Bank of America Increases Northern Trust (NASDAQ:NTRS) Price Target to $115.00

Northern Trust (NASDAQ:NTRS) had its target price hoisted by Bank of America from $103.00 to $115.00 in a research note published on Thursday morning, Benzinga reports. The firm currently has a buy rating on the asset manager’s stock.

Several other analysts also recently commented on the company. UBS Group increased their price objective on Northern Trust from $86.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 8th. Morgan Stanley upped their target price on shares of Northern Trust from $97.00 to $103.00 and gave the stock an “underweight” rating in a research note on Thursday. Barclays raised their price target 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. Royal Bank of Canada upped their price objective on shares of Northern Trust from $100.00 to $107.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Northern Trust from $84.00 to $94.00 and gave the stock a “hold” rating in a research report on Monday, September 23rd. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Northern Trust currently has an average rating of “Hold” and an average price target of $99.33.

Northern Trust Trading Down 2.5 %

NASDAQ:NTRS opened at $100.19 on Thursday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71. Northern Trust has a one year low of $63.43 and a one year high of $104.25. The company has a market cap of $20.50 billion, a PE ratio of 22.12, a PEG ratio of 1.65 and a beta of 1.08. The firm has a 50-day moving average of $91.10 and a 200-day moving average of $86.73.

Northern Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 6th will be issued a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.00 dividend on an annualized basis and a yield of 2.99%. Northern Trust’s payout ratio is 66.23%.

Insider Transactions at Northern Trust

In related news, Director Charles A. Tribbett sold 1,855 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $88.12, for a total transaction of $163,462.60. Following the sale, the director now directly owns 1,000 shares in the company, valued at approximately $88,120. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 shares were sold at an average price of $88.12, for a total transaction of $163,462.60. Following the sale, the director now owns 1,000 shares of the company’s stock, valued at approximately $88,120. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Mark C. Gossett sold 6,000 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $88.90, for a total value of $533,400.00. Following the completion of the sale, the executive vice president now owns 28,707 shares in the company, valued at $2,552,052.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,738 shares of company stock valued at $1,191,388 over the last three months. Company insiders own 0.64% of the company’s stock.

Hedge Funds Weigh In On Northern Trust

A number of large investors have recently modified their holdings of the company. Allworth Financial LP boosted its stake in shares of Northern Trust by 9.1% in the 3rd quarter. Allworth Financial LP now owns 1,170 shares of the asset manager’s stock valued at $105,000 after purchasing an additional 98 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its stake in shares of Northern Trust by 14.5% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 922 shares of the asset manager’s stock valued at $83,000 after acquiring an additional 117 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in Northern Trust by 0.3% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 43,713 shares of the asset manager’s stock valued at $3,608,000 after acquiring an additional 120 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Northern Trust by 1.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 10,584 shares of the asset manager’s stock worth $889,000 after purchasing an additional 131 shares during the period. Finally, Koshinski Asset Management Inc. lifted its position in Northern Trust by 2.4% in the third quarter. Koshinski Asset Management Inc. now owns 6,488 shares of the asset manager’s stock valued at $584,000 after purchasing an additional 153 shares during the last quarter. 83.19% of the stock is 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.