Northern Trust (NASDAQ:NTRS) Rating Lowered to “Hold” at StockNews.com

Northern Trust (NASDAQ:NTRS) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

A number of other equities analysts have also recently commented on the stock. UBS Group lifted their price objective on shares of Northern Trust from $86.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 8th. Royal Bank of Canada lifted their price objective on shares of Northern Trust from $100.00 to $107.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Wells Fargo & Company lifted their price objective on shares of Northern Trust from $108.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Friday, November 15th. The Goldman Sachs Group cut shares of Northern Trust from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $84.00 to $82.00 in a research note on Thursday, September 26th. Finally, Bank of America lifted their price objective on shares of Northern Trust from $103.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Northern Trust currently has a consensus rating of “Hold” and an average price target of $100.67.

Northern Trust Price Performance

NTRS traded down $0.16 during trading on Wednesday, hitting $110.59. 592,534 shares of the company traded hands, compared to its average volume of 1,296,518. Northern Trust has a 1 year low of $75.70 and a 1 year high of $111.57. The company has a market cap of $21.92 billion, a PE ratio of 13.75, a P/E/G ratio of 1.24 and a beta of 1.06. The stock’s 50-day simple moving average is $98.99 and its two-hundred day simple moving average is $90.27. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58.

Insider Activity at Northern Trust

In other news, Vice Chairman Steven L. Fradkin sold 27,874 shares of the business’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $100.50, for a total value of $2,801,337.00. Following the completion of the sale, the insider now owns 46,078 shares in the company, valued at approximately $4,630,839. The trade was a 37.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Charles A. Tribbett sold 1,855 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $88.12, for a total transaction of $163,462.60. Following the completion of the sale, the director now owns 1,000 shares of the company’s stock, valued at approximately $88,120. This represents a 64.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 74,906 shares of company stock worth $7,643,252 in the last 90 days. 0.64% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Northern Trust

Large investors have recently modified their holdings of the business. Swedbank AB bought a new stake in shares of Northern Trust in the 1st quarter valued at about $1,407,000. Tidal Investments LLC raised its holdings in shares of Northern Trust by 141.3% in the 1st quarter. Tidal Investments LLC now owns 13,771 shares of the asset manager’s stock valued at $1,224,000 after purchasing an additional 8,063 shares in the last quarter. M&G Plc bought a new stake in shares of Northern Trust in the 2nd quarter valued at about $971,000. Williams Financial LLC bought a new stake in shares of Northern Trust in the 2nd quarter valued at about $1,322,000. Finally, Jacobs Levy Equity Management Inc. purchased a new position in shares of Northern Trust in the 1st quarter worth approximately $3,842,000. 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.