Bank of America Issues Pessimistic Forecast for Northern Trust (NASDAQ:NTRS) Stock Price

Northern Trust (NASDAQ:NTRS) had its price objective lowered by equities researchers at Bank of America from $123.00 to $121.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the asset manager’s stock. Bank of America‘s price target suggests a potential upside of 23.53% from the company’s current price.

A number of other brokerages also recently issued reports on NTRS. Keefe, Bruyette & Woods lifted their price target on Northern Trust from $113.00 to $122.00 and gave the company a “market perform” rating in a report on Friday, January 24th. The Goldman Sachs Group boosted their target price on shares of Northern Trust from $92.00 to $102.00 and gave the stock a “sell” rating in a report on Friday, January 24th. Barclays lifted their price objective on shares of Northern Trust from $115.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Monday, January 6th. Wells Fargo & Company dropped their target price on Northern Trust from $119.00 to $118.00 and set an “equal weight” rating on the stock in a research note on Friday, March 28th. Finally, Evercore ISI cut their price target on shares of Northern Trust from $113.00 to $104.00 and set an “in-line” rating on the stock in a research note on Tuesday. One analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $114.00.

Northern Trust Stock Performance

Shares of Northern Trust stock opened at $97.95 on Wednesday. Northern Trust has a 12 month low of $79.32 and a 12 month high of $114.67. The stock’s fifty day moving average price is $106.68 and its 200-day moving average price is $103.14. The firm has a market cap of $19.17 billion, a P/E ratio of 10.02, a P/E/G ratio of 1.72 and a beta of 1.07. 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 announced its quarterly earnings results on Thursday, January 23rd. The asset manager reported $2.26 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.30. Northern Trust had a net margin of 12.77% and a return on equity of 13.74%. On average, equities research analysts expect that Northern Trust will post 8.27 earnings per share for the current fiscal year.

Insider Activity at Northern Trust

In other news, EVP Jane Karpinski sold 2,262 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $111.33, for a total transaction of $251,828.46. Following the transaction, the executive vice president now owns 17,236 shares in the company, valued at $1,918,883.88. This trade represents a 11.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Thomas A. South sold 3,804 shares of Northern Trust stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $113.00, for a total transaction of $429,852.00. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 35,335 shares of company stock worth $3,970,211 in the last three months. Company insiders own 0.77% of the company’s stock.

Hedge Funds Weigh In On Northern Trust

A number of hedge funds have recently made changes to their positions in NTRS. Y.D. More Investments Ltd raised its stake in Northern Trust by 118.4% in the 4th quarter. Y.D. More Investments Ltd now owns 249 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 135 shares during the last quarter. Colonial Trust Co SC lifted its stake in shares of Northern Trust by 6,400.0% in the fourth quarter. Colonial Trust Co SC now owns 260 shares of the asset manager’s stock worth $27,000 after buying an additional 256 shares in the last quarter. Assetmark Inc. boosted its position in Northern Trust by 528.3% during the fourth quarter. Assetmark Inc. now owns 377 shares of the asset manager’s stock worth $39,000 after acquiring an additional 317 shares during the last quarter. Brooklyn Investment Group grew its stake in Northern Trust by 51.2% during the 4th quarter. Brooklyn Investment Group now owns 378 shares of the asset manager’s stock valued at $39,000 after acquiring an additional 128 shares in the last quarter. Finally, True Wealth Design LLC raised its holdings in Northern Trust by 84.0% in the 4th quarter. True Wealth Design LLC now owns 425 shares of the asset manager’s stock valued at $44,000 after acquiring an additional 194 shares during the last quarter. Institutional investors and hedge funds own 83.19% of the company’s stock.

Northern Trust Company Profile

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.