Northern Trust (NASDAQ:NTRS) Sets New 52-Week High - Here's Why

Northern Trust Co. (NASDAQ:NTRS - Get Free Report) reached a new 52-week high during trading on Wednesday . The stock traded as high as $100.51 and last traded at $100.51, with a volume of 13209 shares changing hands. The stock had previously closed at $95.79.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on NTRS shares. The Goldman Sachs Group downgraded shares of Northern Trust from a "neutral" rating to a "sell" rating and lowered their target price for the stock from $84.00 to $82.00 in a report on Thursday, September 26th. UBS Group upped their target price on shares of Northern Trust from $86.00 to $92.00 and gave the company a "neutral" rating in a report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft lifted their price target on Northern Trust from $84.00 to $94.00 and gave the stock a "hold" rating in a report on Monday, September 23rd. Keefe, Bruyette & Woods dropped their price objective on Northern Trust from $92.00 to $85.00 and set a "market perform" rating on the stock in a research note on Thursday, June 27th. Finally, Morgan Stanley lifted their target price on Northern Trust from $93.00 to $97.00 and gave the stock an "underweight" rating in a research note on Monday, September 30th. Three analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $92.18.

Northern Trust Stock Performance

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's 50-day moving average price is $90.51 and its 200-day moving average price is $86.53. The company has a market cap of $20.97 billion, a P/E ratio of 22.63, a PEG ratio of 1.44 and a beta of 1.08.

Insiders Place Their Bets

In other Northern Trust news, EVP Teresa Parker sold 5,883 shares of Northern Trust stock in a transaction on Friday, August 9th. The stock was sold at an average price of $84.06, for a total value of $494,524.98. Following the completion of the transaction, the executive vice president now directly owns 83,765 shares of the company's stock, valued at $7,041,285.90. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Teresa Parker sold 5,883 shares of the business's stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $84.06, for a total value of $494,524.98. Following the completion of the transaction, the executive vice president now owns 83,765 shares of the company's stock, valued at $7,041,285.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Mark C. Gossett sold 6,000 shares of the business'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 transaction 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 $2,552,052.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 13,738 shares of company stock worth $1,191,388 in the last quarter. Corporate insiders own 0.64% of the company's stock.

Hedge Funds Weigh In On Northern Trust

Several hedge funds and other institutional investors have recently modified their holdings of the business. Olistico Wealth LLC acquired a new position in Northern Trust during the 2nd quarter worth approximately $25,000. Innealta Capital LLC bought a new position in shares of Northern Trust in the 2nd quarter valued at $26,000. Ridgewood Investments LLC acquired a new stake in shares of Northern Trust during the 2nd quarter valued at $30,000. Versant Capital Management Inc grew its position in Northern Trust by 343.9% during the 2nd quarter. Versant Capital Management Inc now owns 435 shares of the asset manager's stock worth $37,000 after acquiring an additional 337 shares during the last quarter. Finally, Northwest Investment Counselors LLC acquired a new position in Northern Trust in the 3rd quarter worth about $39,000. Institutional investors 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.