Northern Trust (NASDAQ:NTRS) Cut to Sell at Citigroup

Citigroup cut shares of Northern Trust (NASDAQ:NTRS) from a neutral rating to a sell rating in a report released on Friday morning, BenzingaRatingsTable reports. The firm currently has $85.00 price target on the asset manager’s stock, down from their prior price target of $94.00.

A number of other brokerages have also recently issued reports on NTRS. ValuEngine raised shares of Zynerba Pharmaceuticals from a sell rating to a hold rating in a report on Monday, April 1st. Morgan Stanley reaffirmed a top pick rating on shares of in a report on Wednesday, June 5th. Wells Fargo & Co reaffirmed a hold rating and issued a $11.00 target price on shares of Coty in a report on Wednesday, May 8th. Zacks Investment Research raised shares of HANNOVER RUECK/S from a sell rating to a hold rating in a report on Friday, May 17th. Finally, BidaskClub raised shares of Zebra Technologies from a hold rating to a buy rating in a report on Saturday, July 6th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $107.00.

Northern Trust stock opened at $91.34 on Friday. The business’s 50-day simple moving average is $88.87. Northern Trust has a one year low of $75.96 and a one year 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. The firm has a market cap of $19.88 billion, a P/E ratio of 13.57, a price-to-earnings-growth ratio of 1.43 and a beta of 1.13.

Northern Trust (NASDAQ:NTRS) last issued its earnings results on Tuesday, April 23rd. The asset manager reported $1.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate 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%. Northern Trust’s quarterly revenue was up .3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.58 EPS. Analysts expect that Northern Trust will post 6.53 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 14th were issued a $0.60 dividend. The ex-dividend date was Thursday, June 13th. This represents a $2.40 annualized dividend and a yield of 2.63%. Northern Trust’s dividend payout ratio is currently 35.66%.

In other news, EVP Robert P. Browne sold 12,156 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $86.88, for a total transaction of $1,056,113.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Teresa Parker sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $97.50, for a total transaction of $292,500.00. The disclosure for this sale can be found here. 1.15% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of NTRS. Private Advisor Group LLC boosted its position in shares of Northern Trust by 11.8% in the fourth quarter. Private Advisor Group LLC now owns 3,115 shares of the asset manager’s stock worth $261,000 after buying an additional 328 shares during the period. Advisor Group Inc. boosted its position in shares of Northern Trust by 3.6% in the fourth quarter. Advisor Group Inc. now owns 4,021 shares of the asset manager’s stock worth $336,000 after buying an additional 139 shares during the period. Fairview Capital Investment Management LLC boosted its position in shares of Northern Trust by 2.1% in the fourth quarter. Fairview Capital Investment Management LLC now owns 458,506 shares of the asset manager’s stock worth $38,326,000 after buying an additional 9,482 shares during the period. Van ECK Associates Corp boosted its position in shares of Northern Trust by 35.3% in the fourth quarter. Van ECK Associates Corp now owns 816 shares of the asset manager’s stock worth $68,000 after buying an additional 213 shares during the period. Finally, Blueshift Asset Management LLC acquired a new stake in shares of Northern Trust in the fourth quarter worth $202,000. Institutional investors and hedge funds own 78.82% of the company’s stock.

Northern Trust Company Profile

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.

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Analyst Recommendations for Northern Trust (NASDAQ:NTRS)

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