Northern Trust (NASDAQ:NTRS) Downgraded to Hold Rating by Zacks Research

Key Points

• Northern Trust was downgraded from a "strong-buy" to a "hold" rating by Zacks Research, indicating a shift in analyst sentiment.
• The company has seen mixed ratings from other brokerages, with current consensus showing two "buy," nine "hold," and three "sell" ratings.
• Northern Trust reported earnings of $2.13 per share, exceeding expectations, though its revenue dropped by 26.4% year-over-year.

Northern Trust (NASDAQ:NTRS - Get Free Report) was downgraded by analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research note issued on Tuesday,Zacks.com reports.

A number of other brokerages also recently weighed in on NTRS. Wolfe Research raised shares of Northern Trust from an "underperform" rating to a "peer perform" rating in a research report on Thursday, July 24th. The Goldman Sachs Group boosted their price objective on shares of Northern Trust from $89.00 to $101.00 and gave the company a "sell" rating in a research report on Wednesday, July 2nd. Citigroup boosted their price objective on shares of Northern Trust from $110.00 to $135.00 and gave the company a "neutral" rating in a research report on Friday, September 5th. Barclays boosted their price objective on shares of Northern Trust from $128.00 to $136.00 and gave the company an "equal weight" rating in a research report on Thursday, July 24th. Finally, Wells Fargo & Company boosted their price objective on shares of Northern Trust from $111.00 to $120.00 and gave the company an "equal weight" rating in a research report on Thursday, July 24th. Two equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Northern Trust currently has a consensus rating of "Reduce" and a consensus price target of $119.58.

Northern Trust Price Performance

NTRS opened at $127.06 on Tuesday. The company has a 50-day moving average of $128.04 and a 200-day moving average of $111.37. The company has a market capitalization of $24.30 billion, a P/E ratio of 14.93, a PEG ratio of 1.53 and a beta of 1.30. Northern Trust has a 1-year low of $81.62 and a 1-year high of $133.00. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.72 and a current ratio of 0.72.

Northern Trust (NASDAQ:NTRS - Get Free Report) last released its earnings results on Wednesday, July 23rd. The asset manager reported $2.13 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.05. Northern Trust had a net margin of 11.75% and a return on equity of 14.06%. The company had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter in the previous year, the firm earned $4.34 EPS. The company's revenue was down 26.4% on a year-over-year basis. Equities analysts expect that Northern Trust will post 8.27 EPS for the current fiscal year.

Insider Activity

In related news, Director Robert Edward Jr. Moritz acquired 256 shares of the firm's stock in a transaction dated Wednesday, August 13th. The stock was acquired at an average cost of $126.34 per share, for a total transaction of $32,343.04. Following the completion of the acquisition, the director directly owned 2,525 shares of the company's stock, valued at approximately $319,008.50. The trade was a 11.28% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.77% of the stock is owned by company insiders.

Institutional Trading of Northern Trust

Large investors have recently added to or reduced their stakes in the business. FNY Investment Advisers LLC bought a new stake in Northern Trust during the second quarter worth approximately $25,000. Continuum Advisory LLC boosted its holdings in Northern Trust by 5,340.0% during the first quarter. Continuum Advisory LLC now owns 272 shares of the asset manager's stock worth $27,000 after buying an additional 267 shares in the last quarter. Hantz Financial Services Inc. boosted its holdings in Northern Trust by 5,225.0% during the second quarter. Hantz Financial Services Inc. now owns 213 shares of the asset manager's stock worth $27,000 after buying an additional 209 shares in the last quarter. AlphaCore Capital LLC lifted its position in shares of Northern Trust by 87.4% in the 2nd quarter. AlphaCore Capital LLC now owns 208 shares of the asset manager's stock valued at $27,000 after acquiring an additional 97 shares in the last quarter. Finally, Zions Bancorporation National Association UT purchased a new stake in shares of Northern Trust in the 1st quarter valued at approximately $29,000. 83.19% of the stock is currently owned by institutional investors.

Northern Trust Company Profile

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.

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