Northern Trust (NASDAQ:NTRS) Price Target Raised to $110.00 at Wells Fargo & Company

Northern Trust (NASDAQ:NTRS) had its price objective boosted by Wells Fargo & Company from $108.00 to $110.00 in a research note released on Friday morning,Benzinga reports. The brokerage currently has an equal weight rating on the asset manager’s stock.

NTRS has been the topic of a number of other research reports. StockNews.com raised Northern Trust from a “hold” rating to a “buy” rating in a research report on Tuesday. Bank of America raised their price objective on Northern Trust from $103.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Evercore ISI increased their price target on Northern Trust from $86.00 to $103.00 and gave the company an “in-line” rating in a research note on Thursday, October 24th. Royal Bank of Canada increased their price target on Northern Trust from $100.00 to $107.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, Morgan Stanley increased their price target on Northern Trust from $97.00 to $103.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $100.67.

Northern Trust Stock Up 1.5 %

Shares of NTRS traded up $1.64 during midday trading on Friday, reaching $107.60. 1,955,051 shares of the stock were exchanged, compared to its average volume of 1,302,822. Northern Trust has a 52 week low of $73.98 and a 52 week high of $108.53. The company’s 50 day moving average is $95.68 and its two-hundred day moving average is $88.86. The company has a market capitalization of $21.33 billion, a P/E ratio of 13.38, a PEG ratio of 1.20 and a beta of 1.06. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58.

Northern Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 6th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.79%. The ex-dividend date of this dividend is Friday, December 6th. Northern Trust’s dividend payout ratio is currently 37.31%.

Insider Activity at Northern Trust

In other Northern Trust news, EVP Mark C. Gossett sold 6,000 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 28,707 shares of the company’s stock, valued at approximately $2,552,052.30. This trade represents a 17.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Peter Cherecwich sold 16,153 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $105.18, for a total value of $1,698,972.54. Following the completion of the sale, the chief operating officer now directly owns 4,397 shares in the company, valued at approximately $462,476.46. The trade was a 78.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 80,906 shares of company stock worth $8,176,652. 0.64% of the stock is owned by corporate insiders.

Institutional Trading of Northern Trust

Institutional investors have recently bought and sold shares of the business. CANADA LIFE ASSURANCE Co grew its holdings in Northern Trust by 6.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 360,640 shares of the asset manager’s stock valued at $32,111,000 after purchasing an additional 23,020 shares during the period. Bessemer Group Inc. boosted its stake in shares of Northern Trust by 668.0% in the first quarter. Bessemer Group Inc. now owns 20,205 shares of the asset manager’s stock worth $1,797,000 after acquiring an additional 17,574 shares during the last quarter. Intech Investment Management LLC boosted its stake in shares of Northern Trust by 1,891.1% in the first quarter. Intech Investment Management LLC now owns 56,845 shares of the asset manager’s stock worth $5,055,000 after acquiring an additional 53,990 shares during the last quarter. Swedbank AB acquired a new stake in shares of Northern Trust in the first quarter worth approximately $1,407,000. Finally, Tidal Investments LLC boosted its stake in shares of Northern Trust by 141.3% in the first quarter. Tidal Investments LLC now owns 13,771 shares of the asset manager’s stock worth $1,224,000 after acquiring an additional 8,063 shares during the last quarter. 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.