Northern Trust (NASDAQ:NTRS) Downgraded by The Goldman Sachs Group to Sell

Northern Trust (NASDAQ:NTRS) was downgraded by stock analysts at The Goldman Sachs Group from a “neutral” rating to a “sell” rating in a note issued to investors on Thursday, MarketBeat reports. They currently have a $82.00 price target on the asset manager’s stock, down from their prior price target of $84.00. The Goldman Sachs Group’s price target suggests a potential downside of 8.96% from the stock’s current price.

Several other analysts have also weighed in on NTRS. Royal Bank of Canada boosted their price objective on Northern Trust from $86.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday, July 18th. Keefe, Bruyette & Woods decreased their target price on Northern Trust from $92.00 to $85.00 and set a “market perform” rating for the company in a research note on Thursday, June 27th. Deutsche Bank Aktiengesellschaft lifted their target price on Northern Trust from $84.00 to $94.00 and gave the company a “hold” rating in a research note on Monday, September 23rd. Finally, Morgan Stanley decreased their target price on Northern Trust from $97.00 to $93.00 and set an “underweight” rating for the company in a research note on Tuesday, July 30th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Northern Trust has an average rating of “Hold” and an average target price of $89.42.

Northern Trust Stock Up 0.2 %

Shares of Northern Trust stock opened at $90.07 on Thursday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. The firm has a market cap of $18.16 billion, a P/E ratio of 19.85, a P/E/G ratio of 1.53 and a beta of 1.08. Northern Trust has a fifty-two week low of $62.44 and a fifty-two week high of $92.82. The business has a 50-day moving average price of $87.79 and a 200 day moving average price of $85.50.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings data on Wednesday, July 17th. The asset manager reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.03. The firm had revenue of $2.72 billion during the quarter, compared to analyst estimates of $1.84 billion. Northern Trust had a return on equity of 12.24% and a net margin of 10.53%. Northern Trust’s quarterly revenue was up 53.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.79 earnings per share. On average, sell-side analysts forecast that Northern Trust will post 7.01 earnings per share for the current fiscal year.

Insider Buying and Selling at Northern Trust

In other Northern Trust news, Director Charles A. Tribbett sold 1,855 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $88.12, for a total value of $163,462.60. Following the transaction, the director now owns 1,000 shares of the company’s stock, valued at $88,120. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Northern Trust news, EVP Mark C. Gossett sold 6,000 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $88.90, for a total transaction of $533,400.00. Following the sale, the executive vice president now directly owns 28,707 shares of the company’s stock, valued at approximately $2,552,052.30. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Charles A. Tribbett sold 1,855 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $88.12, for a total transaction of $163,462.60. Following the sale, the director now directly owns 1,000 shares in the company, valued at $88,120. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,738 shares of company stock valued at $1,191,388. Corporate insiders own 0.64% of the company’s stock.

Hedge Funds Weigh In On Northern Trust

Several institutional investors and hedge funds have recently modified their holdings of NTRS. Quest Partners LLC purchased a new stake in shares of Northern Trust during the fourth quarter worth $61,000. US Bancorp DE raised its holdings in shares of Northern Trust by 1.8% during the fourth quarter. US Bancorp DE now owns 27,976 shares of the asset manager’s stock worth $2,361,000 after acquiring an additional 500 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of Northern Trust by 18.4% during the fourth quarter. Parallel Advisors LLC now owns 1,317 shares of the asset manager’s stock worth $111,000 after acquiring an additional 205 shares in the last quarter. TD Asset Management Inc raised its holdings in shares of Northern Trust by 5.1% during the fourth quarter. TD Asset Management Inc now owns 70,473 shares of the asset manager’s stock worth $5,947,000 after acquiring an additional 3,398 shares in the last quarter. Finally, Stifel Financial Corp increased its position in Northern Trust by 3.0% during the fourth quarter. Stifel Financial Corp now owns 98,659 shares of the asset manager’s stock worth $8,325,000 after buying an additional 2,868 shares during the last quarter. 83.19% of the stock is currently owned by hedge funds and other institutional investors.

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, 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.