Northern Trust (NASDAQ:NTRS) PT Lowered to $75.00 at Royal Bank of Canada

Northern Trust (NASDAQ:NTRS) had its price objective reduced by equities researchers at Royal Bank of Canada from $85.00 to $75.00 in a note issued to investors on Tuesday, FlyOnTheWall reports. Royal Bank of Canada’s target price would indicate a potential upside of 4.52% from the company’s current price.

Other equities analysts have also recently issued reports about the company. UBS Group cut Northern Trust from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $100.00 to $80.00 in a report on Monday, July 10th. StockNews.com assumed coverage on Northern Trust in a report on Thursday, August 17th. They set a “sell” rating for the company. Citigroup lowered their price target on Northern Trust from $78.00 to $75.00 in a report on Tuesday, June 13th. Barclays lowered their price target on Northern Trust from $107.00 to $94.00 in a report on Tuesday, June 27th. Finally, Wells Fargo & Company lowered their target price on Northern Trust from $100.00 to $90.00 and set an “overweight” rating for the company in a report on Tuesday, September 12th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $86.35.

Northern Trust Stock Down 1.3 %

Shares of NTRS opened at $71.76 on Tuesday. Northern Trust has a 52-week low of $69.54 and a 52-week high of $100.25. The company has a market capitalization of $14.85 billion, a PE ratio of 12.86, a price-to-earnings-growth ratio of 4.94 and a beta of 1.08. The stock has a fifty day simple moving average of $76.84 and a two-hundred day simple moving average of $78.32. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.45.

Northern Trust (NASDAQ:NTRS) last issued its earnings results on Wednesday, July 19th. The asset manager reported $1.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.06). The company had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.77 billion. Northern Trust had a return on equity of 13.96% and a net margin of 12.36%. The firm’s revenue was down .5% compared to the same quarter last year. During the same period last year, the business earned $1.86 earnings per share. As a group, equities analysts forecast that Northern Trust will post 6.46 EPS for the current year.

Institutional Investors Weigh In On Northern Trust

Hedge funds have recently bought and sold shares of the stock. Spire Wealth Management raised its position in Northern Trust by 91.6% in the 1st quarter. Spire Wealth Management now owns 297 shares of the asset manager’s stock valued at $26,000 after purchasing an additional 142 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of Northern Trust during the 1st quarter worth about $30,000. Belpointe Asset Management LLC raised its position in shares of Northern Trust by 84.5% during the 1st quarter. Belpointe Asset Management LLC now owns 393 shares of the asset manager’s stock worth $35,000 after acquiring an additional 180 shares in the last quarter. Clear Street Markets LLC raised its position in shares of Northern Trust by 93.4% during the 1st quarter. Clear Street Markets LLC now owns 408 shares of the asset manager’s stock worth $36,000 after acquiring an additional 197 shares in the last quarter. Finally, Covestor Ltd raised its position in shares of Northern Trust by 64.8% during the 1st quarter. Covestor Ltd now owns 496 shares of the asset manager’s stock worth $58,000 after acquiring an additional 195 shares in the last quarter. Institutional investors and hedge funds own 81.64% of the company’s stock.

About Northern Trust

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.