Northern Trust (NASDAQ:NTRS) Earns “Underperform” Rating from Keefe, Bruyette & Woods

Northern Trust (NASDAQ:NTRS)‘s stock had its “underperform” rating restated by investment analysts at Keefe, Bruyette & Woods in a note issued to investors on Thursday,Benzinga reports. They presently have a $118.00 price objective on the asset manager’s stock, down from their prior price objective of $120.00. Keefe, Bruyette & Woods’ target price indicates a potential downside of 9.25% from the company’s current price.

Other analysts have also recently issued reports about the stock. Barclays raised their price target on shares of Northern Trust from $128.00 to $136.00 and gave the stock an “equal weight” rating in a report on Thursday. The Goldman Sachs Group lifted their target price on shares of Northern Trust from $89.00 to $101.00 and gave the company a “sell” rating in a research note on Wednesday, July 2nd. Royal Bank Of Canada set a $123.00 target price on shares of Northern Trust and gave the company an “outperform” rating in a research note on Monday, June 30th. Wolfe Research upgraded shares of Northern Trust from an “underperform” rating to a “peer perform” rating in a research note on Thursday. Finally, Evercore ISI lifted their target price on shares of Northern Trust from $108.00 to $121.00 and gave the company an “in-line” rating in a research note on Wednesday, July 2nd. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Northern Trust has a consensus rating of “Hold” and a consensus target price of $116.58.

Northern Trust Stock Performance

NTRS stock opened at $130.03 on Thursday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.72. The stock has a market cap of $25.30 billion, a P/E ratio of 15.28, a P/E/G ratio of 1.89 and a beta of 1.26. The firm has a 50 day simple moving average of $117.19 and a 200 day simple moving average of $107.04. Northern Trust has a 52 week low of $80.81 and a 52 week high of $133.00.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings results on Wednesday, July 23rd. The asset manager reported $2.13 EPS for the quarter, topping the consensus estimate of $2.08 by $0.05. The business had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.96 billion. Northern Trust had a net margin of 11.75% and a return on equity of 14.06%. The firm’s quarterly revenue was down 26.4% compared to the same quarter last year. During the same period last year, the company posted $4.34 earnings per share. Research analysts anticipate that Northern Trust will post 8.27 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Clive Bellows sold 3,300 shares of the business’s stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $99.95, for a total value of $329,835.00. Following the completion of the sale, the executive vice president directly owned 28,736 shares in the company, valued at approximately $2,872,163.20. The trade was a 10.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Teresa Parker sold 6,467 shares of the business’s stock in a transaction on Friday, May 9th. The stock was sold at an average price of $100.62, for a total transaction of $650,709.54. Following the completion of the sale, the insider owned 79,391 shares of the company’s stock, valued at $7,988,322.42. The trade was a 7.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,772 shares of company stock valued at $981,069 over the last 90 days. 0.77% of the stock is owned by corporate insiders.

Institutional Trading of Northern Trust

Several hedge funds and other institutional investors have recently bought and sold shares of NTRS. Colonial Trust Co SC lifted its stake in shares of Northern Trust by 6,400.0% in the fourth quarter. Colonial Trust Co SC now owns 260 shares of the asset manager’s stock valued at $27,000 after buying an additional 256 shares during the period. Continuum Advisory LLC increased its stake in Northern Trust by 5,340.0% during the first quarter. Continuum Advisory LLC now owns 272 shares of the asset manager’s stock valued at $27,000 after acquiring an additional 267 shares during the period. Zions Bancorporation National Association UT acquired a new position in Northern Trust in the 1st quarter valued at approximately $29,000. Wayfinding Financial LLC bought a new stake in shares of Northern Trust in the 1st quarter worth approximately $35,000. Finally, GFG Capital LLC acquired a new stake in shares of Northern Trust during the 2nd quarter worth approximately $35,000. 83.19% of the stock is currently owned by institutional investors and hedge funds.

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.