Citigroup downgraded shares of Northern Trust (NASDAQ:NTRS) from a neutral rating to a sell rating in a research report sent to investors on Friday, BenzingaRatingsTable reports. Citigroup currently has $85.00 price target on the asset manager’s stock, down from their previous price target of $94.00.
A number of other equities analysts have also recently commented on NTRS. Deutsche Bank reiterated a buy rating and issued a GBX 4,000 ($52.27) target price on shares of in a research report on Tuesday, June 18th. Bank of America set a $20.00 price objective on shares of Fiat Chrysler Automobiles and gave the company a hold rating in a research report on Thursday, June 6th. ValuEngine upgraded shares of Zynerba Pharmaceuticals from a sell rating to a hold rating in a research report on Monday, April 1st. Wells Fargo & Co restated a hold rating and issued a $11.00 price objective on shares of Coty in a research report on Wednesday, May 8th. Finally, BidaskClub upgraded shares of Zebra Technologies from a hold rating to a buy rating in a research report on Saturday, July 6th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company’s stock. Northern Trust currently has an average rating of Hold and an average target price of $107.00.
Shares of NASDAQ:NTRS opened at $89.73 on Friday. The stock has a market cap of $19.53 billion, a PE ratio of 13.33, a PEG ratio of 1.43 and a beta of 1.13. The stock has a fifty day simple moving average of $88.84. Northern Trust has a 52 week low of $75.96 and a 52 week high of $115.61. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.63 and a current ratio of 0.63.
Northern Trust (NASDAQ:NTRS) last issued its earnings results on Tuesday, April 23rd. The asset manager reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.02. The company had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.47 billion. Northern Trust had a net margin of 22.44% and a return on equity of 16.03%. The firm’s revenue was up .3% compared to the same quarter last year. During the same quarter last year, the company earned $1.58 EPS. On average, equities research analysts predict that Northern Trust will post 6.53 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Friday, June 14th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date was Thursday, June 13th. Northern Trust’s payout ratio is 35.66%.
In other news, insider Teresa Parker sold 3,000 shares of Northern Trust stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $97.50, for a total transaction of $292,500.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Robert P. Browne sold 12,156 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $86.88, for a total transaction of $1,056,113.28. The disclosure for this sale can be found here. Insiders own 1.15% of the company’s stock.
A number of large investors have recently bought and sold shares of NTRS. Norges Bank bought a new stake in Northern Trust during the fourth quarter worth about $133,737,000. American Century Companies Inc. boosted its stake in Northern Trust by 27.9% during the first quarter. American Century Companies Inc. now owns 5,452,010 shares of the asset manager’s stock worth $492,916,000 after acquiring an additional 1,190,787 shares in the last quarter. First Trust Advisors LP boosted its stake in Northern Trust by 438.6% during the first quarter. First Trust Advisors LP now owns 520,929 shares of the asset manager’s stock worth $47,097,000 after acquiring an additional 424,216 shares in the last quarter. FMR LLC boosted its stake in Northern Trust by 4.8% during the first quarter. FMR LLC now owns 8,605,350 shares of the asset manager’s stock worth $778,009,000 after acquiring an additional 394,338 shares in the last quarter. Finally, Deutsche Bank AG lifted its stake in shares of Northern Trust by 33.2% in the fourth quarter. Deutsche Bank AG now owns 766,941 shares of the asset manager’s stock worth $64,102,000 after buying an additional 191,224 shares in the last quarter. 78.82% of the stock is currently owned by institutional investors and hedge funds.
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, Corporate & Institutional Services (C&IS) and Wealth Management.
Further Reading: What does it mean to hold a stock in street name?
Receive News & Ratings for Northern Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Northern Trust and related companies with MarketBeat.com's FREE daily email newsletter.