in the previous year, the business earned $2.29 EPS. The business's quarterly revenue was up 13.4% compared to the same quarter last year. On average, analysts predict that Northern Trust will post 11.95 earnings per share for the current year.

Insider Transactions at Northern Trust

In other news, EVP Susan Levy sold 16,984 shares of the firm's stock in a transaction that occurred on Friday, October 23rd. The shares were sold at an average price of $168.15, for a total transaction of $2,855,859.60. Following the completion of the transaction, the executive vice president directly owned 59,378 shares of the company's stock, valued at $9,984,410.70. This trade represents a 22.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 shares were sold at an average price of $184.90, for a total transaction of $332,820.00. Following the completion of the sale, the executive vice president owned 92,917 shares in the company, valued at $17,180,353.30. This trade represents a 1.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 22,706 shares of company stock valued at $3,850,282. 0.66% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in Northern Trust during the second quarter worth about $2,523,781,000. Primecap Management Co. CA bought a new position in Northern Trust in the second quarter valued at approximately $1,060,553,000. Bank of New York Mellon Corp bought a new position in Northern Trust in the second quarter valued at approximately $361,079,000. Legal & General Group Plc acquired a new position in shares of Northern Trust during the 2nd quarter worth approximately $207,054,000. Finally, Man Group plc bought a new position in shares of Northern Trust in the second quarter valued at $147,718,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.