Investors Buy Northern Trust Corp. (NTRS) on Weakness
Traders bought shares of Northern Trust Corp. (NASDAQ:NTRS) on weakness during trading on Tuesday. $42.88 million flowed into the stock on the tick-up and $23.84 million flowed out of the stock on the tick-down, for a money net flow of $19.04 million into the stock. Of all equities tracked, Northern Trust Corp. had the 16th highest net in-flow for the day. Northern Trust Corp. traded down ($0.31) for the day and closed at $67.11
NTRS has been the topic of several analyst reports. Sandler O’Neill cut Northern Trust Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, April 20th. Jefferies Group lowered their target price on Northern Trust Corp. to $67.00 and set a “hold” rating on the stock in a research report on Friday, April 8th. Goldman Sachs Group Inc. cut Northern Trust Corp. from a “buy” rating to a “neutral” rating and lowered their target price for the company from $82.00 to $71.00 in a research report on Thursday, July 7th. Zacks Investment Research cut Northern Trust Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, March 30th. Finally, Deutsche Bank AG restated a “hold” rating on shares of Northern Trust Corp. in a research report on Sunday, June 26th. Twelve analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $72.42.
The company has a market cap of $15.31 billion and a price-to-earnings ratio of 16.53. The stock has a 50-day moving average price of $68.36 and a 200 day moving average price of $66.17.
In other Northern Trust Corp. news, EVP Peter Cherecwich sold 58,260 shares of Northern Trust Corp. stock in a transaction that occurred on Thursday, April 21st. The stock was sold at an average price of $71.78, for a total transaction of $4,181,902.80. Following the sale, the executive vice president now directly owns 54,176 shares of the company’s stock, valued at $3,888,753.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
A number of large investors recently added to or reduced their stakes in NTRS. State of Wisconsin Investment Board increased its stake in Northern Trust Corp. by 23.9% in the fourth quarter. State of Wisconsin Investment Board now owns 73,432 shares of the company’s stock worth $5,294,000 after buying an additional 14,160 shares during the last quarter. Winton Capital Group Ltd bought a new stake in Northern Trust Corp. during the fourth quarter worth $34,074,000. Vanguard Group Inc. increased its stake in Northern Trust Corp. by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 12,357,347 shares of the company’s stock worth $890,842,000 after buying an additional 83,069 shares during the last quarter. Quantitative Investment Management LLC bought a new stake in Northern Trust Corp. during the fourth quarter worth $2,169,000. Finally, Nuance Investments LLC increased its stake in Northern Trust Corp. by 4.1% in the fourth quarter. Nuance Investments LLC now owns 22,149 shares of the company’s stock worth $1,597,000 after buying an additional 867 shares during the last quarter.
Northern Trust Corporation is a financial holding company. The Company provides asset servicing, fund administration, asset management, fiduciary and banking solutions for corporations, institutions, families and individuals around the world. The Company’s segments include Corporate & Institutional Services (C&IS), Wealth Management, and Treasury and Other.
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