Northern Trust Corporation (NASDAQ:NTRS) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a report released on Friday.
A number of other brokerages have also weighed in on NTRS. Wells Fargo & Company initiated coverage on shares of Northern Trust Corporation in a research note on Wednesday. They issued a “market perform” rating and a $90.00 price target on the stock. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $97.00 price target on shares of Northern Trust Corporation in a research note on Wednesday, May 10th. Zacks Investment Research raised shares of Northern Trust Corporation from a “hold” rating to a “buy” rating and set a $110.00 price target on the stock in a research note on Wednesday, July 12th. Buckingham Research reaffirmed a “neutral” rating and issued a $103.00 price target (up from $93.00) on shares of Northern Trust Corporation in a research note on Monday, July 10th. Finally, Credit Suisse Group reaffirmed a “hold” rating and issued a $90.00 price target on shares of Northern Trust Corporation in a research note on Friday, May 5th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $94.15.
Northern Trust Corporation (NTRS) traded up 0.44% during trading on Friday, reaching $87.58. The company had a trading volume of 271,570 shares. The stock has a 50 day moving average price of $92.73 and a 200 day moving average price of $89.18. Northern Trust Corporation has a 52 week low of $66.40 and a 52 week high of $99.30. The firm has a market capitalization of $20.01 billion, a P/E ratio of 19.88 and a beta of 0.92.
Northern Trust Corporation (NASDAQ:NTRS) last issued its quarterly earnings results on Wednesday, July 19th. The asset manager reported $1.18 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.23 by $0.05. The company had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.33 billion. Northern Trust Corporation had a net margin of 20.21% and a return on equity of 12.08%. The company’s quarterly revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.09 earnings per share. Analysts predict that Northern Trust Corporation will post $4.72 earnings per share for the current year.
Northern Trust Corporation announced that its board has approved a share buyback plan on Wednesday, June 28th that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the asset manager to buy up to 3.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.
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In other news, Vice Chairman William L. Morrison sold 41,965 shares of the firm’s stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $91.89, for a total transaction of $3,856,163.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Stephen N. Potter sold 48,110 shares of the firm’s stock in a transaction that occurred on Monday, June 19th. The stock was sold at an average price of $95.20, for a total transaction of $4,580,072.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 184,974 shares of company stock valued at $17,103,543. 1.27% of the stock is owned by insiders.
Several hedge funds have recently made changes to their positions in NTRS. Trust Department MB Financial Bank N A increased its stake in shares of Northern Trust Corporation by 6.5% in the first quarter. Trust Department MB Financial Bank N A now owns 1,172 shares of the asset manager’s stock worth $101,000 after buying an additional 72 shares in the last quarter. Kings Point Capital Management purchased a new stake in shares of Northern Trust Corporation during the first quarter worth about $101,000. Huntington National Bank increased its stake in shares of Northern Trust Corporation by 54.0% in the second quarter. Huntington National Bank now owns 1,089 shares of the asset manager’s stock worth $106,000 after buying an additional 382 shares in the last quarter. Dupont Capital Management Corp purchased a new stake in shares of Northern Trust Corporation during the second quarter worth about $107,000. Finally, Advisory Services Network LLC purchased a new stake in shares of Northern Trust Corporation during the first quarter worth about $117,000. Institutional investors and hedge funds own 83.48% of the company’s stock.
Northern Trust Corporation Company Profile
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.
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