Northern Trust (NASDAQ:NTRS) Price Target Raised to $118.00

Northern Trust (NASDAQ:NTRS) had its price objective raised by Barclays from $115.00 to $118.00 in a research note released on Monday morning,Benzinga reports. Barclays currently has an equal weight rating on the asset manager’s stock.

A number of other brokerages have also weighed in on NTRS. StockNews.com upgraded Northern Trust from a “hold” rating to a “buy” rating in a research report on Tuesday, December 10th. Morgan Stanley cut their price target on shares of Northern Trust from $127.00 to $125.00 and set an “equal weight” rating on the stock in a report on Friday, January 3rd. Wells Fargo & Company upped their price objective on shares of Northern Trust from $108.00 to $110.00 and gave the stock an “equal weight” rating in a report on Friday, November 15th. Evercore ISI lifted their target price on shares of Northern Trust from $86.00 to $103.00 and gave the company an “in-line” rating in a research note on Thursday, October 24th. Finally, Royal Bank of Canada increased their price target on shares of Northern Trust from $100.00 to $107.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $107.17.

Northern Trust Stock Performance

Northern Trust stock opened at $102.22 on Monday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The firm has a market cap of $20.26 billion, a P/E ratio of 12.71, a P/E/G ratio of 1.18 and a beta of 1.08. Northern Trust has a 1-year low of $76.67 and a 1-year high of $111.87. The firm has a 50-day moving average of $105.64 and a 200-day moving average of $94.83.

Northern Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 1st. Investors of record on Friday, December 6th were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date of this dividend was Friday, December 6th. Northern Trust’s dividend payout ratio (DPR) is presently 37.31%.

Insiders Place Their Bets

In other Northern Trust news, insider Teresa Parker sold 4,439 shares of Northern Trust stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $100.86, for a total value of $447,717.54. Following the completion of the transaction, the insider now directly owns 79,326 shares of the company’s stock, valued at approximately $8,000,820.36. The trade was a 5.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Steven L. Fradkin sold 9,100 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $111.00, for a total transaction of $1,010,100.00. Following the sale, the insider now owns 47,797 shares in the company, valued at approximately $5,305,467. The trade was a 15.99 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 82,151 shares of company stock valued at $8,489,889. 0.64% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Northern Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allworth Financial LP raised its stake in shares of Northern Trust by 9.1% in the third quarter. Allworth Financial LP now owns 1,170 shares of the asset manager’s stock worth $105,000 after purchasing an additional 98 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its position in Northern Trust by 14.5% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 922 shares of the asset manager’s stock worth $83,000 after buying an additional 117 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its stake 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. Mesirow Financial Investment Management Inc. boosted its holdings in shares of Northern Trust by 0.4% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 35,673 shares of the asset manager’s stock valued at $3,212,000 after acquiring an additional 127 shares during the last quarter. Finally, Empirical Finance LLC grew its stake in shares of Northern Trust by 2.2% in the third quarter. Empirical Finance LLC now owns 7,164 shares of the asset manager’s stock worth $645,000 after acquiring an additional 152 shares during the period. 83.19% of the stock is owned by institutional investors.

About Northern Trust

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.