Northern Trust (NASDAQ:NTRS) Downgraded by StockNews.com to Hold

Northern Trust (NASDAQ:NTRS) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report released on Tuesday.

A number of other analysts have also weighed in on NTRS. Wells Fargo & Company upped their target price on shares of Northern Trust from $108.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Friday, November 15th. Truist Financial upped their target price on shares of Northern Trust from $110.00 to $116.00 and gave the stock a “hold” rating in a research note on Friday, January 24th. Keefe, Bruyette & Woods upped their target price on shares of Northern Trust from $113.00 to $122.00 and gave the stock a “market perform” rating in a research note on Friday, January 24th. UBS Group upped their target price on shares of Northern Trust from $110.00 to $114.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Finally, The Goldman Sachs Group upped their target price on shares of Northern Trust from $92.00 to $102.00 and gave the stock a “sell” rating in a research note on Friday, January 24th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $112.58.

Northern Trust Stock Down 1.8 %

Shares of NTRS traded down $2.06 during mid-day trading on Tuesday, hitting $110.76. 1,307,679 shares of the company’s stock were exchanged, compared to its average volume of 1,203,680. The company has a market cap of $21.95 billion, a price-to-earnings ratio of 11.33, a P/E/G ratio of 1.72 and a beta of 1.08. Northern Trust has a fifty-two week low of $79.30 and a fifty-two week high of $114.67. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.68. The stock’s 50-day moving average is $107.51 and its 200-day moving average is $100.70.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings results on Thursday, January 23rd. The asset manager reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.96 by $0.30. Northern Trust had a net margin of 12.77% and a return on equity of 13.74%. On average, sell-side analysts anticipate that Northern Trust will post 8.27 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Peter Cherecwich sold 26,132 shares of the stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $112.36, for a total transaction of $2,936,191.52. Following the completion of the sale, the chief operating officer now directly owns 26,586 shares of the company’s stock, valued at $2,987,202.96. This trade represents a 49.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John Landers sold 900 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $111.44, for a total value of $100,296.00. Following the sale, the insider now directly owns 7,640 shares of the company’s stock, valued at approximately $851,401.60. This represents a 10.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,435 shares of company stock valued at $4,980,311. 0.64% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Northern Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Y.D. More Investments Ltd increased its position in shares of Northern Trust by 118.4% in the fourth quarter. Y.D. More Investments Ltd now owns 249 shares of the asset manager’s stock valued at $26,000 after buying an additional 135 shares in the last quarter. Colonial Trust Co SC increased its position in Northern Trust by 6,400.0% during the 4th quarter. Colonial Trust Co SC now owns 260 shares of the asset manager’s stock worth $27,000 after purchasing an additional 256 shares in the last quarter. Empirical Asset Management LLC purchased a new stake in Northern Trust during the 4th quarter worth about $33,000. Brooklyn Investment Group increased its position in Northern Trust by 51.2% during the 4th quarter. Brooklyn Investment Group now owns 378 shares of the asset manager’s stock worth $39,000 after purchasing an additional 128 shares in the last quarter. Finally, Assetmark Inc. increased its position in Northern Trust by 528.3% during the 4th quarter. Assetmark Inc. now owns 377 shares of the asset manager’s stock worth $39,000 after purchasing an additional 317 shares in the last quarter. Institutional investors and hedge funds own 83.19% of the company’s stock.

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, 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.