Northern Trust Corporation (NTRS) Now Covered by Wells Fargo & Company

Analysts at Wells Fargo & Company started coverage on shares of Northern Trust Corporation (NASDAQ:NTRS) in a research report issued on Wednesday, Marketbeat Ratings reports. The firm set a “market perform” rating and a $90.00 price target on the asset manager’s stock. Wells Fargo & Company’s target price would suggest a potential upside of 0.85% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $97.00 price objective on shares of Northern Trust Corporation in a research report on Thursday, June 29th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $102.00 price objective on shares of Northern Trust Corporation in a research report on Wednesday, May 17th. Buckingham Research reaffirmed a “neutral” rating and issued a $103.00 price objective (up previously from $93.00) on shares of Northern Trust Corporation in a research report on Monday, July 10th. Zacks Investment Research downgraded Northern Trust Corporation from a “buy” rating to a “hold” rating in a research report on Friday, July 21st. Finally, BidaskClub raised Northern Trust Corporation from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 5th. Three analysts have rated the stock with a sell rating, seven have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $94.15.

Shares of Northern Trust Corporation (NTRS) traded down 1.84% on Wednesday, hitting $87.60. 268,833 shares of the stock traded hands. Northern Trust Corporation has a 52-week low of $66.40 and a 52-week high of $99.30. The firm has a market cap of $20.02 billion, a PE ratio of 19.89 and a beta of 0.92. The firm has a 50 day moving average price of $92.94 and a 200 day moving average price of $89.19.

Northern Trust Corporation (NASDAQ:NTRS) last announced its quarterly earnings data on Wednesday, July 19th. The asset manager reported $1.18 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.23 by $0.05. The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.33 billion. Northern Trust Corporation had a net margin of 20.21% and a return on equity of 12.08%. The business’s revenue was up .5% compared to the same quarter last year. During the same period last year, the company earned $1.09 EPS. On average, equities analysts forecast that Northern Trust Corporation will post $4.72 EPS for the current year.

Northern Trust Corporation announced that its Board of Directors has authorized a stock buyback program on Wednesday, June 28th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the asset manager to purchase up to 3.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

COPYRIGHT VIOLATION NOTICE: “Northern Trust Corporation (NTRS) Now Covered by Wells Fargo & Company” was first published by Ticker Report and is the property of of Ticker Report. If you are viewing this piece on another domain, it was stolen and reposted in violation of United States & international copyright and trademark legislation. The original version of this piece can be accessed at https://www.tickerreport.com/banking-finance/2795550/northern-trust-corporation-ntrs-now-covered-by-analysts-at-wells-fargo-company.html.

In other Northern Trust Corporation news, Vice Chairman William L. Morrison sold 25,000 shares of the company’s stock in a transaction on Friday, May 19th. The stock was sold at an average price of $87.28, for a total value of $2,182,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Jana R. Schreuder sold 5,538 shares of the company’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $88.33, for a total value of $489,171.54. The disclosure for this sale can be found here. Insiders sold a total of 184,974 shares of company stock valued at $17,103,543 over the last quarter. Company insiders own 1.27% of the company’s stock.

Large investors have recently modified their holdings of the company. Creative Planning boosted its stake in shares of Northern Trust Corporation by 117.8% in the first quarter. Creative Planning now owns 2,354 shares of the asset manager’s stock worth $204,000 after buying an additional 1,273 shares during the period. Bank of Montreal Can boosted its stake in shares of Northern Trust Corporation by 49.1% in the first quarter. Bank of Montreal Can now owns 1,043,696 shares of the asset manager’s stock worth $90,365,000 after buying an additional 343,687 shares during the period. Parametrica Management Ltd bought a new stake in shares of Northern Trust Corporation during the first quarter worth $567,000. Reilly Financial Advisors LLC boosted its stake in shares of Northern Trust Corporation by 3.5% in the first quarter. Reilly Financial Advisors LLC now owns 110,632 shares of the asset manager’s stock worth $9,579,000 after buying an additional 3,713 shares during the period. Finally, Jolley Asset Management LLC boosted its stake in shares of Northern Trust Corporation by 25.9% in the first quarter. Jolley Asset Management LLC now owns 1,700 shares of the asset manager’s stock worth $147,000 after buying an additional 350 shares during the period. Hedge funds and other institutional investors own 83.48% of the company’s stock.

About Northern Trust Corporation

Northern Trust Corporation is a financial holding company. The Company provides asset servicing, fund administration, asset management, fiduciary and banking solutions for corporations, institutions, families and individuals across the world. Its segments include Corporate & Institutional Services (C&IS), Wealth Management, and Treasury and Other.

Analyst Recommendations for Northern Trust Corporation (NASDAQ:NTRS)

Receive News & Ratings for Northern Trust Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Northern Trust Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

How to Trade on Forex – 8 Steps for Beginners
How to Trade on Forex – 8 Steps for Beginners
Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Netflix Could See 150 Million Worldwide Subscribers
Netflix Could See 150 Million Worldwide Subscribers
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back


Leave a Reply

© 2006-2017 Ticker Report. Google+.