Northern Trust (NASDAQ:NTRS) Downgraded by StockNews.com to Hold

Northern Trust (NASDAQ:NTRS) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Tuesday.

Other equities analysts have also issued reports about the stock. Truist Financial lifted their target price on shares of Northern Trust from $110.00 to $116.00 and gave the company a “hold” rating in a report on Friday, January 24th. Morgan Stanley cut their target price on shares of Northern Trust from $127.00 to $125.00 and set an “equal weight” rating for the company in a report on Friday, January 3rd. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Northern Trust from $100.00 to $108.00 and gave the company a “hold” rating in a report on Monday, November 11th. Royal Bank of Canada lifted their target price on shares of Northern Trust from $107.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, January 24th. Finally, UBS Group lifted their target price on shares of Northern Trust from $110.00 to $114.00 and gave the company a “neutral” rating in a report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $112.58.

Northern Trust Stock Performance

NASDAQ NTRS traded down $2.06 on Tuesday, hitting $110.76. 1,307,679 shares of the company’s stock traded hands, compared to its average volume of 1,203,680. The company has a current ratio of 0.68, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. Northern Trust has a 1-year low of $79.30 and a 1-year high of $114.67. The firm’s 50-day moving average price is $107.51 and its two-hundred day moving average price is $100.70. The firm has a market capitalization of $21.95 billion, a PE ratio of 11.33, a P/E/G ratio of 1.72 and a beta of 1.08.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings data on Thursday, January 23rd. The asset manager reported $2.26 EPS for the quarter, beating the consensus estimate of $1.96 by $0.30. Northern Trust had a net margin of 12.77% and a return on equity of 13.74%. As a group, analysts expect that Northern Trust will post 8.27 EPS for the current year.

Insider Transactions at Northern Trust

In other news, Vice Chairman Steven L. Fradkin sold 9,100 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $111.00, for a total transaction of $1,010,100.00. Following the transaction, the insider now owns 47,797 shares of the company’s stock, valued at approximately $5,305,467. The trade was a 15.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Thomas A. South sold 3,804 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $113.00, for a total transaction of $429,852.00. Following the transaction, the executive vice president now directly owns 81,794 shares in the company, valued at approximately $9,242,722. The trade was a 4.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 44,435 shares of company stock valued at $4,980,311 over the last 90 days. 0.64% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Ascent Group LLC acquired a new position in Northern Trust in the fourth quarter valued at about $292,000. Mackenzie Financial Corp lifted its position in Northern Trust by 17.6% in the fourth quarter. Mackenzie Financial Corp now owns 30,982 shares of the asset manager’s stock valued at $3,176,000 after buying an additional 4,626 shares during the last quarter. Forum Financial Management LP acquired a new position in Northern Trust in the fourth quarter valued at about $546,000. Toronto Dominion Bank lifted its position in Northern Trust by 56.3% in the fourth quarter. Toronto Dominion Bank now owns 106,503 shares of the asset manager’s stock valued at $10,917,000 after buying an additional 38,358 shares during the last quarter. Finally, Neo Ivy Capital Management lifted its position in Northern Trust by 48.0% in the fourth quarter. Neo Ivy Capital Management now owns 18,756 shares of the asset manager’s stock valued at $1,922,000 after buying an additional 6,082 shares during the last quarter. Institutional investors and hedge funds own 83.19% of the company’s stock.

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.