Northern Trust (NASDAQ:NTRS) Coverage Initiated by Analysts at Citigroup

Investment analysts at Citigroup assumed coverage on shares of Northern Trust (NASDAQ:NTRS) in a report released on Monday. The brokerage set a “neutral” rating on the asset manager’s stock.

Other equities analysts have also issued research reports about the stock. Morgan Stanley raised their price objective on shares of Northern Trust from $131.00 to $140.00 and gave the company an “underweight” rating in a research report on Friday, January 23rd. Wells Fargo & Company upped their price target on Northern Trust from $145.00 to $150.00 and gave the company an “equal weight” rating in a research report on Friday, January 23rd. Zacks Research upgraded Northern Trust from a “hold” rating to a “strong-buy” rating in a report on Friday, January 23rd. Truist Financial set a $148.00 price target on shares of Northern Trust in a report on Wednesday, January 7th. Finally, Wall Street Zen upgraded shares of Northern Trust from a “sell” rating to a “hold” rating in a research note on Saturday, December 27th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Northern Trust has a consensus rating of “Hold” and an average price target of $148.75.

Northern Trust Stock Performance

Shares of NASDAQ:NTRS traded down $6.02 during trading on Monday, hitting $138.74. 119,633 shares of the company traded hands, compared to its average volume of 1,070,555. Northern Trust has a one year low of $81.62 and a one year high of $157.60. The stock has a market capitalization of $26.24 billion, a price-to-earnings ratio of 15.89, a PEG ratio of 1.16 and a beta of 1.27. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.57. The business’s fifty day moving average is $144.89 and its 200-day moving average is $134.91.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings results on Friday, January 30th. The asset manager reported $2.42 EPS for the quarter, beating the consensus estimate of $2.37 by $0.05. The company had revenue of $3.15 billion for the quarter. Northern Trust had a net margin of 12.15% and a return on equity of 14.87%. Northern Trust’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.26 EPS. As a group, equities analysts predict that Northern Trust will post 8.27 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Clive Bellows sold 1,148 shares of the company’s stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $145.26, for a total transaction of $166,758.48. Following the completion of the sale, the insider directly owned 34,133 shares of the company’s stock, valued at approximately $4,958,159.58. This represents a 3.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Guy Gibson sold 1,043 shares of the firm’s stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $147.43, for a total transaction of $153,769.49. Following the completion of the transaction, the insider owned 35,013 shares in the company, valued at $5,161,966.59. The trade was a 2.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 27,191 shares of company stock worth $4,061,028 in the last three months. 0.77% of the stock is owned by insiders.

Institutional Investors Weigh In On Northern Trust

Hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp increased its position in shares of Northern Trust by 2.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,947,456 shares of the asset manager’s stock worth $262,128,000 after purchasing an additional 40,048 shares in the last quarter. Aviva PLC boosted its position in Northern Trust by 8.4% in the second quarter. Aviva PLC now owns 149,911 shares of the asset manager’s stock valued at $19,007,000 after buying an additional 11,587 shares in the last quarter. SG Americas Securities LLC grew its stake in Northern Trust by 228.0% during the third quarter. SG Americas Securities LLC now owns 75,829 shares of the asset manager’s stock worth $10,207,000 after buying an additional 52,711 shares during the last quarter. National Pension Service increased its holdings in shares of Northern Trust by 4.3% during the third quarter. National Pension Service now owns 360,527 shares of the asset manager’s stock worth $48,527,000 after buying an additional 14,899 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S raised its stake in shares of Northern Trust by 49.0% in the third quarter. BI Asset Management Fondsmaeglerselskab A S now owns 13,920 shares of the asset manager’s stock valued at $1,874,000 after acquiring an additional 4,577 shares during the last quarter. 83.19% of the stock is owned by institutional investors.

About Northern Trust

Northern Trust Corporation (NASDAQ: NTRS) is a global financial services firm headquartered in Chicago that provides asset servicing, asset management and wealth management solutions to institutions, corporations and high-net-worth individuals. The company’s core businesses include custody and fund administration, investment operations outsourcing, trust and fiduciary services, private banking, and retirement and defined contribution plan services.

Northern Trust’s product and service offerings span custody and fund accounting, portfolio and performance analytics, securities lending, cash management and foreign exchange, as well as discretionary and non-discretionary investment management.