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

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

Several other research firms have also commented on NTRS. Royal Bank of Canada increased their price objective on shares of Northern Trust from $100.00 to $107.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. The Goldman Sachs Group lowered Northern Trust from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $84.00 to $82.00 in a research report on Thursday, September 26th. StockNews.com raised Northern Trust from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Evercore ISI raised their price objective 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. Finally, UBS Group boosted their target price on Northern Trust from $86.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, October 8th. Three 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’s stock. According to MarketBeat, 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 opened at $107.60 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71. The stock has a market capitalization of $21.33 billion, a price-to-earnings ratio of 13.38, a price-to-earnings-growth ratio of 1.21 and a beta of 1.06. Northern Trust has a 1 year low of $73.98 and a 1 year high of $108.53. The business’s 50 day simple moving average is $95.68 and its 200-day simple moving average is $88.94.

Northern Trust Dividend Announcement

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

Insider Transactions at Northern Trust

In other news, EVP Thomas A. South sold 5,000 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $105.80, for a total transaction of $529,000.00. Following the transaction, the executive vice president now owns 49,756 shares in the company, valued at approximately $5,264,184.80. This trade represents a 9.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Peter Cherecwich sold 16,153 shares of Northern Trust stock in a transaction dated 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 owns 4,397 shares of the company’s stock, valued at $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 have sold 80,906 shares of company stock worth $8,176,652. Insiders own 0.64% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NTRS. FMR LLC lifted its position in shares of Northern Trust by 9.3% in the 3rd quarter. FMR LLC now owns 18,187,663 shares of the asset manager’s stock worth $1,637,435,000 after purchasing an additional 1,542,685 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Northern Trust by 13.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 7,413,620 shares of the asset manager’s stock worth $622,596,000 after buying an additional 850,556 shares in the last quarter. Primecap Management Co. CA lifted its holdings in Northern Trust by 0.5% during the third quarter. Primecap Management Co. CA now owns 7,085,117 shares of the asset manager’s stock worth $637,873,000 after buying an additional 38,360 shares during the period. Ariel Investments LLC boosted its position in Northern Trust by 3.6% during the 2nd quarter. Ariel Investments LLC now owns 2,644,205 shares of the asset manager’s stock valued at $222,060,000 after acquiring an additional 91,816 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Northern Trust by 12.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,003,675 shares of the asset manager’s stock worth $168,253,000 after acquiring an additional 219,387 shares in the last quarter. Hedge funds and other institutional investors own 83.19% of the company’s stock.

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.