The Goldman Sachs Group Trims Northern Trust (NASDAQ:NTRS) Target Price to $84.00

Northern Trust (NASDAQ:NTRS) had its target price cut by The Goldman Sachs Group from $94.00 to $84.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the asset manager’s stock. The Goldman Sachs Group’s price target indicates a potential upside of 0.12% from the company’s current price.

Several other brokerages have also weighed in on NTRS. Bank of America increased their price objective on shares of Northern Trust from $93.00 to $101.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Jefferies Financial Group boosted their price target on shares of Northern Trust from $101.00 to $103.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Keefe, Bruyette & Woods dropped their price target on Northern Trust from $92.00 to $85.00 and set a “market perform” rating on the stock in a research report on Thursday, June 27th. Finally, Evercore ISI raised their target price on shares of Northern Trust from $86.00 to $87.00 and gave the stock an “in-line” rating in a report on Thursday, April 4th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $86.42.

Northern Trust Trading Up 0.1 %

NASDAQ:NTRS traded up $0.07 during trading hours on Tuesday, hitting $83.90. 33,925 shares of the stock were exchanged, compared to its average volume of 1,369,235. The company has a market capitalization of $17.17 billion, a P/E ratio of 18.55, a price-to-earnings-growth ratio of 1.19 and a beta of 1.10. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.61. The company’s 50 day moving average is $83.62 and its two-hundred day moving average is $83.18. Northern Trust has a twelve month low of $62.44 and a twelve month high of $89.25.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings results on Tuesday, April 16th. The asset manager reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.23. The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.79 billion. Northern Trust had a return on equity of 12.57% and a net margin of 7.59%. On average, sell-side analysts anticipate that Northern Trust will post 6.88 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Peter Cherecwich sold 12,000 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $87.09, for a total transaction of $1,045,080.00. Following the transaction, the insider now directly owns 31,471 shares in the company, valued at $2,740,809.39. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Northern Trust news, insider Steven L. Fradkin sold 4,097 shares of Northern Trust stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $82.56, for a total transaction of $338,248.32. Following the completion of the sale, the insider now directly owns 46,078 shares in the company, valued at $3,804,199.68. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Peter Cherecwich sold 12,000 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $87.09, for a total transaction of $1,045,080.00. Following the transaction, the insider now owns 31,471 shares in the company, valued at $2,740,809.39. The disclosure for this sale can be found here. Corporate insiders own 0.64% of the company’s stock.

Institutional Investors Weigh In On Northern Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ballast Inc. grew its position in shares of Northern Trust by 1.1% in the 4th quarter. Ballast Inc. now owns 12,208 shares of the asset manager’s stock worth $1,030,000 after buying an additional 136 shares during the period. Mather Group LLC. grew its position in Northern Trust by 3.6% in the 4th quarter. Mather Group LLC. now owns 4,271 shares of the asset manager’s stock worth $360,000 after purchasing an additional 147 shares during the period. Aviance Capital Partners LLC lifted its holdings in Northern Trust by 1.8% in the fourth quarter. Aviance Capital Partners LLC now owns 8,585 shares of the asset manager’s stock valued at $724,000 after acquiring an additional 150 shares during the period. Diversified Trust Co grew its position in Northern Trust by 1.9% during the fourth quarter. Diversified Trust Co now owns 8,531 shares of the asset manager’s stock valued at $720,000 after buying an additional 156 shares during the period. Finally, Quent Capital LLC increased its stake in shares of Northern Trust by 77.8% in the 4th quarter. Quent Capital LLC now owns 361 shares of the asset manager’s stock worth $30,000 after purchasing an additional 158 shares in the last quarter. 83.19% of the stock is currently owned by institutional investors.

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.