Bank of America Lowers Northern Trust (NASDAQ:NTRS) Price Target to $121.00

Northern Trust (NASDAQ:NTRS - Get Free Report) had its price target dropped by research analysts at Bank of America from $123.00 to $121.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the asset manager's stock. Bank of America's price target indicates a potential upside of 44.04% from the stock's previous close.

NTRS has been the subject of several other research reports. Citigroup lowered their target price on shares of Northern Trust from $110.00 to $105.00 and set a "neutral" rating for the company in a research note on Monday, March 24th. UBS Group boosted their price objective on shares of Northern Trust from $110.00 to $114.00 and gave the company a "neutral" rating in a research report on Monday, January 27th. StockNews.com cut shares of Northern Trust from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Royal Bank of Canada upped their target price on Northern Trust from $107.00 to $115.00 and gave the company an "outperform" rating in a report on Friday, January 24th. Finally, The Goldman Sachs Group raised their price target on Northern Trust from $92.00 to $102.00 and gave the stock a "sell" rating in a report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, Northern Trust has an average rating of "Hold" and a consensus target price of $112.31.

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Northern Trust Stock Down 2.3 %

Shares of Northern Trust stock traded down $2.01 during trading hours on Wednesday, hitting $84.01. 746,254 shares of the company's stock traded hands, compared to its average volume of 1,239,038. The company has a quick ratio of 0.71, a current ratio of 0.68 and a debt-to-equity ratio of 0.58. Northern Trust has a twelve month low of $78.12 and a twelve month high of $114.67. The stock has a 50 day simple moving average of $105.63 and a 200-day simple moving average of $103.17. The company has a market cap of $16.44 billion, a PE ratio of 8.64, a PEG ratio of 1.72 and a beta of 1.10.

Northern Trust (NASDAQ:NTRS - Get Free Report) last announced its quarterly earnings data on Thursday, January 23rd. The asset manager reported $2.26 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.30. Northern Trust had a return on equity of 13.74% and a net margin of 12.77%. Equities research analysts anticipate that Northern Trust will post 8.27 earnings per share for the current fiscal year.

Insider Transactions at Northern Trust

In other news, EVP Jane Karpinski sold 2,262 shares of the business's stock in a transaction 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 sale, the executive vice president now directly owns 17,236 shares of the company's stock, valued at $1,918,883.88. The trade was a 11.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Peter Cherecwich sold 26,132 shares of the stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $112.36, for a total value of $2,936,191.52. Following the completion of the transaction, the chief operating officer now owns 26,586 shares of the company's stock, valued at $2,987,202.96. This trade represents a 49.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,335 shares of company stock valued at $3,970,211 in the last quarter. Insiders own 0.77% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in NTRS. Y.D. More Investments Ltd boosted 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 worth $26,000 after purchasing an additional 135 shares during the period. Colonial Trust Co SC grew its holdings in shares of Northern Trust by 6,400.0% during the fourth quarter. Colonial Trust Co SC now owns 260 shares of the asset manager's stock valued at $27,000 after buying an additional 256 shares in the last quarter. Empirical Asset Management LLC acquired a new position in Northern Trust during the fourth quarter valued at $33,000. Brooklyn Investment Group lifted its stake in Northern Trust by 51.2% in the 4th quarter. Brooklyn Investment Group now owns 378 shares of the asset manager's stock worth $39,000 after acquiring an additional 128 shares in the last quarter. Finally, Assetmark Inc. boosted its position in Northern Trust by 528.3% during the 4th quarter. Assetmark Inc. now owns 377 shares of the asset manager's stock worth $39,000 after acquiring an additional 317 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, 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.