Northern Trust (NASDAQ:NTRS – Get Free Report) had its target price cut by analysts at Morgan Stanley from $97.00 to $92.00 in a research note issued to investors on Friday, MarketBeat Ratings reports. The firm currently has an “equal weight” rating on the asset manager’s stock. Morgan Stanley’s target price would suggest a potential upside of 26.51% from the stock’s previous close.
NTRS has been the topic of several other reports. Barclays lowered their target price on Northern Trust from $107.00 to $94.00 in a research note on Tuesday, June 27th. StockNews.com assumed coverage on Northern Trust in a research note on Thursday, August 17th. They issued a “sell” rating on the stock. TheStreet lowered shares of Northern Trust from a “b-” rating to a “c+” rating in a research report on Monday, June 5th. Citigroup lowered their price target on shares of Northern Trust from $78.00 to $75.00 in a research report on Tuesday, June 13th. Finally, Wells Fargo & Company lowered their target price on shares of Northern Trust from $100.00 to $90.00 and set an “overweight” rating on the stock in a report on Tuesday, September 12th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Northern Trust has an average rating of “Hold” and a consensus price target of $86.55.
Check Out Our Latest Stock Report on Northern Trust
Northern Trust Trading Down 1.0 %
Northern Trust (NASDAQ:NTRS – Get Free Report) last posted its quarterly earnings results on Wednesday, July 19th. The asset manager reported $1.56 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 the consensus estimate of $1.77 billion. Northern Trust had a return on equity of 13.96% and a net margin of 12.36%. The company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period last year, the firm posted $1.86 EPS. Equities research analysts predict that Northern Trust will post 6.46 EPS for the current year.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the stock. Vontobel Holding Ltd. increased its position in shares of Northern Trust by 2.4% in the first quarter. Vontobel Holding Ltd. now owns 5,921 shares of the asset manager’s stock valued at $715,000 after acquiring an additional 140 shares during the period. Allianz Asset Management GmbH boosted its holdings in Northern Trust by 26.4% in the first quarter. Allianz Asset Management GmbH now owns 12,985 shares of the asset manager’s stock valued at $1,512,000 after acquiring an additional 2,716 shares in the last quarter. Prudential PLC bought a new stake in shares of Northern Trust during the 1st quarter valued at about $548,000. Vanguard Group Inc. boosted its stake in shares of Northern Trust by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 22,711,584 shares of the asset manager’s stock valued at $2,644,763,000 after purchasing an additional 457,748 shares in the last quarter. Finally, Zions Bancorporation N.A. boosted its stake in shares of Northern Trust by 271.7% during the 1st quarter. Zions Bancorporation N.A. now owns 918 shares of the asset manager’s stock valued at $107,000 after purchasing an additional 671 shares in the last quarter. 81.64% 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.
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