JPMorgan Chase & Co. Issues Positive Forecast for Northern Trust (NASDAQ:NTRS) Stock Price

Key Points

• JPMorgan raised Northern Trust’s price target to $185.50 from $179.50 while maintaining a “neutral” rating, implying approximately 1% upside from the prior close.
• Analyst sentiment remains broadly cautious: MarketBeat reports a consensus “Hold” rating and an average price target of $180.68, despite several firms recently increasing their targets.
• Northern Trust shares traded at $183.59, near their 52-week high of $191.60, while institutional investors owned approximately 83.19% of the company.

Northern Trust (NASDAQ:NTRS - Get Free Report) had its target price increased by equities research analysts at JPMorgan Chase & Co. from $179.50 to $185.50 in a research note issued on Tuesday,Benzinga reports. The firm presently has a "neutral" rating on the asset manager's stock. JPMorgan Chase & Co.'s price objective points to a potential upside of 1.04% from the stock's previous close.

A number of other research analysts have also weighed in on NTRS. Barclays boosted their target price on Northern Trust from $176.00 to $189.00 and gave the stock an "equal weight" rating in a report on Thursday, July 23rd. Morgan Stanley upped their price objective 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. Wells Fargo & Company increased their price objective on shares of Northern Trust from $189.00 to $194.00 and gave the company an "equal weight" rating in a research report on Thursday, July 23rd. Zacks Research upgraded shares of Northern Trust from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 12th. Finally, BMO Capital Markets upgraded Northern Trust from a "market perform" rating to an "outperform" rating and set a $168.00 price objective for the company in a report on Monday, April 6th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $180.68.

Northern Trust Stock Performance

NASDAQ NTRS traded up $1.40 during trading on Tuesday, reaching $183.59. 474,311 shares of the company's stock were exchanged, compared to its average volume of 1,098,808. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.65 and a quick ratio of 0.65. The business has a 50 day moving average price of $176.59 and a 200-day moving average price of $159.52. The stock has a market capitalization of $33.59 billion, a P/E ratio of 15.75, a PEG ratio of 1.03 and a beta of 1.25. Northern Trust has a fifty-two week low of $121.12 and a fifty-two week high of $191.60.

Insiders Place Their Bets

In related news, Director Robert Edward Jr. Moritz acquired 255 shares of the company's stock in a transaction on Wednesday, July 29th. The stock was purchased at an average cost of $179.57 per share, with a total value of $45,790.35. Following the acquisition, the director directly owned 8,400 shares of the company's stock, valued at approximately $1,508,388. The trade was a 3.13% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.66% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Northern Trust

Large investors have recently bought and sold shares of the company. Empowered Funds LLC boosted its position in shares of Northern Trust by 13.3% during the 1st quarter. Empowered Funds LLC now owns 20,112 shares of the asset manager's stock worth $1,984,000 after acquiring an additional 2,363 shares in the last quarter. Woodline Partners LP raised its position in Northern Trust by 39.1% during the first quarter. Woodline Partners LP now owns 16,557 shares of the asset manager's stock valued at $1,633,000 after purchasing an additional 4,653 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Northern Trust by 79.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the asset manager's stock worth $171,000 after purchasing an additional 596 shares during the last quarter. WINTON GROUP Ltd bought a new stake in Northern Trust during the second quarter worth $267,000. Finally, Daiwa Securities Group Inc. boosted its holdings in shares of Northern Trust by 4.6% in the 2nd quarter. Daiwa Securities Group Inc. now owns 29,290 shares of the asset manager's stock valued at $3,714,000 after purchasing an additional 1,275 shares in the last quarter. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Northern Trust Company Profile

Northern Trust Corporation NASDAQ: NTRS is a global financial services firm headquartered in Chicago that provides asset servicing, asset management and wealth management solutions to institutions, corporations and high-net-worth individuals. The company's core businesses include custody and fund administration, investment operations outsourcing, trust and fiduciary services, private banking, and retirement and defined contribution plan services.

Northern Trust's product and service offerings span custody and fund accounting, portfolio and performance analytics, securities lending, cash management and foreign exchange, as well as discretionary and non-discretionary investment management.

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