Northern Trust (NASDAQ:NTRS) Price Target Raised to $110.00

Northern Trust (NASDAQ:NTRS) had its price target upped by Wells Fargo & Company from $108.00 to $110.00 in a research note issued to investors on Friday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the asset manager’s stock.

Other equities research analysts have also recently issued research reports about the stock. Morgan Stanley boosted their target price on shares of Northern Trust from $97.00 to $103.00 and gave the company an “underweight” rating in a research report on Thursday, October 24th. Barclays increased their price target on shares of Northern Trust from $98.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Northern Trust from $100.00 to $108.00 and gave the company a “hold” rating in a research report on Monday, November 11th. StockNews.com raised Northern Trust from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Finally, The Goldman Sachs Group lowered Northern Trust from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $84.00 to $82.00 in a research note on Thursday, September 26th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $100.67.

Northern Trust Trading Up 1.2 %

Shares of NASDAQ:NTRS opened at $108.93 on Friday. Northern Trust has a 12-month low of $74.63 and a 12-month high of $109.54. The business has a 50 day moving average of $96.10 and a 200-day moving average of $89.12. 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 stock has a market cap of $21.59 billion, a PE ratio of 13.55, a P/E/G ratio of 1.21 and a beta of 1.06.

Northern Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 6th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.75%. Northern Trust’s dividend payout ratio (DPR) is presently 37.31%.

Insider Buying and Selling

In other news, Vice Chairman Steven L. Fradkin sold 27,874 shares of the company’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $100.50, for a total value of $2,801,337.00. Following the completion of the sale, the insider now owns 46,078 shares in the company, valued at $4,630,839. This represents a 37.69 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Peter Cherecwich sold 16,153 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $105.18, for a total transaction of $1,698,972.54. Following the completion of the sale, the chief operating officer now directly owns 4,397 shares of the company’s stock, valued at $462,476.46. The trade was a 78.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 80,906 shares of company stock valued at $8,176,652. 0.64% of the stock is owned by company insiders.

Hedge Funds Weigh In On Northern Trust

Institutional investors have recently modified their holdings of the business. Coldstream Capital Management Inc. grew its stake in Northern Trust by 22.9% in the 3rd quarter. Coldstream Capital Management Inc. now owns 6,212 shares of the asset manager’s stock valued at $571,000 after purchasing an additional 1,157 shares during the period. LRI Investments LLC purchased a new stake in Northern Trust during the third quarter worth about $180,000. Harvest Investment Advisors LLC raised its position in Northern Trust by 2.9% in the third quarter. Harvest Investment Advisors LLC now owns 16,986 shares of the asset manager’s stock worth $1,529,000 after acquiring an additional 475 shares during the period. Public Employees Retirement System of Ohio boosted its stake in Northern Trust by 1.3% in the third quarter. Public Employees Retirement System of Ohio now owns 78,137 shares of the asset manager’s stock valued at $7,035,000 after acquiring an additional 1,015 shares during the last quarter. Finally, Groupama Asset Managment grew its position in shares of Northern Trust by 113.6% during the 3rd quarter. Groupama Asset Managment now owns 7,186 shares of the asset manager’s stock valued at $647,000 after acquiring an additional 3,822 shares during the period. 83.19% of the stock is owned by 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.