Northern Trust (NASDAQ:NTRS) had its price target upped by stock analysts at Bank of America from $112.00 to $116.00 in a research report issued to clients and investors on Thursday. The brokerage currently has a “buy” rating on the asset manager’s stock. Bank of America’s price objective indicates a potential upside of 10.47% from the stock’s current price.
Several other research analysts have also weighed in on NTRS. Citigroup reaffirmed a “neutral” rating and issued a $92.00 target price (up from $90.00) on shares of Northern Trust in a research report on Monday, October 9th. Zacks Investment Research lowered Northern Trust from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. UBS Group upped their target price on Northern Trust from $100.00 to $109.00 and gave the stock a “buy” rating in a research report on Thursday, October 19th. Buckingham Research upped their target price on Northern Trust from $95.00 to $97.00 and gave the stock a “neutral” rating in a research report on Thursday, October 19th. Finally, Morgan Stanley upped their target price on Northern Trust from $83.00 to $91.00 and gave the stock an “underweight” rating in a research report on Thursday, October 19th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $104.44.
Shares of Northern Trust (NASDAQ NTRS) traded down $1.16 during mid-day trading on Thursday, reaching $105.01. The company’s stock had a trading volume of 1,545,753 shares, compared to its average volume of 1,111,188. 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 12 month low of $81.92 and a 12 month high of $108.91. The firm has a market cap of $23,880.00, a price-to-earnings ratio of 21.30, a P/E/G ratio of 1.60 and a beta of 0.96.
In other news, CEO Frederick H. Waddell sold 44,658 shares of the stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $97.95, for a total transaction of $4,374,251.10. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Vice Chairman William L. Morrison sold 30,000 shares of the stock in a transaction dated 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 three months, insiders have sold 126,695 shares of company stock worth $12,390,150. 1.27% of the stock is currently owned by insiders.
A number of large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its stake in Northern Trust by 0.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 8,262,483 shares of the asset manager’s stock valued at $759,569,000 after purchasing an additional 41,048 shares during the period. Burgundy Asset Management Ltd. boosted its stake in Northern Trust by 0.6% during the 3rd quarter. Burgundy Asset Management Ltd. now owns 2,386,800 shares of the asset manager’s stock valued at $219,419,000 after purchasing an additional 13,249 shares during the period. Bank of New York Mellon Corp boosted its stake in Northern Trust by 14.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,965,535 shares of the asset manager’s stock valued at $180,691,000 after purchasing an additional 255,106 shares during the period. Wells Fargo & Company MN boosted its stake in Northern Trust by 1.0% during the 3rd quarter. Wells Fargo & Company MN now owns 1,945,383 shares of the asset manager’s stock valued at $178,838,000 after purchasing an additional 19,884 shares during the period. Finally, Alyeska Investment Group L.P. bought a new stake in Northern Trust during the 3rd quarter valued at approximately $128,778,000. Hedge funds and other institutional investors own 81.47% of the company’s stock.
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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.
