Northern Trust (NASDAQ:NTRS) Raised to Buy at StockNews.com

Northern Trust (NASDAQ:NTRS) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday.

A number of other equities analysts have also weighed in on NTRS. Evercore ISI lifted their price objective 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. Royal Bank of Canada lifted their price objective on shares of Northern Trust from $100.00 to $107.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Bank of America lifted their price objective on shares of Northern Trust from $103.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. UBS Group lifted their price objective on shares of Northern Trust from $86.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, October 8th. Finally, Barclays lifted their price objective on shares of Northern Trust from $98.00 to $115.00 and gave the company an “equal weight” rating in a research report on Thursday, October 24th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $100.50.

Northern Trust Stock Performance

Shares of Northern Trust stock opened at $106.84 on Tuesday. The firm’s fifty day simple moving average is $94.59 and its 200-day simple moving average is $88.44. Northern Trust has a 12 month low of $72.28 and a 12 month high of $108.53. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71. The stock has a market capitalization of $21.18 billion, a price-to-earnings ratio of 13.29, a PEG ratio of 1.24 and a beta of 1.06.

Insider Buying and Selling

In related news, Vice Chairman Steven L. Fradkin sold 27,874 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 46,078 shares in the company, valued at $4,630,839. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Mark C. Gossett sold 6,000 shares of the business’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 owns 28,707 shares of the company’s stock, valued at approximately $2,552,052.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman Steven L. Fradkin sold 27,874 shares of the business’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $100.50, for a total transaction of $2,801,337.00. Following the completion of the transaction, the insider now directly owns 46,078 shares of the company’s stock, valued at $4,630,839. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 80,906 shares of company stock worth $8,176,652 in the last three months. Corporate insiders own 0.64% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in NTRS. Olistico Wealth LLC acquired a new position in Northern Trust in the 2nd quarter valued at about $25,000. Innealta Capital LLC acquired a new position in Northern Trust in the 2nd quarter valued at about $26,000. Ridgewood Investments LLC acquired a new position in Northern Trust in the 2nd quarter valued at about $30,000. Versant Capital Management Inc increased its stake 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 during the last quarter. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Northern Trust during the 3rd quarter valued at about $39,000. Institutional investors and hedge funds own 83.19% of the company’s stock.

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.