Wells Fargo & Company Forecasts Strong Price Appreciation for Northern Trust (NASDAQ:NTRS) Stock

Northern Trust (NASDAQ:NTRS) had its price objective hoisted by Wells Fargo & Company from $108.00 to $110.00 in a research report report published on Friday,Benzinga reports. The brokerage currently has an equal weight rating on the asset manager’s stock.

Other equities analysts have also issued research reports about the stock. StockNews.com raised shares of Northern Trust from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft raised their price target on Northern Trust from $100.00 to $108.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Bank of America upped their price objective on Northern Trust from $103.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. UBS Group boosted their target price on Northern Trust from $86.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 8th. Finally, Evercore ISI lifted their price target on shares of Northern Trust from $86.00 to $103.00 and gave the stock an “in-line” rating in a research note on Thursday, October 24th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $100.67.

Northern Trust Price Performance

NASDAQ:NTRS opened at $108.93 on Friday. Northern Trust has a 52-week low of $74.63 and a 52-week high of $109.54. The stock has a fifty day moving average of $96.10 and a 200 day moving average of $89.12. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a market capitalization of $21.59 billion, a price-to-earnings ratio of 13.55, a P/E/G ratio of 1.21 and a beta of 1.06.

Northern Trust Dividend Announcement

The firm 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 is Friday, December 6th. This represents a $3.00 annualized dividend and a dividend yield of 2.75%. Northern Trust’s payout ratio is 37.31%.

Insiders Place Their Bets

In other news, Director Charles A. Tribbett sold 1,855 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $88.12, for a total value of $163,462.60. Following the sale, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $88,120. This represents a 64.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Vice Chairman Steven L. Fradkin sold 27,874 shares of the company’s stock in a transaction dated Friday, October 25th. The stock was 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 owns 46,078 shares in the company, valued at approximately $4,630,839. The trade was a 37.69 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 80,906 shares of company stock worth $8,176,652. 0.64% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Northern Trust

Hedge funds have recently added to or reduced their stakes in the company. CANADA LIFE ASSURANCE Co grew its stake in shares of Northern Trust by 6.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 360,640 shares of the asset manager’s stock worth $32,111,000 after acquiring an additional 23,020 shares during the period. Bessemer Group Inc. increased its position in Northern Trust by 668.0% during the first quarter. Bessemer Group Inc. now owns 20,205 shares of the asset manager’s stock valued at $1,797,000 after acquiring an additional 17,574 shares during the last quarter. Intech Investment Management LLC lifted its holdings in Northern Trust by 1,891.1% in the first quarter. Intech Investment Management LLC now owns 56,845 shares of the asset manager’s stock valued at $5,055,000 after acquiring an additional 53,990 shares during the period. Swedbank AB bought a new stake in shares of Northern Trust during the 1st quarter valued at about $1,407,000. Finally, Tidal Investments LLC increased its position in shares of Northern Trust by 141.3% during the 1st quarter. Tidal Investments LLC now owns 13,771 shares of the asset manager’s stock valued at $1,224,000 after purchasing an additional 8,063 shares during the last quarter. 83.19% of the stock is currently owned by hedge funds and other 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.