Northern Trust (NASDAQ:NTRS) Given New $108.00 Price Target at Wells Fargo & Company

Northern Trust (NASDAQ:NTRS) had its target price lifted by Wells Fargo & Company from $92.00 to $108.00 in a research report released on Thursday morning, Benzinga reports. They currently have an equal weight rating on the asset manager’s stock.

Other equities analysts have also issued reports about the company. Royal Bank of Canada upped their target price on Northern Trust from $86.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. The Goldman Sachs Group lowered shares of Northern Trust from a “neutral” rating to a “sell” rating and cut their price target for the company from $84.00 to $82.00 in a report on Thursday, September 26th. UBS Group boosted their price objective on shares of Northern Trust from $86.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Northern Trust from $84.00 to $94.00 and gave the company a “hold” rating in a research note on Monday, September 23rd. Finally, Barclays increased their price target on Northern Trust from $98.00 to $115.00 and gave the company an “equal weight” rating in a report on Thursday. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Northern Trust presently has an average rating of “Hold” and a consensus target price of $99.33.

Northern Trust Price Performance

NASDAQ:NTRS opened at $100.19 on Thursday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The firm has a market cap of $20.50 billion, a price-to-earnings ratio of 22.12, a price-to-earnings-growth ratio of 1.65 and a beta of 1.08. The company’s 50-day moving average is $91.10 and its two-hundred day moving average is $86.73. Northern Trust has a 12-month low of $63.43 and a 12-month high of $104.25.

Northern Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 6th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 2.99%. The ex-dividend date is Friday, December 6th. Northern Trust’s dividend payout ratio (DPR) is currently 66.23%.

Insider Transactions at Northern Trust

In other news, EVP Teresa Parker sold 5,883 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $84.06, for a total transaction of $494,524.98. Following the transaction, the executive vice president now owns 83,765 shares of the company’s stock, valued at approximately $7,041,285.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP Teresa Parker sold 5,883 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $84.06, for a total transaction of $494,524.98. Following the sale, the executive vice president now directly owns 83,765 shares of the company’s stock, valued at approximately $7,041,285.90. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Mark C. Gossett sold 6,000 shares of Northern Trust stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $88.90, for a total transaction of $533,400.00. Following the completion of the transaction, the executive vice president now directly owns 28,707 shares of the company’s stock, valued at approximately $2,552,052.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,738 shares of company stock valued at $1,191,388. 0.64% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Northern Trust

Several institutional investors and hedge funds have recently bought and sold shares of NTRS. Massachusetts Financial Services Co. MA boosted its stake in Northern Trust by 13.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 7,413,620 shares of the asset manager’s stock valued at $622,596,000 after acquiring an additional 850,556 shares during the period. Primecap Management Co. CA lifted its holdings in shares of Northern Trust by 3.9% in the 2nd quarter. Primecap Management Co. CA now owns 7,046,757 shares of the asset manager’s stock worth $591,787,000 after purchasing an additional 261,285 shares during the last quarter. Ariel Investments LLC grew its stake in Northern Trust by 3.6% during the 2nd quarter. Ariel Investments LLC now owns 2,644,205 shares of the asset manager’s stock worth $222,060,000 after buying an additional 91,816 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Northern Trust by 12.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,003,675 shares of the asset manager’s stock worth $168,253,000 after buying an additional 219,387 shares during the period. Finally, Thrivent Financial for Lutherans lifted its stake in Northern Trust by 2.0% in the second quarter. Thrivent Financial for Lutherans now owns 1,401,680 shares of the asset manager’s stock valued at $117,713,000 after buying an additional 26,984 shares during the last quarter. Institutional investors and hedge funds own 83.19% of the company’s stock.

About Northern Trust

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.