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

Northern Trust (NASDAQ:NTRS - Get Free Report)'s stock had its "underperform" rating reaffirmed by research analysts at Keefe, Bruyette & Woods in a note issued to investors on Thursday,Benzinga reports. They presently have a $118.00 target price on the asset manager's stock, down from their previous target price of $120.00. Keefe, Bruyette & Woods' price target would suggest a potential downside of 8.37% from the company's current price.

Several other research analysts have also recently commented on NTRS. Evercore ISI raised their target price on shares of Northern Trust from $108.00 to $121.00 and gave the stock an "in-line" rating in a report on Wednesday, July 2nd. Royal Bank Of Canada set a $123.00 target price on shares of Northern Trust and gave the stock an "outperform" rating in a report on Monday, June 30th. Barclays increased their price target on shares of Northern Trust from $128.00 to $136.00 and gave the stock an "equal weight" rating in a research report on Thursday. Truist Financial raised their price objective on shares of Northern Trust from $116.00 to $126.00 and gave the company a "hold" rating in a research report on Thursday, July 3rd. Finally, Wolfe Research raised shares of Northern Trust from an "underperform" rating to a "peer perform" rating in a research report on Thursday. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Northern Trust has a consensus rating of "Hold" and a consensus price target of $116.58.

Northern Trust Price Performance

Shares of NASDAQ:NTRS traded up $4.54 during trading hours on Thursday, hitting $128.77. 1,086,966 shares of the company's stock traded hands, compared to its average volume of 1,651,020. Northern Trust has a 52 week low of $80.81 and a 52 week high of $133.00. The company's fifty day simple moving average is $116.32 and its two-hundred day simple moving average is $106.67. The company has a market cap of $25.05 billion, a price-to-earnings ratio of 12.03, a price-to-earnings-growth ratio of 1.88 and a beta of 1.26. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.71 and a current ratio of 0.71.

Northern Trust (NASDAQ:NTRS - Get Free Report) last announced its 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. Northern Trust had a net margin of 13.93% and a return on equity of 13.73%. The company had revenue of $2 billion during the quarter, compared to analysts' expectations of $1.96 billion. During the same period last year, the company posted $4.34 earnings per share. The business's revenue for the quarter was down 26.4% on a year-over-year basis. As a group, equities analysts anticipate that Northern Trust will post 8.27 EPS for the current fiscal year.

Insider Activity

In related news, EVP Clive Bellows sold 3,300 shares of the business's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $99.95, for a total value of $329,835.00. Following the completion of the transaction, 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 position. The sale was disclosed in a document filed 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 that occurred on Friday, May 9th. The shares were sold at an average price of $100.62, for a total value of $650,709.54. Following the completion of the transaction, the insider owned 79,391 shares of the company's stock, valued at $7,988,322.42. This represents a 7.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,772 shares of company stock valued at $981,069 over the last three months. Company insiders own 0.77% of the company's stock.

Hedge Funds Weigh In On Northern Trust

Several institutional investors and hedge funds have recently modified their holdings of the business. Massachusetts Financial Services Co. MA grew its position in shares of Northern Trust by 4.9% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 7,850,088 shares of the asset manager's stock valued at $774,411,000 after purchasing an additional 363,472 shares during the period. Geode Capital Management LLC grew its position in shares of Northern Trust by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 4,904,871 shares of the asset manager's stock valued at $501,444,000 after purchasing an additional 30,908 shares during the period. Invesco Ltd. grew its position in shares of Northern Trust by 19.3% in the 1st quarter. Invesco Ltd. now owns 3,443,599 shares of the asset manager's stock valued at $339,711,000 after purchasing an additional 558,287 shares during the period. American Century Companies Inc. grew its position in shares of Northern Trust by 0.7% in the 1st quarter. American Century Companies Inc. now owns 3,013,123 shares of the asset manager's stock valued at $297,245,000 after purchasing an additional 20,010 shares during the period. Finally, Wellington Management Group LLP grew its position in shares of Northern Trust by 1.6% in the 4th quarter. Wellington Management Group LLP now owns 2,532,401 shares of the asset manager's stock valued at $259,571,000 after purchasing an additional 39,592 shares during the period. 83.19% of the stock is currently owned by institutional investors and hedge funds.

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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