Northern Trust (NASDAQ:NTRS) Lowered to Hold Rating by Zacks Research

Northern Trust (NASDAQ:NTRS) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

Other equities research analysts also recently issued reports about the stock. Bank of America increased their price objective on shares of Northern Trust from $190.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Morgan Stanley lifted their price objective on shares of Northern Trust from $170.00 to $173.00 and gave the stock an “underweight” rating in a research report on Thursday, July 23rd. Citigroup increased their target price on Northern Trust from $162.00 to $172.00 and gave the company a “neutral” rating in a report on Tuesday, June 30th. Keefe, Bruyette & Woods raised their price target on Northern Trust from $157.00 to $175.00 and gave the company an “underperform” rating in a research note on Thursday, July 9th. Finally, Barclays lifted their price target on Northern Trust from $176.00 to $189.00 and gave the stock an “equal weight” rating in a report on Thursday, July 23rd. Four analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $180.68.

Northern Trust Stock Performance

Shares of Northern Trust stock opened at $187.66 on Tuesday. Northern Trust has a one year low of $121.12 and a one year high of $195.78. The company has a market cap of $34.33 billion, a PE ratio of 16.11, a P/E/G ratio of 1.05 and a beta of 1.25. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.65 and a current ratio of 0.65. The business has a 50-day simple moving average of $182.29 and a 200-day simple moving average of $164.15.

Northern Trust (NASDAQ:NTRS) last released its earnings results on Wednesday, July 22nd. The asset manager reported $4.23 earnings per share for the quarter, topping analysts’ consensus estimates of $2.71 by $1.52. The firm had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.69 billion. Northern Trust had a net margin of 14.76% and a return on equity of 16.91%. The business’s quarterly revenue was up 35.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.13 earnings per share. On average, equities research analysts forecast that Northern Trust will post 11.59 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP Thomas A. South sold 1,800 shares of the stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $184.90, for a total transaction of $332,820.00. Following the completion of the sale, the executive vice president owned 92,917 shares in the company, valued at approximately $17,180,353.30. This represents a 1.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert Edward Jr. Moritz acquired 255 shares of the firm’s stock in a transaction on Wednesday, July 29th. The shares were bought at an average cost of $179.57 per share, with a total value of $45,790.35. Following the completion of the transaction, the director directly owned 8,400 shares in the company, valued at $1,508,388. This trade represents a 3.13% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.66% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Northern Trust

A number of large investors have recently bought and sold shares of NTRS. Reflection Asset Management acquired a new position in shares of Northern Trust during the fourth quarter worth about $25,000. Triumph Capital Management acquired a new position in Northern Trust during the 3rd quarter worth approximately $25,000. Continuum Advisory LLC purchased a new position in shares of Northern Trust during the 2nd quarter worth approximately $26,000. Basecamp Wealth Advisors LLC lifted its holdings in shares of Northern Trust by 99.0% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 203 shares of the asset manager’s stock valued at $28,000 after buying an additional 101 shares during the period. Finally, NBH Bank purchased a new stake in shares of Northern Trust in the second quarter valued at approximately $30,000. Hedge funds and other institutional investors own 83.19% of the company’s stock.

About Northern Trust

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.