Weiss Ratings Reaffirms "Buy (B-)" Rating for Northern Trust (NASDAQ:NTRS)

Key Points

• Weiss Ratings has reaffirmed a "Buy (B-)" rating for Northern Trust (NASDAQ:NTRS), indicating positive investor sentiment towards the stock.
• Citigroup has raised its price objective for Northern Trust from $110 to $135, while Wells Fargo recently increased their target from $120 to $127, reflecting analysts' bullish outlook on the company.
• Shares of Northern Trust saw a decline of 1.3% recently, trading at $130.75 with a market capitalization of $25 billion.

Northern Trust (NASDAQ:NTRS - Get Free Report)'s stock had its "buy (b-)" rating restated by equities researchers at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

Several other analysts also recently weighed in on the stock. Citigroup boosted their price objective on shares of Northern Trust from $110.00 to $135.00 and gave the stock a "neutral" rating in a research report on Friday, September 5th. Wall Street Zen upgraded shares of Northern Trust from a "sell" rating to a "hold" rating in a research report on Friday, September 26th. TD Cowen began coverage on shares of Northern Trust in a research report on Thursday, September 25th. They issued a "buy" rating for the company. Wells Fargo & Company upped their price target on shares of Northern Trust from $120.00 to $127.00 and gave the company an "equal weight" rating in a research report on Friday, October 3rd. Finally, BMO Capital Markets began coverage on shares of Northern Trust in a research report on Friday, October 3rd. They issued a "market perform" rating and a $142.00 price target for the company. Four analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Northern Trust presently has an average rating of "Hold" and a consensus price target of $128.23.

Northern Trust Stock Down 1.3%

Shares of NASDAQ:NTRS opened at $130.75 on Wednesday. The company has a market capitalization of $25.00 billion, a PE ratio of 15.36, a P/E/G ratio of 1.48 and a beta of 1.31. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.58. Northern Trust has a twelve month low of $81.62 and a twelve month high of $135.48. The firm has a 50 day simple moving average of $129.51 and a 200-day simple moving average of $115.27.

Northern Trust (NASDAQ:NTRS - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.96 billion. Northern Trust had a net margin of 11.75% and a return on equity of 14.06%. The company's revenue was down 26.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.34 EPS. On average, equities analysts predict that Northern Trust will post 8.27 EPS for the current fiscal year.

Insider Buying and Selling

In other Northern Trust news, Director Robert Edward Jr. Moritz acquired 256 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were purchased at an average cost of $126.34 per share, with a total value of $32,343.04. Following the purchase, the director owned 2,525 shares in the company, valued at approximately $319,008.50. The trade was a 11.28% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.77% of the company's stock.

Institutional Investors Weigh In On Northern Trust

A number of large investors have recently added to or reduced their stakes in NTRS. FNY Investment Advisers LLC acquired a new stake in Northern Trust in the 2nd quarter valued at about $25,000. Continuum Advisory LLC lifted its holdings in Northern Trust by 5,340.0% in the 1st quarter. Continuum Advisory LLC now owns 272 shares of the asset manager's stock valued at $27,000 after purchasing an additional 267 shares in the last quarter. Hantz Financial Services Inc. lifted its holdings in Northern Trust by 5,225.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 213 shares of the asset manager's stock valued at $27,000 after purchasing an additional 209 shares in the last quarter. AlphaCore Capital LLC lifted its holdings in 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 purchasing an additional 97 shares in the last quarter. Finally, Zions Bancorporation National Association UT purchased a new position in Northern Trust in the 1st quarter valued at about $29,000. 83.19% of the stock is 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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