Northern Trust (NASDAQ:NTRS) Price Target Raised to $103.00 at Morgan Stanley

Northern Trust (NASDAQ:NTRS) had its target price boosted by Morgan Stanley from $97.00 to $103.00 in a report published on Thursday morning, Benzinga reports. The brokerage currently has an underweight rating on the asset manager’s stock.

NTRS has been the subject of a number of other reports. UBS Group raised their price objective on Northern Trust from $86.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Northern Trust from $84.00 to $94.00 and gave the company a “hold” rating in a report on Monday, September 23rd. Wells Fargo & Company lifted their target price on shares of Northern Trust from $92.00 to $108.00 and gave the stock an “equal weight” rating in a report on Thursday. Barclays raised their price objective on shares of Northern Trust from $98.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Thursday. Finally, Royal Bank of Canada upped their target price on Northern Trust from $100.00 to $107.00 and gave the company an “outperform” rating in a research report on Thursday. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $99.33.

Northern Trust Stock Down 2.5 %

Northern Trust stock opened at $100.19 on Thursday. Northern Trust has a fifty-two week low of $63.43 and a fifty-two week high of $104.25. The firm has a market capitalization of $20.50 billion, a PE ratio of 22.12, a P/E/G ratio of 1.65 and a beta of 1.08. The company’s 50-day moving average is $91.10 and its 200-day moving average is $86.73. 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 Announces Dividend

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

Insider Transactions at Northern Trust

In related news, EVP Teresa Parker sold 5,883 shares of the business’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 sale, the executive vice president now owns 83,765 shares in the company, 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 SEC, which is available at this hyperlink. In other news, 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 transaction of $494,524.98. Following the transaction, the executive vice president now owns 83,765 shares in the company, valued at approximately $7,041,285.90. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Charles A. Tribbett sold 1,855 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $88.12, for a total value of $163,462.60. Following the completion of the sale, the director now owns 1,000 shares in the company, valued at $88,120. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,738 shares of company stock worth $1,191,388. Corporate insiders own 0.64% of the company’s stock.

Hedge Funds Weigh In On Northern Trust

Several institutional investors have recently added to or reduced their stakes in NTRS. Olistico Wealth LLC bought a new position in shares of Northern Trust in the second quarter valued at $25,000. Innealta Capital LLC bought a new position in Northern Trust in the 2nd quarter valued at $26,000. Ridgewood Investments LLC bought a new position in Northern Trust during the second quarter valued at about $30,000. Versant Capital Management Inc increased its stake in shares of 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 purchasing an additional 337 shares during the last quarter. Finally, Northwest Investment Counselors LLC purchased a new stake in Northern Trust in the third quarter worth $39,000. 83.19% of the stock is owned by institutional investors and hedge funds.

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.