Northern Trust (NASDAQ:NTRS) Rating Lowered to Hold at Zacks Research

Northern Trust (NASDAQ:NTRS) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday,Zacks.com reports.

Other equities analysts have also issued reports about the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Northern Trust in a research report on Friday, July 31st. Morgan Stanley boosted their target price on shares of Northern Trust from $170.00 to $173.00 and gave the stock an “underweight” rating in a research report on Thursday, July 23rd. Wells Fargo & Company raised their price target on shares of Northern Trust from $189.00 to $194.00 and gave the stock an “equal weight” rating in a report on Thursday, July 23rd. Citigroup raised their target price on Northern Trust from $162.00 to $172.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 30th. Finally, Truist Financial boosted their price target on Northern Trust from $176.00 to $186.00 and gave the company a “hold” rating in a research note on Friday, June 26th. Four analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $180.68.

Northern Trust Stock Up 0.4%

Shares of NTRS stock opened at $187.66 on Tuesday. The stock’s fifty day moving average price is $182.29 and its 200 day moving average price is $164.15. Northern Trust has a 1-year low of $121.12 and a 1-year high of $195.78. The company has a market cap of $34.33 billion, a price-to-earnings ratio of 16.11, a price-to-earnings-growth ratio of 1.05 and a beta of 1.25. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.65 and a quick ratio of 0.65.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings results on Wednesday, July 22nd. The asset manager reported $4.23 EPS for the quarter, beating analysts’ consensus estimates of $2.71 by $1.52. Northern Trust had a return on equity of 16.91% and a net margin of 14.76%.The company had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.69 billion. During the same period last year, the business posted $2.13 earnings per share. The firm’s revenue was up 35.1% compared to the same quarter last year. On average, research analysts expect that Northern Trust will post 11.59 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Robert Edward Jr. Moritz acquired 255 shares of Northern Trust stock in a transaction on Wednesday, July 29th. The stock was acquired at an average price of $179.57 per share, for a total transaction of $45,790.35. Following the purchase, the director owned 8,400 shares of the company’s stock, valued at approximately $1,508,388. This represents a 3.13% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Thomas A. South sold 1,800 shares of the business’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $184.90, for a total value of $332,820.00. Following the completion of the transaction, the executive vice president directly owned 92,917 shares of the company’s stock, valued at approximately $17,180,353.30. This trade represents a 1.90% decrease in their position. The SEC filing for this sale provides additional information. 0.66% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of NTRS. Continuum Advisory LLC acquired a new stake in shares of Northern Trust during the 2nd quarter worth approximately $26,000. NBH Bank purchased a new position in shares of Northern Trust during the 2nd quarter valued at approximately $30,000. Keating Financial Advisory Services Inc. acquired a new position in shares of Northern Trust in the 2nd quarter valued at $31,000. Reflection Asset Management purchased a new stake in Northern Trust during the fourth quarter worth $25,000. Finally, Triumph Capital Management purchased a new stake in Northern Trust during the third quarter worth $25,000. 83.19% of the stock is owned by institutional investors and hedge funds.

Northern Trust Company Profile

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.