Northern Trust (NASDAQ:NTRS) Downgraded to “Hold” Rating by Zacks Research

Zacks Research downgraded shares of Northern Trust (NASDAQ:NTRS) from a strong-buy rating to a hold rating in a research note issued to investors on Tuesday morning,Zacks.com reports.

Several other equities research analysts also recently weighed in on NTRS. Royal Bank Of Canada set a $123.00 price target on Northern Trust and gave the stock an “outperform” rating in a report on Monday, June 30th. Keefe, Bruyette & Woods restated an “underperform” rating and issued a $118.00 target price (down previously from $120.00) on shares of Northern Trust in a research note on Thursday, July 24th. Wolfe Research raised shares of Northern Trust from an “underperform” rating to a “peer perform” rating in a report on Thursday, July 24th. Citigroup boosted their price target on shares of Northern Trust from $110.00 to $135.00 and gave the stock a “neutral” rating in a research note on Friday, September 5th. Finally, Morgan Stanley raised their price objective on shares of Northern Trust from $103.00 to $106.00 and gave the company an “underweight” rating in a research report on Tuesday, July 1st. Two investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $119.58.

Northern Trust Stock Performance

NASDAQ NTRS opened at $127.06 on Tuesday. The firm has a market cap of $24.30 billion, a P/E ratio of 14.93, a P/E/G ratio of 1.53 and a beta of 1.30. Northern Trust has a 52-week low of $81.62 and a 52-week high of $133.00. The business’s 50-day moving average price is $128.04 and its 200 day moving average price is $111.37. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.58.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings data on Wednesday, July 23rd. The asset manager reported $2.13 EPS for the quarter, beating the consensus estimate of $2.08 by $0.05. Northern Trust had a return on equity of 14.06% and a net margin of 11.75%.The firm had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same period in the prior year, the business earned $4.34 EPS. The firm’s revenue was down 26.4% compared to the same quarter last year. On average, equities research analysts expect that Northern Trust will post 8.27 earnings per share for the current year.

Northern Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 5th will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 2.5%. This is a positive change from Northern Trust’s previous quarterly dividend of $0.75. The ex-dividend date is Friday, September 5th. Northern Trust’s dividend payout ratio (DPR) is 37.60%.

Insider Buying and Selling

In related news, Director Robert Edward Jr. Moritz bought 256 shares of the stock in a transaction on Wednesday, August 13th. The shares were bought at an average cost of $126.34 per share, for a total transaction of $32,343.04. Following the completion of the transaction, the director owned 2,525 shares of the company’s stock, valued at $319,008.50. This represents a 11.28% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.77% of the company’s stock.

Institutional Investors Weigh In On Northern Trust

Several institutional investors have recently modified their holdings of the company. Captrust Financial Advisors increased its stake in Northern Trust by 16.8% in the 4th quarter. Captrust Financial Advisors now owns 13,487 shares of the asset manager’s stock valued at $1,382,000 after purchasing an additional 1,941 shares in the last quarter. Focus Partners Wealth grew its holdings in Northern Trust by 10.3% in the fourth quarter. Focus Partners Wealth now owns 21,267 shares of the asset manager’s stock valued at $2,180,000 after purchasing an additional 1,990 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of Northern Trust by 33.7% in the fourth quarter. Janus Henderson Group PLC now owns 33,779 shares of the asset manager’s stock valued at $3,462,000 after buying an additional 8,522 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Northern Trust by 257.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 72,598 shares of the asset manager’s stock worth $7,441,000 after buying an additional 52,280 shares during the last quarter. Finally, NorthRock Partners LLC purchased a new stake in shares of Northern Trust in the 4th quarter worth about $356,000. Hedge funds and other institutional investors own 83.19% of the company’s stock.

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, Asset Servicing and Wealth Management. The Asset Servicing segment offers asset servicing and related services, including custody, fund administration, investment operations outsourcing, investment management, investment risk and analytical services, employee benefit services, securities lending, foreign exchange, treasury management, brokerage services, transition management services, banking, and cash management services.