Northern Trust (NASDAQ:NTRS) Rating Lowered to Sell at Citigroup

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

Other equities analysts have also recently issued research reports about the stock. Bank of America set a $20.00 price objective on shares of Fiat Chrysler Automobiles and gave the stock a hold rating in a research report on Thursday, June 6th. ValuEngine raised shares of Zynerba Pharmaceuticals from a sell rating to a hold rating in a research report on Monday, April 1st. Wells Fargo & Co reissued a hold rating and set a $11.00 price objective on shares of Coty in a research report on Wednesday, May 8th. Morgan Stanley reissued a top pick rating on shares of in a research report on Wednesday, June 5th. Finally, Zacks Investment Research raised shares of HANNOVER RUECK/S from a sell rating to a hold rating in a research report on Friday, May 17th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. The company has an average rating of Hold and a consensus price target of $107.00.

NTRS stock opened at $89.73 on Friday. The company has a market cap of $19.53 billion, a PE ratio of 13.33, a PEG ratio of 1.43 and a beta of 1.13. The stock’s 50-day moving average is $88.84. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.35. Northern Trust has a 1 year low of $75.96 and a 1 year high of $115.61.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings data on Tuesday, April 23rd. The asset manager reported $1.48 earnings per share (EPS) for the quarter, topping 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%. The business’s revenue was up .3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.58 EPS. As a group, research analysts forecast that Northern Trust will post 6.53 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 14th were issued a $0.60 dividend. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.67%. Northern Trust’s dividend payout ratio is presently 35.66%.

In other Northern Trust news, insider Teresa Parker sold 3,000 shares of the stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $97.50, for a total value of $292,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Robert P. Browne sold 12,156 shares of the stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $86.88, for a total transaction of $1,056,113.28. The disclosure for this sale can be found here. Corporate insiders own 1.15% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. Resources Investment Advisors Inc. increased its stake in shares of Northern Trust by 194.2% during the 1st quarter. Resources Investment Advisors Inc. now owns 306 shares of the asset manager’s stock worth $28,000 after purchasing an additional 202 shares during the last quarter. Parallel Advisors LLC increased its stake in shares of Northern Trust by 93.5% during the 1st quarter. Parallel Advisors LLC now owns 389 shares of the asset manager’s stock worth $35,000 after purchasing an additional 188 shares during the last quarter. Brand Asset Management Group Inc. purchased a new stake in shares of Northern Trust during the 1st quarter worth approximately $38,000. Osborn Williams & Donohoe LLC purchased a new stake in shares of Northern Trust during the 1st quarter worth approximately $49,000. Finally, Shine Investment Advisory Services Inc. increased its stake in shares of Northern Trust by 24.5% during the 1st quarter. Shine Investment Advisory Services Inc. now owns 574 shares of the asset manager’s stock worth $52,000 after purchasing an additional 113 shares during the last quarter. Hedge funds and other institutional investors 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.

Further Reading: What is meant by a buy rating?

Analyst Recommendations for Northern Trust (NASDAQ:NTRS)

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