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

Northern Trust (NASDAQ:NTRS) had its price objective raised by Wells Fargo & Company from $92.00 to $108.00 in a research note published on Thursday morning, Benzinga reports. The brokerage currently has an equal weight rating on the asset manager’s stock.

A number of other brokerages have also issued reports on NTRS. Evercore ISI increased their target price on shares of Northern Trust from $86.00 to $103.00 and gave the company an “in-line” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft boosted their target price on Northern Trust from $84.00 to $94.00 and gave the stock a “hold” rating in a report on Monday, September 23rd. Barclays increased their price target on Northern Trust from $98.00 to $115.00 and gave the company an “equal weight” rating in a research note on Thursday. Morgan Stanley boosted their price objective on Northern Trust from $93.00 to $97.00 and gave the stock an “underweight” rating in a research note on Monday, September 30th. Finally, The Goldman Sachs Group cut Northern Trust from a “neutral” rating to a “sell” rating and decreased their target price for the company from $84.00 to $82.00 in a research note on Thursday, September 26th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Northern Trust currently has a consensus rating of “Hold” and an average price target of $99.33.

Northern Trust Trading Down 2.5 %

Shares of NTRS stock 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 firm has a market capitalization of $20.50 billion, a PE ratio of 22.12, a price-to-earnings-growth ratio of 1.65 and a beta of 1.08. The stock has a fifty day moving average of $91.10 and a two-hundred day moving average of $86.73. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71.

Northern Trust Announces Dividend

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

Insiders Place Their Bets

In other Northern Trust news, EVP Mark C. Gossett sold 6,000 shares of the firm’s 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 directly owns 28,707 shares in the company, valued at $2,552,052.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, EVP Mark C. Gossett sold 6,000 shares of the company’s stock in a transaction that occurred on 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 sale, the executive vice president now owns 28,707 shares in the company, valued at approximately $2,552,052.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Teresa Parker sold 5,883 shares of Northern Trust 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 transaction, the executive vice president now owns 83,765 shares in the company, valued at approximately $7,041,285.90. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, 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 institutional investors and hedge funds have recently bought and sold shares of NTRS. Olistico Wealth LLC purchased a new stake in shares of Northern Trust in the second quarter worth approximately $25,000. Innealta Capital LLC acquired a new position in Northern Trust in the 2nd quarter valued at approximately $26,000. Ridgewood Investments LLC purchased a new stake in Northern Trust in the 2nd quarter worth approximately $30,000. Northwest Investment Counselors LLC acquired a new stake in shares of Northern Trust during the 3rd quarter valued at $39,000. Finally, Versant Capital Management Inc grew its holdings in shares of Northern Trust by 343.9% during the 2nd quarter. Versant Capital Management Inc now owns 435 shares of the asset manager’s stock valued at $37,000 after acquiring an additional 337 shares in the last quarter. Hedge funds and other institutional investors 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.