BidaskClub Upgrades Northern Trust (NTRS) to “Buy”

Northern Trust (NASDAQ:NTRS) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

A number of other equities research analysts also recently weighed in on NTRS. Zacks Investment Research upgraded Northern Trust from a “sell” rating to a “hold” rating in a research report on Monday, September 25th. Citigroup restated a “neutral” rating and set a $92.00 price target (up previously from $90.00) on shares of Northern Trust in a research report on Monday, October 9th. UBS Group raised their price target on Northern Trust from $100.00 to $109.00 and gave the company a “buy” rating in a research report on Thursday, October 19th. Buckingham Research lifted their price objective on Northern Trust from $95.00 to $97.00 and gave the stock a “neutral” rating in a report on Thursday, October 19th. Finally, Morgan Stanley lifted their price objective on Northern Trust from $83.00 to $91.00 and gave the stock an “underweight” rating in a report on Thursday, October 19th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $100.20.

Shares of Northern Trust (NASDAQ NTRS) opened at $107.26 on Friday. Northern Trust has a 12-month low of $81.92 and a 12-month high of $107.56. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a market capitalization of $24,393.19, a PE ratio of 23.73, a price-to-earnings-growth ratio of 1.62 and a beta of 0.97.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings results on Wednesday, October 18th. The asset manager reported $1.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.12 by $0.08. Northern Trust had a return on equity of 12.33% and a net margin of 20.27%. The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter last year, the business posted $1.11 earnings per share. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. equities research analysts forecast that Northern Trust will post 4.69 EPS for the current fiscal year.

In related news, insider Clair Joyce St sold 7,665 shares of the business’s stock in a transaction dated Wednesday, October 18th. The stock was sold at an average price of $95.00, for a total transaction of $728,175.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Vice Chairman William L. Morrison sold 11,058 shares of the business’s stock in a transaction dated Wednesday, October 25th. The shares were sold at an average price of $94.34, for a total value of $1,043,211.72. The disclosure for this sale can be found here. In the last quarter, insiders sold 323,382 shares of company stock worth $31,182,013. Company insiders own 1.27% of the company’s stock.

A number of large investors have recently made changes to their positions in NTRS. Alyeska Investment Group L.P. purchased a new position in Northern Trust during the 3rd quarter valued at about $128,778,000. Arrowstreet Capital Limited Partnership increased its holdings in 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 valued at $51,140,000 after purchasing an additional 518,781 shares during the period. Vanguard Group Inc. increased its holdings in Northern Trust by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 14,255,623 shares of the asset manager’s stock valued at $1,385,789,000 after purchasing an additional 363,691 shares during the period. Bank of New York Mellon Corp increased its holdings in 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 valued at $180,691,000 after purchasing an additional 255,106 shares during the period. Finally, Point72 Asset Management L.P. purchased 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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Northern Trust 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.

Analyst Recommendations for Northern Trust (NASDAQ:NTRS)

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