Northern Trust (NASDAQ:NTRS) had its target price raised by equities researchers at Royal Bank of Canada to $110.00 in a report issued on Thursday. The brokerage presently has an “outperform” rating on the asset manager’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 4.75% from the company’s previous close.
A number of other brokerages have also recently weighed in on NTRS. Credit Suisse Group lifted their price objective on Northern Trust from $99.00 to $100.00 and gave the company a “neutral” rating in a research note on Thursday. UBS Group lifted their target price on Northern Trust from $100.00 to $109.00 and gave the company a “buy” rating in a report on Thursday, October 19th. BidaskClub upgraded Northern Trust from a “hold” rating to a “buy” rating in a report on Saturday, January 13th. Morgan Stanley lifted their target price on Northern Trust from $91.00 to $104.00 and gave the company an “underweight” rating in a report on Thursday. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $110.00 target price on shares of Northern Trust in a report on Friday, December 22nd. One equities research analyst has rated the stock with a sell rating, ten have given 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 price target of $104.44.
Shares of Northern Trust (NTRS) traded down $1.16 during midday trading on Thursday, hitting $105.01. The stock had a trading volume of 1,545,753 shares, compared to its average volume of 1,010,000. Northern Trust has a twelve month low of $81.92 and a twelve month high of $108.91. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.71 and a quick ratio of 0.71. The firm has a market capitalization of $23,880.00, a PE ratio of 21.30, a PEG ratio of 1.60 and a beta of 0.96.
In other Northern Trust news, EVP Clair Joyce St sold 18,489 shares of Northern Trust stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $97.51, for a total transaction of $1,802,862.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Peter Cherecwich sold 7,331 shares of Northern Trust stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $99.09, for a total value of $726,428.79. The disclosure for this sale can be found here. Insiders have sold a total of 126,695 shares of company stock valued at $12,390,150 over the last ninety days. 1.27% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in NTRS. Field & Main Bank purchased a new stake in shares of Northern Trust in the 4th quarter valued at about $100,000. Salem Investment Counselors Inc. lifted its holdings in shares of 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 purchasing an additional 83 shares during the last quarter. Cerebellum GP LLC purchased a new stake in shares of Northern Trust in the 4th quarter valued at about $132,000. MPS Loria Financial Planners LLC purchased a new stake in shares of Northern Trust in the 2nd quarter valued at about $134,000. Finally, Sun Life Financial INC lifted its holdings in shares of Northern Trust by 15,740.0% in the 2nd quarter. Sun Life Financial INC now owns 1,584 shares of the asset manager’s stock valued at $154,000 after purchasing an additional 1,574 shares during the last quarter. 81.47% of the stock is owned by 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.
