Comerica Bank Acquires 1,209 Shares of Northern Trust Co. (NASDAQ:NTRS)

Comerica Bank boosted its position in shares of Northern Trust Co. (NASDAQ:NTRS – Get Rating) by 3.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,923 shares of the asset manager’s stock after acquiring an additional 1,209 shares during the period. Comerica Bank’s holdings in Northern Trust were worth $3,033,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Trust Co. of Vermont purchased a new position in Northern Trust during the second quarter valued at approximately $33,000. LS Investment Advisors LLC purchased a new position in Northern Trust during the second quarter valued at approximately $38,000. Clear Street Markets LLC grew its stake in Northern Trust by 411.8% during the second quarter. Clear Street Markets LLC now owns 435 shares of the asset manager’s stock valued at $42,000 after acquiring an additional 350 shares in the last quarter. CoreCap Advisors LLC purchased a new position in Northern Trust during the second quarter valued at approximately $49,000. Finally, Hexagon Capital Partners LLC grew its stake in Northern Trust by 890.0% during the third quarter. Hexagon Capital Partners LLC now owns 594 shares of the asset manager’s stock valued at $51,000 after acquiring an additional 534 shares in the last quarter. Hedge funds and other institutional investors own 81.44% of the company’s stock.

Northern Trust Price Performance

Shares of Northern Trust stock opened at $98.20 on Tuesday. Northern Trust Co. has a 52-week low of $76.15 and a 52-week high of $133.72. The stock has a market capitalization of $20.47 billion, a price-to-earnings ratio of 13.38 and a beta of 1.06. The company has a fifty day moving average of $90.77 and a 200-day moving average of $92.29. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.67 and a current ratio of 0.67.

Northern Trust (NASDAQ:NTRS – Get Rating) last announced its quarterly earnings data on Wednesday, October 19th. The asset manager reported $1.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.82 by ($0.02). Northern Trust had a net margin of 21.84% and a return on equity of 15.12%. The business had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same period last year, the company posted $1.80 EPS. Northern Trust’s revenue for the quarter was up 7.5% on a year-over-year basis. Equities research analysts expect that Northern Trust Co. will post 7.21 EPS for the current year.

Analyst Ratings Changes

NTRS has been the subject of a number of research reports. Royal Bank of Canada cut their price target on shares of Northern Trust from $110.00 to $95.00 and set an “outperform” rating for the company in a research note on Thursday, October 20th. Evercore ISI cut their price target on shares of Northern Trust to $85.00 in a research note on Thursday, October 20th. Morgan Stanley boosted their price target on shares of Northern Trust from $94.00 to $102.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 1st. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Northern Trust from $92.00 to $95.00 in a research note on Wednesday, January 11th. Finally, Keefe, Bruyette & Woods cut shares of Northern Trust from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 19th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Northern Trust presently has a consensus rating of “Hold” and a consensus target price of $101.59.

Northern Trust Profile

(Get Rating)

Northern Trust Corp. is a financial holding company, which engages in the provision of asset servicing, fund administration, asset management, fiduciary, and banking solutions for corporations, institutions, families, and individuals. It operates through the following segments: Corporate & Institutional Services and Wealth Management.