Northern Trust (NASDAQ:NTRS) Given New $115.00 Price Target at Barclays

Northern Trust (NASDAQ:NTRS) had its target price hoisted by Barclays from $98.00 to $115.00 in a research report sent to investors on Thursday, Benzinga reports. The brokerage currently has an equal weight rating on the asset manager’s stock.

Several other research firms also recently weighed in on NTRS. UBS Group boosted their target price on Northern Trust from $86.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, October 8th. 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 research note on Thursday, July 18th. Deutsche Bank Aktiengesellschaft increased their price objective on Northern Trust from $84.00 to $94.00 and gave the company a “hold” rating in a report on Monday, September 23rd. Morgan Stanley lifted their target price on shares of Northern Trust from $93.00 to $97.00 and gave the company an “underweight” rating in a report on Monday, September 30th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of 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. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $99.33.

Northern Trust Trading Down 2.5 %

NASDAQ:NTRS opened at $100.19 on Thursday. Northern Trust has a 1 year low of $63.43 and a 1 year high of $104.25. The stock has a market cap of $20.50 billion, a P/E ratio of 22.12, a P/E/G ratio of 1.65 and a beta of 1.08. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a 50-day simple moving average of $91.10 and a 200-day simple moving average of $86.73.

Northern Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 6th will be given a $0.75 dividend. The ex-dividend date is Friday, December 6th. This represents a $3.00 dividend on an annualized basis and a yield of 2.99%. Northern Trust’s payout ratio is currently 66.23%.

Insiders Place Their Bets

In other news, EVP Mark C. Gossett sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $88.90, for a total value of $533,400.00. Following the completion of the sale, the executive vice president now directly owns 28,707 shares of the company’s stock, valued at $2,552,052.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Mark C. Gossett sold 6,000 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $88.90, for a total value of $533,400.00. Following the completion of the transaction, the executive vice president now owns 28,707 shares in the company, valued at $2,552,052.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Teresa Parker sold 5,883 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $7,041,285.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,738 shares of company stock worth $1,191,388. Company insiders own 0.64% of the company’s stock.

Hedge Funds Weigh In On Northern Trust

Several hedge funds have recently bought and sold shares of NTRS. Oak Harvest Investment Services acquired a new stake in Northern Trust in the third quarter valued at $9,894,000. Fiducient Advisors LLC purchased a new stake in shares of Northern Trust in the 3rd quarter worth about $6,292,000. First Trust Direct Indexing L.P. grew its stake in Northern Trust by 20.9% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 6,038 shares of the asset manager’s stock valued at $544,000 after acquiring an additional 1,043 shares during the last quarter. abrdn plc increased its holdings in Northern Trust by 5.7% during the 3rd quarter. abrdn plc now owns 504,483 shares of the asset manager’s stock valued at $45,272,000 after acquiring an additional 27,246 shares in the last quarter. Finally, Pallas Capital Advisors LLC raised its position in Northern Trust by 21.0% during the third quarter. Pallas Capital Advisors LLC now owns 5,984 shares of the asset manager’s stock worth $539,000 after acquiring an additional 1,037 shares during the last quarter. 83.19% of the stock is owned by hedge funds and other institutional investors.

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.