Northern Trust (NASDAQ:NTRS) had its price objective upped by investment analysts at Credit Suisse Group from $99.00 to $100.00 in a report released on Thursday. The firm currently has a “neutral” rating on the asset manager’s stock. Credit Suisse Group’s target price would suggest a potential downside of 5.81% from the company’s current price.
Several other research analysts have also issued reports on NTRS. Bank of America set a $102.00 target price on Northern Trust and gave the company a “buy” rating in a research report on Thursday, October 19th. Zacks Investment Research raised shares of Northern Trust from a “hold” rating to a “buy” rating and set a $110.00 price objective for the company in a research note on Tuesday, December 19th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $110.00 price objective on shares of Northern Trust in a research note on Friday, December 22nd. Citigroup reissued a “neutral” rating and issued a $92.00 price objective (up previously from $90.00) on shares of Northern Trust in a research note on Monday, October 9th. Finally, Barclays upped their price target on Northern Trust from $102.00 to $114.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $102.75.
Shares of Northern Trust (NTRS) traded down $0.72 during trading hours on Thursday, hitting $106.17. The company had a trading volume of 2,271,800 shares, compared to its average volume of 1,111,188. The stock has a market capitalization of $24,309.04, a PE ratio of 23.49, a price-to-earnings-growth ratio of 1.60 and a beta of 0.97. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.71 and a current ratio of 0.71. Northern Trust has a one year low of $81.92 and a one year high of $108.91.
In other Northern Trust news, CEO Frederick H. Waddell sold 44,658 shares of Northern Trust stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $97.95, for a total value of $4,374,251.10. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, COO Jana R. Schreuder sold 2,600 shares of Northern Trust stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $99.02, for a total transaction of $257,452.00. The disclosure for this sale can be found here. Insiders sold a total of 126,695 shares of company stock worth $12,390,150 over the last 90 days. Company insiders own 1.27% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in NTRS. Field & Main Bank acquired a new position in Northern Trust during the fourth quarter worth about $100,000. Salem Investment Counselors Inc. raised its position in shares of Northern Trust by 8.3% in the second quarter. Salem Investment Counselors Inc. now owns 1,083 shares of the asset manager’s stock valued at $105,000 after buying an additional 83 shares during the last quarter. Cerebellum GP LLC acquired a new position in Northern Trust during the fourth quarter worth approximately $132,000. MPS Loria Financial Planners LLC acquired a new position in Northern Trust during the second quarter worth approximately $134,000. Finally, Sun Life Financial INC boosted its stake in Northern Trust by 15,740.0% during the 2nd quarter. Sun Life Financial INC now owns 1,584 shares of the asset manager’s stock valued at $154,000 after acquiring an additional 1,574 shares during the last quarter. 81.47% of the stock is currently owned by hedge funds and other institutional investors.
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About Northern Trust
Northern Trust Corporation is a financial holding company. The Company provides asset servicing, fund administration, asset management, fiduciary and banking solutions for corporations, institutions, families and individuals across the world. Its segments include Corporate & Institutional Services (C&IS), Wealth Management, and Treasury and Other.
