Northern Trust (NTRS) Rating Increased to Outperform at Wells Fargo & Co

Northern Trust (NASDAQ:NTRS) was upgraded by investment analysts at Wells Fargo & Co from a “market perform” rating to an “outperform” rating in a note issued to investors on Wednesday, MarketBeat.com reports. The brokerage presently has a $126.00 price target on the asset manager’s stock. Wells Fargo & Co’s price objective suggests a potential upside of 27.14% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. Morgan Stanley raised their target price on Northern Trust from $110.00 to $117.00 and gave the company a “$108.44” rating in a research report on Thursday, July 19th. Zacks Investment Research upgraded Northern Trust from a “hold” rating to a “buy” rating and set a $124.00 target price on the stock in a research report on Friday, July 20th. Vining Sparks restated a “buy” rating and set a $130.00 target price on shares of Northern Trust in a research report on Monday, July 23rd. UBS Group raised their target price on Northern Trust from $124.00 to $125.00 and gave the company a “buy” rating in a research report on Monday, October 8th. Finally, Deutsche Bank upgraded Northern Trust from a “hold” rating to a “buy” rating and set a $112.00 target price on the stock in a research report on Thursday, October 18th. Eight research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Northern Trust currently has an average rating of “Buy” and an average price target of $118.24.

Shares of NTRS opened at $99.10 on Wednesday. Northern Trust has a fifty-two week low of $87.98 and a fifty-two week high of $115.61. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a market cap of $21.21 billion, a price-to-earnings ratio of 20.52, a P/E/G ratio of 1.22 and a beta of 0.97.

Northern Trust (NASDAQ:NTRS) last posted its earnings results on Wednesday, October 17th. The asset manager reported $1.58 EPS for the quarter, missing the Zacks’ consensus estimate of $1.61 by ($0.03). Northern Trust had a net margin of 23.28% and a return on equity of 15.75%. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same quarter last year, the business earned $1.20 earnings per share. Northern Trust’s revenue was up 9.4% on a year-over-year basis. On average, analysts expect that Northern Trust will post 6.61 EPS for the current year.

Northern Trust announced that its board has initiated a stock buyback program on Tuesday, July 17th that permits the company to repurchase 25,000,000 outstanding shares. This repurchase authorization permits the asset manager to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Hedge funds have recently bought and sold shares of the stock. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in Northern Trust by 8,671.4% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,228 shares of the asset manager’s stock worth $126,000 after buying an additional 1,214 shares during the last quarter. Sageworth Trust Co boosted its holdings in Northern Trust by 296.3% in the 3rd quarter. Sageworth Trust Co now owns 1,407 shares of the asset manager’s stock worth $144,000 after buying an additional 1,052 shares during the last quarter. Delta Asset Management LLC TN acquired a new stake in Northern Trust in the 2nd quarter worth about $145,000. Qube Research & Technologies Ltd boosted its holdings in Northern Trust by 64.2% in the 2nd quarter. Qube Research & Technologies Ltd now owns 1,813 shares of the asset manager’s stock worth $187,000 after buying an additional 709 shares during the last quarter. Finally, MML Investors Services LLC purchased a new position in Northern Trust in the 3rd quarter worth approximately $201,000. Institutional investors own 77.89% of the company’s stock.

Northern Trust Company Profile

Northern Trust Corporation, a financial holding company, provides asset servicing, fund administration, asset management, fiduciary, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates through Corporate & Institutional Services (C&IS) and Wealth Management segments.

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Analyst Recommendations for Northern Trust (NASDAQ:NTRS)

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