Northern Trust (NASDAQ:NTRS - Free Report) had its price objective boosted by Bank of America from $103.00 to $115.00 in a research note released on Thursday, Benzinga reports. The brokerage currently has a buy rating on the asset manager's stock.
NTRS has been the topic of a number of other research reports. UBS Group boosted 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. Keefe, Bruyette & Woods cut their price objective on shares of Northern Trust from $92.00 to $85.00 and set a "market perform" rating for the company in a research report on Thursday, June 27th. Morgan Stanley boosted their price objective on shares of Northern Trust from $97.00 to $103.00 and gave the company an "underweight" rating in a research note on Thursday. The Goldman Sachs Group cut 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 research note on Thursday, September 26th. Finally, Wells Fargo & Company upped their price target on shares of Northern Trust from $92.00 to $108.00 and gave the stock an "equal weight" rating in a report on Thursday. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Northern Trust has an average rating of "Hold" and a consensus price target of $99.33.
Check Out Our Latest Stock Report on Northern Trust
Northern Trust Stock Performance
Shares of NASDAQ NTRS traded up $0.28 during mid-day trading on Thursday, reaching $102.79. 2,102,713 shares of the company's stock were exchanged, compared to its average volume of 1,311,284. The firm has a 50-day moving average price of $90.51 and a two-hundred day moving average price of $86.53. 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 firm has a market capitalization of $21.03 billion, a price-to-earnings ratio of 22.69, a price-to-earnings-growth ratio of 1.44 and a beta of 1.08. Northern Trust has a 52 week low of $62.44 and a 52 week high of $104.25.
Northern Trust Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 6th will be given a dividend of $0.75 per share. The ex-dividend date is Friday, December 6th. This represents a $3.00 annualized dividend and a yield of 2.92%. Northern Trust's payout ratio is 66.23%.
Insider Transactions at Northern Trust
In other Northern Trust news, EVP Teresa Parker sold 5,883 shares of the firm's stock in a transaction 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 completion of the transaction, the executive vice president now owns 83,765 shares of the company's stock, valued at approximately $7,041,285.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Charles A. Tribbett sold 1,855 shares of the company's stock in a transaction that occurred 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 owns 1,000 shares in the company, valued at $88,120. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Teresa Parker sold 5,883 shares of Northern Trust stock in a transaction on Friday, August 9th. The shares were sold at an average price of $84.06, for a total value of $494,524.98. Following 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 position. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,738 shares of company stock valued at $1,191,388. Corporate insiders own 0.64% of the company's stock.
Institutional Investors Weigh In On Northern Trust
A number of institutional investors have recently modified their holdings of NTRS. Wealth Enhancement Advisory Services LLC increased its stake in Northern Trust by 2.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 12,861 shares of the asset manager's stock valued at $1,144,000 after purchasing an additional 302 shares in the last quarter. Romano Brothers AND Company raised its holdings in Northern Trust by 11.2% in the 1st quarter. Romano Brothers AND Company now owns 5,450 shares of the asset manager's stock worth $485,000 after acquiring an additional 548 shares during the last quarter. Aviance Capital Partners LLC lifted its position in Northern Trust by 8.3% in the 1st quarter. Aviance Capital Partners LLC now owns 9,301 shares of the asset manager's stock valued at $827,000 after acquiring an additional 716 shares in the last quarter. Diversified Trust Co boosted its stake in Northern Trust by 98.3% during the 1st quarter. Diversified Trust Co now owns 16,914 shares of the asset manager's stock valued at $1,504,000 after purchasing an additional 8,383 shares during the last quarter. Finally, Claro Advisors LLC increased its holdings in shares of Northern Trust by 18.3% in the 1st quarter. Claro Advisors LLC now owns 9,439 shares of the asset manager's stock worth $839,000 after purchasing an additional 1,460 shares in the last quarter. 83.19% of the stock is owned by hedge funds and other institutional investors.
Northern Trust Company Profile
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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.
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