Northern Trust (NTRS) Raised to “Buy” at Goldman Sachs

Northern Trust (NASDAQ:NTRS) was upgraded by research analysts at Goldman Sachs from a “neutral” rating to a “buy” rating in a research note issued on Monday, The Fly reports.

NTRS has been the subject of a number of other research reports. Wells Fargo set a $105.00 target price on shares of Northern Trust and gave the stock a “hold” rating in a research note on Wednesday, December 20th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $110.00 price target on shares of Northern Trust in a research report on Friday, December 22nd. BidaskClub raised shares of Northern Trust from a “hold” rating to a “buy” rating in a research report on Saturday, January 13th. Barclays boosted their price target on shares of Northern Trust from $102.00 to $114.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 2nd. Finally, Royal Bank of Canada boosted their price target on shares of Northern Trust to $110.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $104.81.

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NASDAQ:NTRS opened at $103.13 on Monday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.71 and a quick ratio of 0.71. The firm has a market capitalization of $23,264.25, a price-to-earnings ratio of 21.35, a price-to-earnings-growth ratio of 1.35 and a beta of 0.95. Northern Trust has a 52 week low of $84.93 and a 52 week high of $110.81.

Northern Trust (NASDAQ:NTRS) last issued its earnings results on Wednesday, January 24th. The asset manager reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.05. The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.41 billion. Northern Trust had a net margin of 20.98% and a return on equity of 12.77%. The company’s revenue was up 15.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.11 earnings per share. sell-side analysts anticipate that Northern Trust will post 6.1 earnings per share for the current fiscal year.

In other news, EVP Wilson Leech sold 8,958 shares of the business’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $106.17, for a total transaction of $951,070.86. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jeffrey D. Cohodes sold 30,917 shares of the business’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $105.29, for a total transaction of $3,255,250.93. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 189,457 shares of company stock worth $20,188,250. Company insiders own 1.04% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Field & Main Bank acquired a new position in shares of Northern Trust during the fourth quarter worth about $100,000. Truewealth LLC acquired a new position in shares of Northern Trust during the fourth quarter worth about $110,000. Cerebellum GP LLC acquired a new position in Northern Trust during the fourth quarter worth about $132,000. Mission Wealth Management LP acquired a new position in Northern Trust during the fourth quarter worth about $200,000. Finally, Hollencrest Capital Management acquired a new position in Northern Trust during the fourth quarter worth about $210,000. Institutional investors and hedge funds own 79.74% of the company’s stock.

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Northern Trust Company Profile

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 across the world. Its segments include Corporate & Institutional Services (C&IS), Wealth Management, and Treasury and Other.

The Fly

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