Northern Trust (NASDAQ:NTRS) Given New $185.00 Price Target at JPMorgan Chase & Co.

Key Points

• JPMorgan lowered Northern Trust’s price target to $185 from $185.50 while maintaining a neutral rating, implying approximately 8% upside from the prior close.
• Analyst sentiment remains mixed but overall neutral: Northern Trust has a consensus rating of “Hold” and an average price target of $180.93.
• Northern Trust reported strong quarterly results, with EPS of $4.23 versus the $2.71 consensus estimate and revenue of $2.71 billion, up 35.1% year over year.

Northern Trust (NASDAQ:NTRS - Get Free Report) had its price objective decreased by JPMorgan Chase & Co. from $185.50 to $185.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a "neutral" rating on the asset manager's stock. JPMorgan Chase & Co.'s price target indicates a potential upside of 8.04% from the company's previous close.

Several other equities analysts have also recently issued reports on the company. Wells Fargo & Company upped their price objective on Northern Trust from $189.00 to $194.00 and gave the company an "equal weight" rating in a research report on Thursday, July 23rd. Evercore set a $183.00 price target on Northern Trust in a research note on Thursday. Royal Bank Of Canada downgraded Northern Trust from an "outperform" rating to a "sector perform" rating and set a $178.00 price target on the stock. in a report on Wednesday, July 22nd. Morgan Stanley raised their price target on shares of Northern Trust from $170.00 to $173.00 and gave the company an "underweight" rating in a report on Thursday, July 23rd. Finally, Bank of America upped their price objective on Northern Trust from $190.00 to $200.00 and gave the company a "buy" rating in a research report on Tuesday, July 7th. Four research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $180.93.

Northern Trust Stock Up 1.2%

Shares of NASDAQ NTRS traded up $2.03 during trading on Friday, reaching $171.23. The company had a trading volume of 523,027 shares, compared to its average volume of 1,080,664. Northern Trust has a 12-month low of $121.12 and a 12-month high of $195.78. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.43. The business's 50-day moving average is $182.70 and its 200 day moving average is $170.76. The stock has a market cap of $31.33 billion, a PE ratio of 14.71, a P/E/G ratio of 0.95 and a beta of 1.24.

Northern Trust (NASDAQ:NTRS - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The asset manager reported $4.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.71 by $1.52. The firm had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.69 billion. Northern Trust had a return on equity of 16.91% and a net margin of 14.76%.Northern Trust's quarterly revenue was up 35.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.13 EPS. As a group, equities analysts forecast that Northern Trust will post 11.6 earnings per share for the current fiscal year.

Insider Buying and Selling at Northern Trust

In related news, EVP Thomas A. South sold 1,800 shares of the company's stock in a transaction 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 sale, the executive vice president owned 92,917 shares of the company's stock, valued at $17,180,353.30. This represents a 1.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robert Moritz, Jr. bought 255 shares of the business's stock in a transaction dated Wednesday, July 29th. The shares were acquired at an average cost of $179.57 per share, for a total transaction of $45,790.35. Following the purchase, the director owned 8,400 shares of the company's stock, valued at approximately $1,508,388. The trade was a 3.13% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.66% of the stock is owned by insiders.

Institutional Trading of Northern Trust

A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in Northern Trust during the 2nd quarter valued at about $2,523,781,000. Primecap Management Co. CA purchased a new position in shares of Northern Trust during the second quarter worth approximately $1,060,553,000. Goldman Sachs Group Inc. raised its stake in shares of Northern Trust by 5.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,894,755 shares of the asset manager's stock valued at $395,395,000 after acquiring an additional 161,826 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Northern Trust during the second quarter valued at approximately $361,079,000. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Northern Trust by 1.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,455,996 shares of the asset manager's stock valued at $342,744,000 after purchasing an additional 36,322 shares during the period. 83.19% of the stock is owned by hedge funds and other institutional investors.

Northern Trust Company Profile

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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