BidaskClub Downgrades Northern Trust (NTRS) to Sell

Northern Trust (NASDAQ:NTRS) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Wednesday.

A number of other research firms have also weighed in on NTRS. Vining Sparks restated a “buy” rating and set a $130.00 price objective on shares of Northern Trust in a research note on Monday, July 23rd. Keefe, Bruyette & Woods set a $118.00 price objective on shares of Northern Trust and gave the company a “hold” rating in a research note on Wednesday, July 18th. Morgan Stanley raised their price objective on shares of Northern Trust from $110.00 to $117.00 and gave the company a “$108.44” rating in a research note on Thursday, July 19th. Citigroup raised their price objective on shares of Northern Trust from $108.00 to $118.00 and gave the company a “neutral” rating in a research note on Friday, July 20th. Finally, Credit Suisse Group lifted their price target on shares of Northern Trust from $112.00 to $114.00 and gave the stock a “neutral” rating in a research note on Friday, August 10th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $117.00.

NASDAQ:NTRS traded up $0.63 on Wednesday, reaching $93.74. 36,504 shares of the stock traded hands, compared to its average volume of 1,669,942. The firm has a market cap of $21.04 billion, a P/E ratio of 19.25, a P/E/G ratio of 1.17 and a beta of 0.94. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.66 and a current ratio of 0.65. Northern Trust has a 12 month low of $91.20 and a 12 month high of $115.61.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings data on Wednesday, October 17th. The asset manager reported $1.58 earnings per share for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.03). The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.52 billion. Northern Trust had a net margin of 23.28% and a return on equity of 15.75%. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.20 earnings per share. On average, equities research analysts predict that Northern Trust will post 6.67 EPS for the current year.

Northern Trust announced that its Board of Directors has approved a share repurchase program on Tuesday, July 17th that authorizes the company to repurchase 25,000,000 shares. This repurchase authorization authorizes the asset manager to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

In related news, CFO Biff Bowman sold 21,352 shares of the business’s stock in a transaction that occurred on Thursday, August 9th. The shares were sold at an average price of $111.11, for a total transaction of $2,372,420.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Peter Cherecwich sold 19,761 shares of the business’s stock in a transaction that occurred on Wednesday, August 8th. The shares were sold at an average price of $111.35, for a total transaction of $2,200,387.35. The disclosure for this sale can be found here. Insiders sold 67,864 shares of company stock valued at $7,533,831 over the last quarter. Company insiders own 1.04% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Natixis lifted its holdings in Northern Trust by 259.0% during the second quarter. Natixis now owns 210,250 shares of the asset manager’s stock valued at $21,633,000 after purchasing an additional 151,678 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in Northern Trust by 21.1% during the second quarter. Janus Henderson Group PLC now owns 384,354 shares of the asset manager’s stock valued at $39,546,000 after purchasing an additional 66,849 shares in the last quarter. Glen Harbor Capital Management LLC lifted its holdings in Northern Trust by 12.9% during the second quarter. Glen Harbor Capital Management LLC now owns 71,744 shares of the asset manager’s stock valued at $7,382,000 after purchasing an additional 8,176 shares in the last quarter. Morgan Stanley lifted its holdings in Northern Trust by 29.0% during the second quarter. Morgan Stanley now owns 911,274 shares of the asset manager’s stock valued at $93,762,000 after purchasing an additional 205,050 shares in the last quarter. Finally, Capital Fund Management S.A. lifted its holdings in Northern Trust by 26.4% during the second quarter. Capital Fund Management S.A. now owns 12,000 shares of the asset manager’s stock valued at $1,235,000 after purchasing an additional 2,505 shares in the last quarter. Institutional investors own 77.99% of the company’s stock.

Northern Trust Company Profile

Northern Trust Corporation, a financial holding company, provides asset servicing, fund administration, asset management, fiduciary, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates through Corporate & Institutional Services (C&IS) and Wealth Management segments.

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