Northern Trust (NASDAQ:NTRS) Rating Increased to Hold at BMO Capital Markets

Northern Trust (NASDAQ:NTRS) was upgraded by BMO Capital Markets to a “hold” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Other analysts also recently issued research reports about the company. TD Cowen started coverage on Northern Trust in a research report on Thursday, September 25th. They issued a “buy” rating on the stock. Wolfe Research raised Northern Trust from an “underperform” rating to a “peer perform” rating in a research report on Thursday, July 24th. Royal Bank Of Canada set a $123.00 target price on Northern Trust and gave the company an “outperform” rating in a research report on Monday, June 30th. Morgan Stanley lifted their target price on Northern Trust from $110.00 to $131.00 and gave the company an “underweight” rating in a research report on Monday. Finally, Wells Fargo & Company lifted their target price on Northern Trust from $120.00 to $127.00 and gave the company an “equal weight” rating in a research report on Friday. Four analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $128.23.

Northern Trust Stock Performance

NTRS opened at $132.40 on Thursday. The business’s 50-day moving average price is $129.46 and its two-hundred day moving average price is $114.59. Northern Trust has a 1 year low of $81.62 and a 1 year high of $135.48. The company has a market capitalization of $25.32 billion, a price-to-earnings ratio of 15.56, a P/E/G ratio of 1.58 and a beta of 1.31. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.72 and a quick ratio of 0.72.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings results on Wednesday, July 23rd. The asset manager reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.05. Northern Trust had a return on equity of 14.06% and a net margin of 11.75%.The firm had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter last year, the business posted $4.34 EPS. The company’s revenue for the quarter was down 26.4% on a year-over-year basis. Equities analysts expect that Northern Trust will post 8.27 EPS for the current fiscal year.

Insider Activity

In other news, Director Robert Edward Jr. Moritz acquired 256 shares of Northern Trust stock in a transaction dated Wednesday, August 13th. The stock was bought at an average price of $126.34 per share, for a total transaction of $32,343.04. Following the completion of the acquisition, the director directly owned 2,525 shares in the company, valued at approximately $319,008.50. The trade was a 11.28% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.77% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Northern Trust

Institutional investors have recently made changes to their positions in the company. New York Life Investment Management LLC raised its position in shares of Northern Trust by 0.3% during the 2nd quarter. New York Life Investment Management LLC now owns 29,132 shares of the asset manager’s stock valued at $3,694,000 after purchasing an additional 80 shares during the period. Welch Group LLC raised its position in shares of Northern Trust by 2.8% during the 2nd quarter. Welch Group LLC now owns 3,153 shares of the asset manager’s stock valued at $400,000 after purchasing an additional 87 shares during the period. MassMutual Private Wealth & Trust FSB raised its position in shares of Northern Trust by 9.0% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,062 shares of the asset manager’s stock valued at $135,000 after purchasing an additional 88 shares during the period. Harbour Investments Inc. raised its position in shares of Northern Trust by 10.0% during the 2nd quarter. Harbour Investments Inc. now owns 1,032 shares of the asset manager’s stock valued at $131,000 after purchasing an additional 94 shares during the period. Finally, Twin Capital Management Inc. raised its position in shares of Northern Trust by 0.5% during the 2nd quarter. Twin Capital Management Inc. now owns 20,071 shares of the asset manager’s stock valued at $2,545,000 after purchasing an additional 94 shares during the period. Institutional investors own 83.19% 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.