Northern Trust (NASDAQ:NTRS) Price Target Raised to $113.00 at Keefe, Bruyette & Woods

Northern Trust (NASDAQ:NTRS) had its price objective upped by research analysts at Keefe, Bruyette & Woods from $100.00 to $113.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “market perform” rating on the asset manager’s stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 2.83% from the stock’s previous close.

A number of other equities research analysts also recently commented on NTRS. Bank of America increased their price objective on Northern Trust from $103.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. UBS Group lifted their target price on Northern Trust from $86.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, October 8th. Morgan Stanley upped their price objective on shares of Northern Trust from $97.00 to $103.00 and gave the company an “underweight” rating in a report on Thursday, October 24th. Royal Bank of Canada boosted their target price on shares of Northern Trust from $100.00 to $107.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, StockNews.com downgraded Northern Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, November 27th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $103.00.

Northern Trust Stock Performance

NASDAQ:NTRS opened at $109.89 on Tuesday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. The stock has a market cap of $21.78 billion, a PE ratio of 13.67, a price-to-earnings-growth ratio of 1.25 and a beta of 1.07. Northern Trust has a fifty-two week low of $76.67 and a fifty-two week high of $111.87. The firm’s fifty day simple moving average is $100.10 and its 200-day simple moving average is $90.82.

Insider Transactions at Northern Trust

In other news, Director Charles A. Tribbett sold 1,855 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $88.12, for a total value of $163,462.60. Following the sale, the director now owns 1,000 shares of the company’s stock, valued at $88,120. The trade was a 64.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Thomas A. South sold 5,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $105.80, for a total transaction of $529,000.00. Following the completion of the sale, the executive vice president now directly owns 49,756 shares of the company’s stock, valued at approximately $5,264,184.80. This represents a 9.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 74,906 shares of company stock worth $7,643,252 over the last quarter. Company insiders own 0.64% of the company’s stock.

Institutional Trading of Northern Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FMR LLC boosted its position in shares of Northern Trust by 9.3% during the 3rd quarter. FMR LLC now owns 18,187,663 shares of the asset manager’s stock worth $1,637,435,000 after acquiring an additional 1,542,685 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings 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 valued at $622,596,000 after buying an additional 850,556 shares during the last quarter. Panagora Asset Management Inc. raised its holdings in shares of Northern Trust by 4,660.5% during the second quarter. Panagora Asset Management Inc. now owns 399,932 shares of the asset manager’s stock valued at $33,586,000 after buying an additional 391,531 shares during the last quarter. Primecap Management Co. CA raised its holdings in shares of Northern Trust by 3.9% in the 2nd quarter. Primecap Management Co. CA now owns 7,046,757 shares of the asset manager’s stock worth $591,787,000 after purchasing an additional 261,285 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Northern Trust by 12.3% during 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 during the period. Institutional investors and hedge funds 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.