Northern Trust (NASDAQ:NTRS) Upgraded by Wall Street Zen to “Hold” Rating

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

A number of other equities analysts also recently issued reports on NTRS. BMO Capital Markets began coverage on shares of Northern Trust in a research note on Friday, October 3rd. They issued a “market perform” rating and a $142.00 price target for the company. Zacks Research downgraded Northern Trust from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 9th. TD Cowen increased their target price on Northern Trust from $152.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. Truist Financial lowered their target price on Northern Trust from $142.00 to $139.00 and set a “hold” rating for the company in a research note on Thursday, October 23rd. Finally, Citigroup upped their price target on Northern Trust from $110.00 to $135.00 and gave the stock a “neutral” rating in a research note on Friday, September 5th. Five equities research 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 MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $132.46.

Northern Trust Stock Performance

Shares of NTRS stock opened at $140.14 on Friday. The firm has a market capitalization of $26.50 billion, a price-to-earnings ratio of 16.33, a PEG ratio of 1.52 and a beta of 1.27. The stock has a fifty day moving average of $131.57 and a 200 day moving average of $128.38. Northern Trust has a 52 week low of $81.62 and a 52 week high of $141.25. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.58.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings data on Wednesday, October 22nd. The asset manager reported $2.29 EPS for the quarter, topping the consensus estimate of $2.26 by $0.03. Northern Trust had a net margin of 11.99% and a return on equity of 14.37%. The business had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.02 billion. During the same period in the prior year, the business earned $2.22 EPS. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. As a group, research analysts expect that Northern Trust will post 8.27 earnings per share for the current year.

Insider Buying and Selling at Northern Trust

In related news, insider John Landers sold 766 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $124.35, for a total transaction of $95,252.10. Following the completion of the sale, the insider owned 7,313 shares of the company’s stock, valued at $909,371.55. This trade represents a 9.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Susan Cohen Levy sold 27,591 shares of the business’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $128.13, for a total transaction of $3,535,234.83. Following the completion of the transaction, the executive vice president owned 48,257 shares of the company’s stock, valued at approximately $6,183,169.41. The trade was a 36.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.77% of the stock is owned by company insiders.

Institutional Trading of Northern Trust

A number of institutional investors and hedge funds have recently modified their holdings of NTRS. FNY Investment Advisers LLC purchased a new stake in shares of Northern Trust during the second quarter valued at $25,000. Triumph Capital Management bought a new position in Northern Trust during the 3rd quarter valued at about $25,000. Hantz Financial Services Inc. boosted its holdings in shares of Northern Trust by 5,225.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 213 shares of the asset manager’s stock valued at $27,000 after acquiring an additional 209 shares during the last quarter. AlphaCore Capital LLC grew its stake in shares of Northern Trust by 87.4% in the second quarter. AlphaCore Capital LLC now owns 208 shares of the asset manager’s stock worth $27,000 after acquiring an additional 97 shares during the period. Finally, Clearstead Trust LLC purchased a new position in shares of Northern Trust during the second quarter valued at approximately $29,000. 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.