Northern Trust (NTRS) Lowered to “Sell” at BidaskClub

BidaskClub lowered shares of Northern Trust (NASDAQ:NTRS) from a hold rating to a sell rating in a report issued on Tuesday.

Other equities analysts have also issued reports about the stock. Zacks Investment Research lowered shares of Northern Trust from a buy rating to a hold rating in a report on Tuesday, June 19th. Deutsche Bank raised their price target on shares of Northern Trust from $109.00 to $111.00 and gave the company a hold rating in a research note on Friday, April 6th. Jefferies Financial Group restated a buy rating and issued a $122.00 price target on shares of Northern Trust in a research note on Friday, April 6th. Keefe, Bruyette & Woods restated a hold rating and issued a $110.00 price target on shares of Northern Trust in a research note on Wednesday, April 18th. Finally, Sandler O’Neill restated a hold rating and issued a $108.00 price target on shares of Northern Trust in a research note on Monday, April 9th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $110.75.

Northern Trust opened at $102.61 on Tuesday, Marketbeat Ratings reports. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.66 and a current ratio of 0.66. Northern Trust has a 12 month low of $85.69 and a 12 month high of $110.81. The stock has a market capitalization of $23.40 billion, a price-to-earnings ratio of 19.48, a PEG ratio of 1.37 and a beta of 0.93.

Northern Trust (NASDAQ:NTRS) last released its earnings results on Tuesday, April 17th. The asset manager reported $1.58 EPS for the quarter, beating the consensus estimate of $1.42 by $0.16. Northern Trust had a net margin of 21.84% and a return on equity of 13.88%. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same period last year, the firm earned $1.09 EPS. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. equities research analysts forecast that Northern Trust will post 6.51 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Sunday, July 1st. Investors of record on Friday, June 8th were given a dividend of $0.42 per share. The ex-dividend date was Thursday, June 7th. This represents a $1.68 annualized dividend and a yield of 1.64%. Northern Trust’s dividend payout ratio is presently 34.78%.

In related news, COO Jana R. Schreuder sold 2,913 shares of Northern Trust stock in a transaction that occurred on Tuesday, May 15th. The shares were sold at an average price of $107.38, for a total transaction of $312,797.94. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Aileen B. Blake sold 7,163 shares of Northern Trust stock in a transaction that occurred on Monday, May 7th. The stock was sold at an average price of $105.15, for a total transaction of $753,189.45. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,682 shares of company stock worth $2,924,955. 1.04% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Dynamic Technology Lab Private Ltd acquired a new position in shares of Northern Trust in the 1st quarter worth approximately $665,000. Suntrust Banks Inc. lifted its position in shares of Northern Trust by 27.0% in the 1st quarter. Suntrust Banks Inc. now owns 20,691 shares of the asset manager’s stock worth $2,133,000 after purchasing an additional 4,404 shares during the period. WINTON GROUP Ltd lifted its position in shares of Northern Trust by 18.6% in the 1st quarter. WINTON GROUP Ltd now owns 4,825 shares of the asset manager’s stock worth $498,000 after purchasing an additional 757 shares during the period. Moors & Cabot Inc. lifted its position in shares of Northern Trust by 30.0% in the 1st quarter. Moors & Cabot Inc. now owns 3,468 shares of the asset manager’s stock worth $358,000 after purchasing an additional 800 shares during the period. Finally, Xact Kapitalforvaltning AB lifted its position in shares of Northern Trust by 6.0% in the 1st quarter. Xact Kapitalforvaltning AB now owns 33,562 shares of the asset manager’s stock worth $3,461,000 after purchasing an additional 1,885 shares during the period. Hedge funds and other institutional investors own 78.09% of the company’s stock.

About Northern Trust

Northern Trust Corporation, a financial holding company, provides asset servicing, fund administration, asset management, fiduciary, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates through Corporate & Institutional Services (C&IS) and Wealth Management segments.

Analyst Recommendations for Northern Trust (NASDAQ:NTRS)

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