Wall Street Zen Upgrades Northern Trust (NASDAQ:NTRS) to “Hold”

Northern Trust (NASDAQ:NTRS) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.

A number of other analysts have also commented on the stock. Truist Financial boosted their price target on shares of Northern Trust from $128.00 to $132.00 and gave the company a “hold” rating in a research note on Thursday, August 14th. Wells Fargo & Company boosted their price target on shares of Northern Trust from $111.00 to $120.00 and gave the company an “equal weight” rating in a research note on Thursday, July 24th. Morgan Stanley boosted their price target on shares of Northern Trust from $103.00 to $106.00 and gave the company an “underweight” rating in a research note on Tuesday, July 1st. Evercore ISI boosted their price target on shares of Northern Trust from $108.00 to $121.00 and gave the company an “in-line” rating in a research note on Wednesday, July 2nd. Finally, Citigroup upped their target price on shares of Northern Trust from $110.00 to $135.00 and gave the stock a “neutral” rating in a research note on Friday, September 5th. Three investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Northern Trust currently has an average rating of “Hold” and a consensus target price of $119.58.

Northern Trust Stock Up 1.5%

Northern Trust stock opened at $133.31 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.58. Northern Trust has a 12-month low of $81.62 and a 12-month high of $135.00. The firm’s fifty day moving average is $128.86 and its 200 day moving average is $113.48. The company has a market capitalization of $25.49 billion, a PE ratio of 15.67, a PEG ratio of 1.58 and a beta of 1.30.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings results on Wednesday, July 23rd. The asset manager reported $2.13 EPS for the quarter, beating analysts’ consensus estimates of $2.08 by $0.05. The business had revenue of $2 billion during the quarter, compared to analyst estimates of $1.96 billion. Northern Trust had a net margin of 11.75% and a return on equity of 14.06%. Northern Trust’s quarterly revenue was down 26.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.34 EPS. As a group, sell-side analysts predict that Northern Trust will post 8.27 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Robert Edward Jr. Moritz purchased 256 shares of Northern Trust stock in a transaction that occurred on 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 transaction, the director owned 2,525 shares in the company, valued at $319,008.50. This represents a 11.28% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.77% of the company’s stock.

Hedge Funds Weigh In On Northern Trust

Institutional investors have recently added to or reduced their stakes in the stock. FNY Investment Advisers LLC bought a new position in Northern Trust during the second quarter valued at about $25,000. AlphaCore Capital LLC grew its position in Northern Trust by 87.4% during the second quarter. AlphaCore Capital LLC now owns 208 shares of the asset manager’s stock valued at $27,000 after buying an additional 97 shares during the period. Hantz Financial Services Inc. grew its position in Northern Trust by 5,225.0% during the second quarter. Hantz Financial Services Inc. now owns 213 shares of the asset manager’s stock valued at $27,000 after buying an additional 209 shares during the period. Clearstead Trust LLC purchased a new stake in Northern Trust during the second quarter valued at about $29,000. Finally, Continuum Advisory LLC lifted its holdings in Northern Trust by 5,340.0% during the first quarter. Continuum Advisory LLC now owns 272 shares of the asset manager’s stock valued at $27,000 after purchasing an additional 267 shares during the last quarter. Institutional investors own 83.19% of the company’s stock.

Northern Trust Company Profile

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.