Northern Trust (NASDAQ:NTRS) Price Target Raised to $118.00 at Barclays

Northern Trust (NASDAQ:NTRS) had its target price upped by Barclays from $115.00 to $118.00 in a report released on Monday,Benzinga reports. The firm currently has an equal weight rating on the asset manager’s stock.

A number of other equities research analysts have also recently weighed in on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of Northern Trust from $100.00 to $113.00 and gave the company a “market perform” rating in a research note on Tuesday, December 3rd. Wells Fargo & Company lifted their target price on Northern Trust from $108.00 to $110.00 and gave the stock an “equal weight” rating in a report on Friday, November 15th. Evercore ISI upped their price target 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, October 24th. StockNews.com raised Northern Trust from a “hold” rating to a “buy” rating in a research note on Tuesday, December 10th. Finally, The Goldman Sachs Group downgraded shares of 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. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $106.91.

Northern Trust Stock Down 0.1 %

Northern Trust stock opened at $103.21 on Monday. The company has a 50-day simple moving average of $105.62 and a 200-day simple moving average of $94.64. The firm has a market capitalization of $20.46 billion, a P/E ratio of 12.84, a P/E/G ratio of 1.18 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. Northern Trust has a one year low of $76.67 and a one year high of $111.87.

Northern Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 1st. Investors of record on Friday, December 6th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $3.00 annualized dividend and a dividend yield of 2.91%. Northern Trust’s dividend payout ratio is presently 37.31%.

Insider Activity at Northern Trust

In other news, EVP Susan Cohen Levy sold 19,585 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $102.26, for a total value of $2,002,762.10. Following the completion of the sale, the executive vice president now directly owns 17,132 shares of the company’s stock, valued at approximately $1,751,918.32. This represents a 53.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Peter Cherecwich sold 16,153 shares of the business’s stock in a transaction on 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 transaction, the chief operating officer now directly owns 4,397 shares in the company, valued at $462,476.46. This trade represents a 78.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 82,151 shares of company stock worth $8,489,889 in the last 90 days. 0.64% of the stock is owned by company insiders.

Institutional Investors Weigh In On Northern Trust

A number of institutional investors have recently added to or reduced their stakes in NTRS. FMR LLC grew its holdings in shares of Northern Trust by 9.3% during the 3rd quarter. FMR LLC now owns 18,187,663 shares of the asset manager’s stock worth $1,637,435,000 after purchasing an additional 1,542,685 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Northern Trust by 13.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,413,620 shares of the asset manager’s stock worth $622,596,000 after buying an additional 850,556 shares in the last quarter. Primecap Management Co. CA increased its holdings in Northern Trust by 0.5% in the 3rd quarter. Primecap Management Co. CA now owns 7,085,117 shares of the asset manager’s stock valued at $637,873,000 after buying an additional 38,360 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Northern Trust by 9.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,296,442 shares of the asset manager’s stock valued at $386,809,000 after buying an additional 388,692 shares in the last quarter. Finally, Ariel Investments LLC lifted its holdings in shares of 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 acquiring an additional 91,816 shares during the period. 83.19% of the stock is owned by institutional investors and hedge funds.

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.