Northern Trust (NTRS) Earns Hold Rating from Sandler O’Neill

Northern Trust (NASDAQ:NTRS)‘s stock had its “hold” rating restated by investment analysts at Sandler O’Neill in a note issued to investors on Wednesday, January 10th. They currently have a $105.00 target price on the asset manager’s stock. Sandler O’Neill’s price target suggests a potential downside of 1.51% from the stock’s current price.

A number of other analysts have also recently weighed in on the stock. Bank of America set a $102.00 price target on shares of Northern Trust and gave the stock a “buy” rating in a research report on Thursday, October 19th. Zacks Investment Research upgraded shares of Northern Trust from a “hold” rating to a “buy” rating and set a $110.00 price objective on the stock in a report on Tuesday, December 19th. Citigroup reiterated a “neutral” rating and issued a $92.00 price objective (up previously from $90.00) on shares of Northern Trust in a report on Monday, October 9th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $110.00 price objective on shares of Northern Trust in a report on Friday, December 22nd. Finally, Morgan Stanley upped their target price on shares of Northern Trust from $83.00 to $91.00 and gave the company an “underweight” rating in a research note on Thursday, October 19th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $100.20.

Northern Trust (NTRS) traded down $0.65 during mid-day trading on Wednesday, reaching $106.61. 789,400 shares of the company’s stock traded hands, compared to its average volume of 955,360. Northern Trust has a 12-month low of $81.92 and a 12-month high of $108.04. The stock has a market cap of $24,310.00, a PE ratio of 23.53, a P/E/G ratio of 1.62 and a beta of 0.96. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.71 and a quick ratio of 0.71.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings data on Wednesday, October 18th. The asset manager reported $1.20 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.12 by $0.08. Northern Trust had a net margin of 20.27% and a return on equity of 12.33%. The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.35 billion. During the same period in the previous year, the company earned $1.11 EPS. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. equities analysts anticipate that Northern Trust will post 4.69 earnings per share for the current year.

In related news, Vice Chairman William L. Morrison sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $96.48, for a total value of $2,894,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Clair Joyce St sold 18,489 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $97.51, for a total transaction of $1,802,862.39. The disclosure for this sale can be found here. Over the last three months, insiders have sold 137,753 shares of company stock valued at $13,433,361. Company insiders own 1.27% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Alyeska Investment Group L.P. bought a new stake in Northern Trust in the 3rd quarter valued at $128,778,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Northern Trust by 7,106.6% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 526,081 shares of the asset manager’s stock worth $51,140,000 after acquiring an additional 518,781 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Northern Trust by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 14,255,623 shares of the asset manager’s stock worth $1,385,789,000 after acquiring an additional 363,691 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Northern Trust by 14.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,965,535 shares of the asset manager’s stock worth $180,691,000 after acquiring an additional 255,106 shares during the period. Finally, Point72 Asset Management L.P. bought a new position in Northern Trust during the 3rd quarter valued at about $23,359,000. Institutional investors own 81.70% of the company’s stock.

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About Northern Trust

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.

Analyst Recommendations for Northern Trust (NASDAQ:NTRS)

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