Northern Trust (NASDAQ:NTRS) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Tuesday, January 23rd.
Other equities analysts also recently issued research reports about the company. Bank of America set a $102.00 target price on Northern Trust and gave the company a “buy” rating in a research report on Thursday, October 19th. UBS Group upped their target price on Northern Trust from $100.00 to $109.00 and gave the company a “buy” rating in a research report on Thursday, October 19th. Zacks Investment Research raised Northern Trust from a “hold” rating to a “buy” rating and set a $110.00 target price on the stock in a research report on Tuesday, December 19th. Barclays upped their target price on Northern Trust from $102.00 to $114.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 2nd. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $110.00 target price on shares of Northern Trust in a research report on Friday, December 22nd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. Northern Trust presently has a consensus rating of “Hold” and a consensus target price of $104.81.
Shares of Northern Trust (NASDAQ NTRS) traded up $3.34 during midday trading on Tuesday, reaching $102.69. The company’s stock had a trading volume of 1,162,186 shares, compared to its average volume of 1,282,964. Northern Trust has a 1 year low of $83.17 and a 1 year high of $108.91. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $22,596.56, a P/E ratio of 20.87, a PEG ratio of 1.32 and a beta of 0.99.
Northern Trust (NASDAQ:NTRS) last posted its earnings results on Wednesday, January 24th. The asset manager reported $1.35 EPS for the quarter, beating the consensus estimate of $1.30 by $0.05. Northern Trust had a return on equity of 12.77% and a net margin of 20.98%. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter in the prior year, the business earned $1.11 earnings per share. The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. equities analysts forecast that Northern Trust will post 6.02 EPS for the current fiscal year.
In other Northern Trust news, insider Jeffrey D. Cohodes sold 11,982 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $98.75, for a total transaction of $1,183,222.50. Following the completion of the sale, the insider now directly owns 37,936 shares in the company, valued at $3,746,180. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Aileen B. Blake sold 3,000 shares of the company’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $105.32, for a total value of $315,960.00. The disclosure for this sale can be found here. Insiders have sold 198,655 shares of company stock worth $19,906,776 in the last three months. 1.27% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Alyeska Investment Group L.P. bought a new position in shares of Northern Trust in the 3rd quarter valued at $128,778,000. Arrowstreet Capital Limited Partnership lifted its stake in shares of Northern Trust by 7,106.6% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 526,081 shares of the asset manager’s stock valued at $51,140,000 after acquiring an additional 518,781 shares during the last quarter. Alliancebernstein L.P. lifted its stake in shares of Northern Trust by 72.0% in the 4th quarter. Alliancebernstein L.P. now owns 1,107,116 shares of the asset manager’s stock valued at $110,590,000 after acquiring an additional 463,342 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Northern Trust by 14.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,965,535 shares of the asset manager’s stock valued at $180,691,000 after acquiring an additional 255,106 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new position in shares of Northern Trust in the 3rd quarter valued at $23,359,000. Hedge funds and other institutional investors own 80.69% of the company’s stock.
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About Northern Trust
Northern Trust Corporation is a financial holding company. The Company provides asset servicing, fund administration, asset management, fiduciary and banking solutions for corporations, institutions, families and individuals across the world. Its segments include Corporate & Institutional Services (C&IS), Wealth Management, and Treasury and Other.
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