Northern Trust’s (NTRS) “Hold” Rating Reiterated at TD Cowen

Northern Trust (NASDAQ:NTRS)‘s stock had its “hold” rating restated by research analysts at TD Cowen in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $175.00 target price on the asset manager’s stock. TD Cowen’s target price indicates a potential upside of 3.72% from the company’s current price.

Other research analysts have also recently issued reports about the company. Morgan Stanley lifted their price objective on Northern Trust from $170.00 to $173.00 and gave the company an “underweight” rating in a research report on Thursday, July 23rd. Royal Bank Of Canada cut shares of Northern Trust from an “outperform” rating to a “sector perform” rating and set a $178.00 target price on the stock. in a research note on Wednesday, July 22nd. JPMorgan Chase & Co. lowered their price target on shares of Northern Trust from $185.50 to $185.00 and set a “neutral” rating on the stock in a report on Friday, October 2nd. Citigroup upped their price target on shares of Northern Trust from $182.00 to $186.00 and gave the stock a “neutral” rating in a research report on Monday. Finally, BMO Capital Markets reduced their price objective on shares of Northern Trust from $208.00 to $190.00 and set an “outperform” rating for the company in a research note on Tuesday. Three equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $183.93.

Northern Trust Trading Up 0.3%

Shares of Northern Trust stock opened at $168.72 on Thursday. The company’s fifty day simple moving average is $181.87 and its 200-day simple moving average is $171.71. The stock has a market capitalization of $30.87 billion, a PE ratio of 14.44, a P/E/G ratio of 0.96 and a beta of 1.24. Northern Trust has a 1-year low of $121.12 and a 1-year high of $195.78. 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.71 by $1.52. The business had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.69 billion. Northern Trust had a return on equity of 16.91% and a net margin of 14.76%.Northern Trust’s revenue for the quarter was up 35.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.13 earnings per share. As a group, equities analysts anticipate that Northern Trust will post 11.64 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Robert Moritz, Jr. bought 255 shares of the stock in a transaction dated Wednesday, July 29th. The stock was purchased at an average price of $179.57 per share, for a total transaction of $45,790.35. Following the acquisition, the director owned 8,400 shares of the company’s stock, valued at $1,508,388. The trade was a 3.13% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Thomas South sold 1,800 shares of Northern Trust stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $184.90, for a total transaction of $332,820.00. Following the transaction, the executive vice president directly owned 92,917 shares of the company’s stock, valued at approximately $17,180,353.30. This represents a 1.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.66% of the stock is owned by company insiders.

Institutional Trading of Northern Trust

Institutional investors have recently added to or reduced their stakes in the company. Reflection Asset Management bought a new position in shares of Northern Trust during the fourth quarter valued at approximately $25,000. Continuum Advisory LLC bought a new stake in shares of Northern Trust during the second quarter worth $26,000. Basecamp Wealth Advisors LLC boosted its stake in shares of Northern Trust by 99.0% during the first quarter. Basecamp Wealth Advisors LLC now owns 203 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 101 shares during the period. NBH Bank bought a new position in shares of Northern Trust in the second quarter worth about $30,000. Finally, Keating Financial Advisory Services Inc. bought a new position in shares of Northern Trust in the second quarter worth about $31,000. Institutional investors own 83.19% of the company’s stock.

About Northern Trust

Northern Trust Corporation is a financial services company headquartered in Chicago, Illinois. Founded in 1889, the company provides wealth management, asset servicing, asset management and banking services to corporations, institutions, affluent individuals and families, and financial professionals.

Through its wealth management business, Northern Trust offers investment management, financial planning, trust and estate services, private banking, and family office solutions. Its asset servicing and banking operations support institutional investors and businesses with custody, fund administration, securities lending, foreign exchange, treasury services, capital markets, and related banking solutions.

Northern Trust serves clients through operations in the United States and international markets, including Canada, Europe, the Middle East and the Asia-Pacific region.