Northern Trust Corporation (NASDAQ:NTRS) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, July 25th.
A number of other research analysts have also recently weighed in on NTRS. Deutsche Bank AG lowered their price objective on Northern Trust Corporation from $94.00 to $93.00 and set a “hold” rating on the stock in a research report on Thursday, April 6th. Jefferies Group LLC raised Northern Trust Corporation from a “hold” rating to a “buy” rating and boosted their price target for the stock from $90.00 to $102.00 in a report on Tuesday, April 11th. Credit Suisse Group reissued a “hold” rating and issued a $90.00 price target on shares of Northern Trust Corporation in a report on Friday, May 5th. Royal Bank Of Canada reissued a “buy” rating and issued a $97.00 price target on shares of Northern Trust Corporation in a report on Wednesday, May 10th. Finally, Bank of America Corporation reissued a “buy” rating and issued a $98.00 price target (up from $61.32) on shares of Northern Trust Corporation in a report on Friday, May 26th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Northern Trust Corporation has an average rating of “Hold” and an average price target of $94.15.
Northern Trust Corporation (NASDAQ:NTRS) traded up 1.71% during midday trading on Tuesday, reaching $88.64. 1,216,644 shares of the company’s stock traded hands. The stock has a market cap of $20.25 billion, a PE ratio of 20.12 and a beta of 0.92. Northern Trust Corporation has a one year low of $66.39 and a one year high of $99.30. The stock’s 50 day moving average price is $92.53 and its 200-day moving average price is $89.21.
Northern Trust Corporation (NASDAQ:NTRS) last posted its quarterly earnings data on Wednesday, July 19th. The asset manager reported $1.18 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.23 by $0.05. Northern Trust Corporation had a net margin of 20.21% and a return on equity of 12.08%. The company had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.33 billion. During the same period in the previous year, the firm earned $1.09 earnings per share. The firm’s quarterly revenue was up .5% on a year-over-year basis. Equities analysts predict that Northern Trust Corporation will post $4.72 earnings per share for the current year.
Northern Trust Corporation announced that its board has initiated a share buyback program on Wednesday, June 28th that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the asset manager to buy up to 3.4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.
In other news, COO Jana R. Schreuder sold 5,538 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $88.33, for a total transaction of $489,171.54. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Stephen N. Potter sold 48,110 shares of the business’s stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $95.20, for a total value of $4,580,072.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 184,974 shares of company stock worth $17,103,543. Corporate insiders own 1.27% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. Tdam USA Inc. increased its position in Northern Trust Corporation by 0.4% in the second quarter. Tdam USA Inc. now owns 2,629 shares of the asset manager’s stock valued at $255,000 after buying an additional 10 shares in the last quarter. Buckingham Asset Management LLC increased its position in Northern Trust Corporation by 0.3% in the first quarter. Buckingham Asset Management LLC now owns 6,232 shares of the asset manager’s stock valued at $540,000 after buying an additional 20 shares in the last quarter. Creative Planning increased its position in Northern Trust Corporation by 0.8% in the second quarter. Creative Planning now owns 2,374 shares of the asset manager’s stock valued at $231,000 after buying an additional 20 shares in the last quarter. Oppenheimer & Co. Inc. increased its position in Northern Trust Corporation by 0.8% in the first quarter. Oppenheimer & Co. Inc. now owns 2,821 shares of the asset manager’s stock valued at $244,000 after buying an additional 21 shares in the last quarter. Finally, Bank of The West increased its position in Northern Trust Corporation by 0.7% in the second quarter. Bank of The West now owns 3,506 shares of the asset manager’s stock valued at $341,000 after buying an additional 26 shares in the last quarter. 82.90% of the stock is currently owned by hedge funds and other institutional investors.
Northern Trust Corporation Company Profile
Northern Trust Corporation is a financial holding company. The Company provides asset servicing, fund administration, asset management, fiduciary and banking solutions for corporations, institutions, families and individuals across the world. Its segments include Corporate & Institutional Services (C&IS), Wealth Management, and Treasury and Other.
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