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

Northern Trust (NASDAQ:NTRS) had its price target upped by Wells Fargo & Company from $108.00 to $110.00 in a research note published on Friday,Benzinga reports. They currently have an equal weight rating on the asset manager’s stock.

A number of other research firms have also weighed in on NTRS. UBS Group boosted 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. Evercore ISI boosted their price objective on Northern Trust from $86.00 to $103.00 and gave the stock an “in-line” rating in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft boosted their price objective on Northern Trust from $100.00 to $108.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. The Goldman Sachs Group downgraded Northern Trust from a “neutral” rating to a “sell” rating and reduced their target price for the company from $84.00 to $82.00 in a research report on Thursday, September 26th. Finally, Morgan Stanley lifted their target price on Northern Trust from $97.00 to $103.00 and gave the company an “underweight” rating in a research report on Thursday, October 24th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given 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 $100.67.

Northern Trust Trading Up 1.5 %

NASDAQ NTRS traded up $1.64 on Friday, reaching $107.60. 1,955,051 shares of the company were exchanged, compared to its average volume of 1,302,822. The business’s fifty day moving average price is $95.68 and its 200 day moving average price is $88.86. The stock has a market capitalization of $21.33 billion, a P/E ratio of 13.38, a price-to-earnings-growth 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 has a fifty-two week low of $73.98 and a fifty-two week high of $108.53.

Northern Trust Dividend Announcement

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

Insider Activity at Northern Trust

In related news, Vice Chairman Steven L. Fradkin sold 27,874 shares of the business’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $100.50, for a total transaction of $2,801,337.00. Following the completion of the transaction, the insider now directly owns 46,078 shares of the company’s stock, valued at $4,630,839. The trade was a 37.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 value of $163,462.60. Following the transaction, the director now directly owns 1,000 shares of the company’s stock, valued at $88,120. The trade was a 64.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 80,906 shares of company stock worth $8,176,652. 0.64% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NTRS. Empowered Funds LLC boosted its position in shares of Northern Trust by 103.6% during the 1st quarter. Empowered Funds LLC now owns 4,987 shares of the asset manager’s stock worth $443,000 after acquiring an additional 2,537 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Northern Trust by 15.2% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 246,319 shares of the asset manager’s stock worth $21,903,000 after acquiring an additional 32,534 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of Northern Trust by 4.3% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 119,389 shares of the asset manager’s stock valued at $10,610,000 after purchasing an additional 4,955 shares during the period. Intech Investment Management LLC boosted its position in shares of Northern Trust by 1,891.1% in the 1st quarter. Intech Investment Management LLC now owns 56,845 shares of the asset manager’s stock valued at $5,055,000 after purchasing an additional 53,990 shares during the period. Finally, Acadian Asset Management LLC boosted its position in shares of Northern Trust by 4,646.7% in the 1st quarter. Acadian Asset Management LLC now owns 29,097 shares of the asset manager’s stock valued at $2,585,000 after purchasing an additional 28,484 shares during the period. 83.19% of the stock is owned by institutional investors and hedge funds.

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.