Northern Trust (NASDAQ:NTRS) Stock Rating Upgraded by Zacks Research

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

Other equities analysts have also issued reports about the company. Truist Financial lifted their price objective on Northern Trust from $155.00 to $176.00 and gave the company a “hold” rating in a research note on Wednesday, April 22nd. TD Cowen lifted their price objective on Northern Trust from $165.00 to $175.00 and gave the company a “buy” rating in a research note on Monday, January 26th. BMO Capital Markets raised Northern Trust from a “market perform” rating to an “outperform” rating and set a $168.00 price objective on the stock in a research note on Monday, April 6th. Citigroup started coverage on Northern Trust in a research note on Monday, February 23rd. They issued a “neutral” rating on the stock. Finally, Barclays lifted their price objective on Northern Trust from $160.00 to $176.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Northern Trust has an average rating of “Hold” and a consensus target price of $164.08.

Northern Trust Stock Up 0.4%

NTRS opened at $162.97 on Tuesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.62 and a quick ratio of 0.62. The stock has a market capitalization of $30.16 billion, a price-to-earnings ratio of 17.06, a price-to-earnings-growth ratio of 1.16 and a beta of 1.27. The business has a 50-day moving average of $149.71 and a two-hundred day moving average of $142.74. Northern Trust has a 12 month low of $104.09 and a 12 month high of $173.18.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings results on Tuesday, April 21st. The asset manager reported $2.71 EPS for the quarter, beating the consensus estimate of $2.37 by $0.34. The company had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Northern Trust had a return on equity of 15.94% and a net margin of 12.84%.The firm’s revenue was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.90 EPS. On average, research analysts expect that Northern Trust will post 10.68 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Clive Bellows sold 2,800 shares of the business’s stock in a transaction that occurred on Friday, April 24th. The stock was sold at an average price of $165.02, for a total transaction of $462,056.00. Following the transaction, the insider directly owned 28,217 shares of the company’s stock, valued at approximately $4,656,369.34. The trade was a 9.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Robert Edward Jr. Moritz purchased 225 shares of Northern Trust stock in a transaction that occurred on Friday, May 1st. The shares were bought at an average cost of $166.41 per share, for a total transaction of $37,442.25. Following the completion of the transaction, the director directly owned 8,145 shares in the company, valued at $1,355,409.45. This represents a 2.84% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders sold 30,514 shares of company stock valued at $4,890,937. Insiders own 0.66% of the company’s stock.

Institutional Investors Weigh In On Northern Trust

Hedge funds and other institutional investors have recently bought and sold shares of the business. Triumph Capital Management purchased a new stake in Northern Trust during the 3rd quarter worth approximately $25,000. Reflection Asset Management purchased a new stake in Northern Trust during the 4th quarter worth approximately $25,000. Board of the Pension Protection Fund purchased a new stake in Northern Trust during the 4th quarter worth approximately $27,000. Elyxium Wealth LLC purchased a new stake in Northern Trust during the 4th quarter worth approximately $34,000. Finally, International Assets Investment Management LLC purchased a new stake in Northern Trust during the 4th quarter worth approximately $35,000. 83.19% of the stock is currently owned by hedge funds and other institutional investors.

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.