Northern Trust (NASDAQ:NTRS) had its price target hoisted by stock analysts at Morgan Stanley from $91.00 to $104.00 in a research note issued to investors on Thursday. The brokerage presently has an “underweight” rating on the asset manager’s stock. Morgan Stanley’s price target suggests a potential downside of 2.04% from the stock’s current price.
Other equities analysts also recently issued research reports about the company. Sandler O’Neill reaffirmed a “hold” rating and set a $105.00 price target on shares of Northern Trust in a research report on Wednesday, January 10th. Credit Suisse Group upped their price objective on Northern Trust from $99.00 to $100.00 and gave the stock a “neutral” rating in a research note on Thursday. Vining Sparks reiterated a “buy” rating and set a $118.00 price objective on shares of Northern Trust in a research note on Wednesday. BidaskClub cut Northern Trust from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Zacks Investment Research upgraded Northern Trust from a “hold” rating to a “buy” rating and set a $110.00 price objective on the stock in a research note on Tuesday, December 19th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $102.75.
Northern Trust (NASDAQ NTRS) traded down $0.72 during trading hours on Thursday, reaching $106.17. The company’s stock had a trading volume of 2,271,800 shares, compared to its average volume of 1,111,188. Northern Trust has a 52-week low of $81.92 and a 52-week high of $108.91. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.37. The firm has a market cap of $24,309.04, a P/E ratio of 23.49, a P/E/G ratio of 1.60 and a beta of 0.97.
In other Northern Trust news, insider Peter Cherecwich sold 5,128 shares of the company’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $97.63, for a total value of $500,646.64. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Vice Chairman William L. Morrison sold 30,000 shares of the company’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $96.48, for a total value of $2,894,400.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 126,695 shares of company stock worth $12,390,150. 1.27% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Veritable L.P. grew its holdings in Northern Trust by 0.5% in the 2nd quarter. Veritable L.P. now owns 7,941 shares of the asset manager’s stock valued at $772,000 after buying an additional 42 shares in the last quarter. Salem Investment Counselors Inc. grew its holdings in Northern Trust by 8.3% in the 2nd 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 in the last quarter. D.A. Davidson & CO. grew its holdings in Northern Trust by 4.2% in the 2nd quarter. D.A. Davidson & CO. now owns 3,670 shares of the asset manager’s stock valued at $356,000 after buying an additional 148 shares in the last quarter. Moors & Cabot Inc. grew its holdings in shares of Northern Trust by 6.9% during the 2nd quarter. Moors & Cabot Inc. now owns 2,868 shares of the asset manager’s stock worth $278,000 after purchasing an additional 185 shares in the last quarter. Finally, Thrivent Financial For Lutherans grew its holdings in shares of Northern Trust by 3.4% during the 2nd quarter. Thrivent Financial For Lutherans now owns 8,170 shares of the asset manager’s stock worth $794,000 after purchasing an additional 270 shares in 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.
