Northern Trust (NASDAQ:NTRS) Raised to “Equal Weight” at Morgan Stanley

Northern Trust (NASDAQ:NTRS) was upgraded by investment analysts at Morgan Stanley from an “underweight” rating to an “equal weight” rating in a research note issued on Monday, MarketBeat.com reports. The brokerage presently has a $127.00 price objective on the asset manager’s stock, up from their prior price objective of $103.00. Morgan Stanley’s price target indicates a potential upside of 17.43% from the stock’s current price.

Several other equities research analysts have also commented on the company. UBS Group upped their target price on Northern Trust from $86.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, October 8th. Bank of America upped their target price on Northern Trust from $103.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Barclays upped their target price on Northern Trust from $98.00 to $115.00 and gave the company an “equal weight” rating in a research report on Thursday, October 24th. Evercore ISI upped their price target on Northern Trust from $86.00 to $103.00 and gave the stock an “in-line” rating in a research note on Thursday, October 24th. Finally, The Goldman Sachs Group downgraded Northern Trust from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $84.00 to $82.00 in a research note on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $105.00.

Northern Trust Trading Down 0.4 %

NASDAQ NTRS opened at $108.15 on Monday. The business’s 50-day moving average price is $101.95 and its two-hundred day moving average price is $91.68. Northern Trust has a 12 month low of $76.67 and a 12 month high of $111.87. The firm has a market capitalization of $21.44 billion, a PE ratio of 13.45, a price-to-earnings-growth ratio of 1.21 and a beta of 1.07. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58.

Insider Activity at Northern Trust

In related news, Director Charles A. Tribbett sold 1,855 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $88.12, for a total transaction of $163,462.60. Following the completion of the sale, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $88,120. This trade represents a 64.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Vice Chairman Steven L. Fradkin sold 9,100 shares of the stock in a transaction on Friday, November 29th. The shares were sold at an average price of $111.00, for a total value of $1,010,100.00. Following the transaction, the insider now directly owns 47,797 shares of the company’s stock, valued at approximately $5,305,467. This trade represents a 15.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 84,006 shares of company stock valued at $8,653,352. 0.64% of the stock is owned by insiders.

Hedge Funds Weigh In On Northern Trust

Several institutional investors and hedge funds have recently bought and sold shares of the company. Allworth Financial LP grew its holdings in Northern Trust by 9.1% during the third quarter. Allworth Financial LP now owns 1,170 shares of the asset manager’s stock valued at $105,000 after purchasing an additional 98 shares during the period. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Northern Trust by 14.5% in the third quarter. Massmutual Trust Co. FSB ADV now owns 922 shares of the asset manager’s stock worth $83,000 after acquiring an additional 117 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in shares of Northern Trust by 0.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 43,713 shares of the asset manager’s stock worth $3,608,000 after acquiring an additional 120 shares during the period. Mesirow Financial Investment Management Inc. boosted its holdings in shares of Northern Trust by 0.4% in the third quarter. Mesirow Financial Investment Management Inc. now owns 35,673 shares of the asset manager’s stock worth $3,212,000 after acquiring an additional 127 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Northern Trust by 1.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 10,584 shares of the asset manager’s stock worth $889,000 after acquiring an additional 131 shares during the period. 83.19% of the stock is owned by 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.