Northern Trust (NASDAQ:NTRS) Stock Rating Reaffirmed as “Hold” by TD Cowen

Northern Trust (NASDAQ:NTRS)‘s stock had its “hold” rating restated by TD Cowen in a report issued on Thursday, Benzinga reports. They currently have a $175.00 target price on the asset manager’s stock. TD Cowen’s price target points to a potential upside of 3.72% from the stock’s current price.

Several other equities analysts have also issued reports on NTRS. Barclays lifted their price objective on shares of Northern Trust from $176.00 to $189.00 and gave the company an “equal weight” rating in a report on Thursday, July 23rd. Royal Bank Of Canada lowered Northern Trust from an “outperform” rating to a “sector perform” rating and set a $178.00 price target for the company. in a research report on Wednesday, July 22nd. Morgan Stanley raised their price objective on Northern Trust from $170.00 to $173.00 and gave the company an “underweight” rating in a research report on Thursday, July 23rd. Keefe, Bruyette & Woods lifted their target price on Northern Trust from $157.00 to $175.00 and gave the company an “underperform” rating in a research note on Thursday, July 9th. Finally, Capital One Financial set a $190.00 target price on shares of Northern Trust in a report on Tuesday. Three analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $183.93.

Northern Trust Stock Up 0.3%

Shares of NASDAQ:NTRS opened at $168.72 on Thursday. The business’s 50 day moving average is $181.87 and its 200 day moving average is $171.71. The stock has a market cap of $30.87 billion, a P/E ratio of 14.44, a price-to-earnings-growth ratio of 0.96 and a beta of 1.24. Northern Trust has a 52-week low of $121.12 and a 52-week high of $195.78. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.43.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings results on Wednesday, July 22nd. The asset manager reported $4.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.71 by $1.52. The business had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.69 billion. Northern Trust had a return on equity of 16.91% and a net margin of 14.76%.The business’s revenue was up 35.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.13 EPS. Sell-side analysts predict that Northern Trust will post 11.64 EPS for the current year.

Insider Activity

In related news, EVP Thomas South sold 1,800 shares of Northern Trust stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $184.90, for a total transaction of $332,820.00. Following the completion of the sale, the executive vice president owned 92,917 shares of the company’s stock, valued at $17,180,353.30. The trade was a 1.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert Moritz, Jr. bought 255 shares of the company’s stock in a transaction that occurred on Wednesday, July 29th. The stock was purchased at an average price of $179.57 per share, for a total transaction of $45,790.35. Following the transaction, the director owned 8,400 shares of the company’s stock, valued at $1,508,388. The trade was a 3.13% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.66% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Northern Trust

A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in Northern Trust during the second quarter worth about $2,523,781,000. Primecap Management Co. CA purchased a new position in Northern Trust during the second quarter valued at approximately $1,060,553,000. Bank of New York Mellon Corp acquired a new position in Northern Trust in the second quarter valued at approximately $361,079,000. Legal & General Group Plc acquired a new position in Northern Trust in the second quarter valued at approximately $207,054,000. Finally, Man Group plc purchased a new stake in Northern Trust in the 2nd quarter worth approximately $147,718,000. 83.19% of the stock is owned by hedge funds and other institutional investors.

Northern Trust Company Profile

Northern Trust Corporation is a financial services company headquartered in Chicago, Illinois. Founded in 1889, the company provides wealth management, asset servicing, asset management and banking services to corporations, institutions, affluent individuals and families, and financial professionals.

Through its wealth management business, Northern Trust offers investment management, financial planning, trust and estate services, private banking, and family office solutions. Its asset servicing and banking operations support institutional investors and businesses with custody, fund administration, securities lending, foreign exchange, treasury services, capital markets, and related banking solutions.

Northern Trust serves clients through operations in the United States and international markets, including Canada, Europe, the Middle East and the Asia-Pacific region.