Northern Trust (NASDAQ:NTRS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, June 19th.
According to Zacks, “Shares of Northern Trust have outperformed the industry in the last six months. Moreover, the company has an impressive earnings surprise history. It surpassed the Zacks Consensus Estimate for earnings in three out of the trailing four quarters. Northern Trust continues to benefit from its strong wealth management operations, along with diversified products. Further, it continues to enhance shareholders' value through steady capital-deployment activities, reflecting its strong capital position. Also, the Fed’s interest rate hikes are expected to further ease margin pressure and support its top line. However, despite undertaking cost-saving measures, mounting expenses continue to hurt the company's financials.”
A number of other research firms also recently weighed in on NTRS. Sandler O’Neill restated a “hold” rating and issued a $108.00 target price on shares of Northern Trust in a research report on Monday, April 9th. BidaskClub upgraded Northern Trust from a “sell” rating to a “hold” rating in a research report on Friday, February 23rd. Goldman Sachs Group raised Northern Trust from a “neutral” rating to a “buy” rating and set a $121.00 price target on the stock in a report on Monday, April 2nd. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $108.00 price target on shares of Northern Trust in a report on Thursday, April 5th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $122.00 price target on shares of Northern Trust in a report on Friday, April 6th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $110.75.
NTRS opened at $102.89 on Tuesday. The company has a market capitalization of $23.33 billion, a price-to-earnings ratio of 19.42, a PEG ratio of 1.37 and a beta of 0.92. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.66 and a quick ratio of 0.66. Northern Trust has a 1-year low of $85.69 and a 1-year high of $110.81.
Northern Trust (NASDAQ:NTRS) last released its earnings results on Tuesday, April 17th. The asset manager reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.16. The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.45 billion. Northern Trust had a return on equity of 13.88% and a net margin of 21.84%. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.09 earnings per share. analysts predict that Northern Trust will post 6.51 EPS for the current fiscal year.
In other Northern Trust news, EVP Aileen B. Blake sold 7,163 shares of the business’s stock in a transaction on Monday, May 7th. The shares were sold at an average price of $105.15, for a total transaction of $753,189.45. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Jana R. Schreuder sold 2,627 shares of the business’s stock in a transaction on Tuesday, April 24th. The shares were sold at an average price of $108.08, for a total transaction of $283,926.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,682 shares of company stock worth $2,924,955. Company insiders own 1.04% of the company’s stock.
Large investors have recently made changes to their positions in the business. Signaturefd LLC acquired a new stake in Northern Trust during the 1st quarter valued at $102,000. Whittier Trust Co. of Nevada Inc. acquired a new stake in Northern Trust during the 1st quarter valued at $103,000. Truewealth LLC acquired a new stake in Northern Trust during the 4th quarter valued at $110,000. Quantbot Technologies LP acquired a new stake in Northern Trust during the 1st quarter valued at $167,000. Finally, Bray Capital Advisors acquired a new stake in Northern Trust during the 1st quarter valued at $188,000. 78.09% of the stock is currently owned by institutional investors.
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.
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