Northern Trust (NASDAQ:NTRS) Upgraded by Wall Street Zen to “Hold” Rating

by · The Cerbat Gem

Wall Street Zen upgraded shares of Northern Trust (NASDAQ:NTRS – Free Report) from a sell rating to a hold rating in a report issued on Saturday morning.

A number of other analysts have also recently commented on the stock. Keefe, Bruyette & Woods upped their target price on shares of Northern Trust from $123.00 to $125.00 and gave the company an “underperform” rating in a report on Thursday, October 23rd. Zacks Research downgraded shares of Northern Trust from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 9th. TD Cowen raised their target price on Northern Trust from $152.00 to $155.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Evercore ISI lifted their target price on Northern Trust from $125.00 to $135.00 and gave the company an “in-line” rating in a research report on Tuesday, September 30th. Finally, Morgan Stanley boosted their price target on Northern Trust from $127.00 to $131.00 and gave the company an “underweight” rating in a report on Wednesday, December 17th. Five analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $132.46.

View Our Latest Stock Report on Northern Trust

Northern Trust Stock Down 0.4%

NTRS stock opened at $140.14 on Friday. The company has a market cap of $26.50 billion, a price-to-earnings ratio of 16.33, a P/E/G ratio of 1.51 and a beta of 1.27. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.70 and a current ratio of 0.70. The business’s 50-day moving average is $131.57 and its two-hundred day moving average is $128.50. Northern Trust has a fifty-two week low of $81.62 and a fifty-two week high of $141.25.

Northern Trust (NASDAQ:NTRS – Get Free Report) last released its quarterly earnings results on Wednesday, October 22nd. The asset manager reported $2.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.03. Northern Trust had a return on equity of 14.37% and a net margin of 11.99%.The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same period in the previous year, the company posted $2.22 EPS. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. As a group, analysts forecast that Northern Trust will post 8.27 earnings per share for the current year.

Northern Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 1st. Stockholders of record on Friday, December 5th will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Friday, December 5th. Northern Trust’s payout ratio is presently 37.30%.

Insider Buying and Selling

In other Northern Trust news, insider John Landers sold 766 shares of the stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $124.35, for a total transaction of $95,252.10. Following the completion of the sale, the insider directly owned 7,313 shares of the company’s stock, valued at $909,371.55. This trade represents a 9.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Susan Cohen Levy sold 27,591 shares of Northern Trust stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $128.13, for a total transaction of $3,535,234.83. Following the sale, the executive vice president owned 48,257 shares in the company, valued at approximately $6,183,169.41. The trade was a 36.38% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.77% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Northern Trust

Institutional investors have recently bought and sold shares of the stock. FNY Investment Advisers LLC bought a new position in shares of Northern Trust during the 2nd quarter valued at about $25,000. Triumph Capital Management bought a new position in Northern Trust during the third quarter valued at approximately $25,000. Hantz Financial Services Inc. boosted its stake in Northern Trust by 5,225.0% during the second quarter. Hantz Financial Services Inc. now owns 213 shares of the asset manager’s stock valued at $27,000 after buying an additional 209 shares during the last quarter. AlphaCore Capital LLC grew its holdings in Northern Trust by 87.4% during the 2nd quarter. AlphaCore Capital LLC now owns 208 shares of the asset manager’s stock valued at $27,000 after buying an additional 97 shares in the last quarter. Finally, Clearstead Trust LLC bought a new stake in Northern Trust in the 2nd quarter worth approximately $29,000. 83.19% of the stock is owned by hedge funds and other institutional investors.

About Northern Trust

(Get Free Report)

Northern Trust Corporation (NASDAQ: NTRS) is a global financial services firm headquartered in Chicago that provides asset servicing, asset management and wealth management solutions to institutions, corporations and high-net-worth individuals. The company’s core businesses include custody and fund administration, investment operations outsourcing, trust and fiduciary services, private banking, and retirement and defined contribution plan services.

Northern Trust’s product and service offerings span custody and fund accounting, portfolio and performance analytics, securities lending, cash management and foreign exchange, as well as discretionary and non-discretionary investment management.

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