Northern Trust’s (NTRS) “Buy (B-)” Rating Reaffirmed at Weiss Ratings

Northern Trust (NASDAQ:NTRS)‘s stock had its “buy (b-)” rating reissued by research analysts at Weiss Ratings in a research note issued to investors on Saturday,Weiss Ratings reports.

Several other brokerages have also recently weighed in on NTRS. Barclays lifted their price objective on Northern Trust from $128.00 to $136.00 and gave the company an “equal weight” rating in a report on Thursday, July 24th. Wall Street Zen cut Northern Trust from a “hold” rating to a “sell” rating in a report on Saturday. TD Cowen lifted their price objective on Northern Trust from $152.00 to $155.00 and gave the company a “buy” rating in a report on Thursday. The Goldman Sachs Group set a $135.00 price objective on Northern Trust in a report on Tuesday, September 30th. Finally, Wells Fargo & Company lifted their price objective on Northern Trust from $127.00 to $131.00 and gave the company an “equal weight” rating in a report on Thursday. Five research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $130.71.

Northern Trust Stock Performance

NASDAQ:NTRS opened at $126.03 on Friday. The stock has a market cap of $24.10 billion, a P/E ratio of 14.69, a PEG ratio of 1.41 and a beta of 1.31. The stock has a 50 day simple moving average of $129.59 and a 200 day simple moving average of $118.12. The company has a current ratio of 0.70, a quick ratio of 0.72 and a debt-to-equity ratio of 0.58. Northern Trust has a 1-year low of $81.62 and a 1-year high of $135.48.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings results on Wednesday, October 22nd. The asset manager reported $2.29 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.03. The business had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.02 billion. Northern Trust had a return on equity of 14.37% and a net margin of 11.99%.The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period last year, the firm posted $2.22 EPS. Research analysts anticipate that Northern Trust will post 8.27 earnings per share for the current year.

Insider Activity at Northern Trust

In other Northern Trust news, Director Robert Edward Jr. Moritz purchased 256 shares of the stock in a transaction dated Wednesday, August 13th. The stock was bought at an average price of $126.34 per share, with a total value of $32,343.04. Following the acquisition, the director owned 2,525 shares of the company’s stock, valued at approximately $319,008.50. This represents 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 this hyperlink. Company insiders own 0.77% of the company’s stock.

Institutional Investors Weigh In On Northern Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of NTRS. Norges Bank bought a new stake in Northern Trust during the 2nd quarter worth $276,087,000. Primecap Management Co. CA grew its position in Northern Trust by 19.5% during the 2nd quarter. Primecap Management Co. CA now owns 7,793,757 shares of the asset manager’s stock worth $988,170,000 after acquiring an additional 1,270,748 shares during the last quarter. Marshall Wace LLP grew its position in Northern Trust by 2,397.3% during the 2nd quarter. Marshall Wace LLP now owns 657,026 shares of the asset manager’s stock worth $83,304,000 after acquiring an additional 630,717 shares during the last quarter. Bank of New York Mellon Corp grew its position in Northern Trust by 47.8% during the 1st quarter. Bank of New York Mellon Corp now owns 1,810,816 shares of the asset manager’s stock worth $178,637,000 after acquiring an additional 585,992 shares during the last quarter. Finally, Rokos Capital Management LLP bought a new stake in Northern Trust during the 2nd quarter worth $73,888,000. Institutional investors 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.