Northern Trust (NASDAQ:NTRS) was downgraded by Citigroup from a “neutral” rating to a “sell” rating in a note issued to investors on Friday, Marketbeat reports. They presently have a $85.00 price target on the asset manager’s stock, down from their previous price target of $94.00. Citigroup‘s target price indicates a potential downside of 6.94% from the company’s previous close.
Other analysts have also recently issued research reports about the company. Buckingham Research upped their price objective on Frontdoor from $37.00 to $44.00 and gave the company a “buy” rating in a research note on Thursday, March 14th. Bank of America set a $20.00 price objective on Fiat Chrysler Automobiles and gave the company a “hold” rating in a research note on Thursday, June 6th. BidaskClub upgraded Zebra Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, July 6th. Deutsche Bank reiterated a “buy” rating and set a GBX 4,000 ($52.27) price target on shares of in a research report on Tuesday, June 18th. Finally, Morgan Stanley reiterated a “top pick” rating on shares of in a research report on Wednesday, June 5th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $107.00.
Shares of NASDAQ NTRS opened at $91.34 on Friday. The company’s 50 day moving average price is $88.87. Northern Trust has a 52-week low of $75.96 and a 52-week high of $115.61. The firm has a market capitalization of $19.88 billion, a PE ratio of 13.84, a P/E/G ratio of 1.42 and a beta of 1.13. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.63 and a quick ratio of 0.63.
Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings data on Tuesday, April 23rd. The asset manager reported $1.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.46 by $0.02. Northern Trust had a return on equity of 16.03% and a net margin of 22.44%. The firm had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.47 billion. During the same quarter in the prior year, the firm posted $1.58 earnings per share. Northern Trust’s revenue for the quarter was up .3% compared to the same quarter last year. As a group, research analysts anticipate that Northern Trust will post 6.53 EPS for the current fiscal year.
In related news, EVP Robert P. Browne sold 12,156 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $86.88, for a total value of $1,056,113.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Teresa Parker sold 3,000 shares of the stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $97.50, for a total value of $292,500.00. The disclosure for this sale can be found here. Corporate insiders own 1.15% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. Associated Banc Corp boosted its stake in Northern Trust by 0.3% during the 1st quarter. Associated Banc Corp now owns 36,404 shares of the asset manager’s stock valued at $3,291,000 after purchasing an additional 103 shares in the last quarter. Kaizen Advisory LLC boosted its stake in Northern Trust by 20.3% during the 4th quarter. Kaizen Advisory LLC now owns 645 shares of the asset manager’s stock valued at $54,000 after purchasing an additional 109 shares in the last quarter. Shine Investment Advisory Services Inc. boosted its stake in Northern Trust by 24.5% during the 1st quarter. Shine Investment Advisory Services Inc. now owns 574 shares of the asset manager’s stock valued at $52,000 after purchasing an additional 113 shares in the last quarter. Advisor Group Inc. boosted its stake in Northern Trust by 3.6% during the 4th quarter. Advisor Group Inc. now owns 4,021 shares of the asset manager’s stock valued at $336,000 after purchasing an additional 139 shares in the last quarter. Finally, Brand Asset Management Group Inc. bought a new position in Northern Trust during the 1st quarter valued at $38,000. 78.77% of the stock is owned by institutional investors and hedge funds.
Northern Trust Company Profile
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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