Northern Trust (NASDAQ:NTRS) Lifted to “Hold” at BidaskClub

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BidaskClub upgraded shares of Northern Trust (NASDAQ:NTRS) from a sell rating to a hold rating in a research note released on Thursday morning, BidAskClub reports.

A number of other research analysts have also recently issued reports on NTRS. Zacks Investment Research cut shares of Northern Trust from a buy rating to a hold rating in a report on Friday, May 17th. Wells Fargo & Co set a $110.00 price target on shares of Northern Trust and gave the stock a buy rating in a report on Friday, August 16th. Citigroup cut shares of Northern Trust from a neutral rating to a sell rating and cut their price target for the stock from $94.00 to $85.00 in a report on Friday, July 12th. Morgan Stanley set a $89.00 price target on shares of Northern Trust and gave the stock a sell rating in a report on Friday, August 9th. Finally, Deutsche Bank cut their price target on shares of Northern Trust from $91.00 to $87.00 and set a hold rating on the stock in a report on Wednesday, August 21st. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $104.00.

NASDAQ NTRS traded up $1.38 during mid-day trading on Thursday, reaching $98.94. 940,301 shares of the stock were exchanged, compared to its average volume of 917,140. Northern Trust has a one year low of $75.96 and a one year high of $107.45. The stock has a 50 day simple moving average of $90.45 and a 200-day simple moving average of $91.63. The stock has a market cap of $20.96 billion, a P/E ratio of 14.70, a P/E/G ratio of 1.74 and a beta of 1.19. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.64 and a quick ratio of 0.64.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings data on Wednesday, July 24th. The asset manager reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.07. The firm had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.51 billion. Northern Trust had a net margin of 22.20% and a return on equity of 15.74%. The business’s revenue was down .1% on a year-over-year basis. During the same period last year, the company earned $1.68 earnings per share. Sell-side analysts anticipate that Northern Trust will post 6.59 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a $0.70 dividend. This is a positive change from Northern Trust’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $2.80 annualized dividend and a yield of 2.83%. Northern Trust’s payout ratio is currently 41.60%.

In other Northern Trust news, EVP Robert P. Browne sold 21,612 shares of Northern Trust stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $99.61, for a total value of $2,152,771.32. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Biff Bowman sold 46,204 shares of Northern Trust stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $92.81, for a total transaction of $4,288,193.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 99,411 shares of company stock worth $9,583,719. Insiders own 1.15% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. grew its stake in Northern Trust by 0.5% in the 2nd quarter. BlackRock Inc. now owns 13,947,938 shares of the asset manager’s stock worth $1,255,316,000 after buying an additional 72,688 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in Northern Trust by 65.3% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 10,482,148 shares of the asset manager’s stock valued at $943,393,000 after buying an additional 4,139,159 shares during the last quarter. FMR LLC raised its holdings in Northern Trust by 4.8% during the 1st quarter. FMR LLC now owns 8,605,350 shares of the asset manager’s stock valued at $778,009,000 after buying an additional 394,338 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Northern Trust by 6.7% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 6,221,336 shares of the asset manager’s stock valued at $559,920,000 after buying an additional 390,783 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in Northern Trust by 27.9% during the 1st quarter. American Century Companies Inc. now owns 5,452,010 shares of the asset manager’s stock valued at $492,916,000 after buying an additional 1,190,787 shares during the last quarter. 80.88% of the stock is currently owned by institutional investors.

About Northern Trust

Northern Trust Corporation, a financial holding company, provides wealth management, asset servicing, asset management, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates in two segments, Corporate & Institutional Services (C&IS) and Wealth Management.

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Analyst Recommendations for Northern Trust (NASDAQ:NTRS)

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