Bank of America Boosts Northern Trust (NASDAQ:NTRS) Price Target to $115.00

Northern Trust (NASDAQ:NTRS) had its price target upped by Bank of America from $103.00 to $115.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the asset manager’s stock. Bank of America‘s price objective indicates a potential upside of 14.78% from the company’s current price.

Other equities research analysts also recently issued reports about the company. Keefe, Bruyette & Woods reduced their price objective on Northern Trust from $92.00 to $85.00 and set a “market perform” rating for the company in a report on Thursday, June 27th. Wells Fargo & Company upped their price objective on Northern Trust from $92.00 to $108.00 and gave the stock an “equal weight” rating in a research note on Thursday. Evercore ISI boosted their price objective on Northern Trust from $86.00 to $103.00 and gave the company an “in-line” rating in a research note on Thursday. UBS Group boosted their price objective on Northern Trust from $86.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, October 8th. Finally, Morgan Stanley upped their target price on shares of Northern Trust from $97.00 to $103.00 and gave the stock an “underweight” rating in a research report on Thursday. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $99.33.

Northern Trust Stock Performance

NTRS stock opened at $100.19 on Thursday. The stock has a market capitalization of $20.50 billion, a PE ratio of 22.12, a price-to-earnings-growth ratio of 1.65 and a beta of 1.08. The stock’s 50 day simple moving average is $90.84 and its 200 day simple moving average is $86.64. Northern Trust has a 12-month low of $63.43 and a 12-month high of $104.25. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58.

Insider Buying and Selling at Northern Trust

In other news, EVP Mark C. Gossett sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $88.90, for a total transaction of $533,400.00. Following the transaction, the executive vice president now directly owns 28,707 shares of the company’s stock, valued at approximately $2,552,052.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP Mark C. Gossett sold 6,000 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $88.90, for a total transaction of $533,400.00. Following the transaction, the executive vice president now owns 28,707 shares of the company’s stock, valued at approximately $2,552,052.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Teresa Parker sold 5,883 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $84.06, for a total value of $494,524.98. Following the transaction, the executive vice president now owns 83,765 shares in the company, valued at approximately $7,041,285.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,738 shares of company stock valued at $1,191,388 in the last three months. Company insiders own 0.64% of the company’s stock.

Institutional Investors Weigh In On Northern Trust

Several hedge funds have recently modified their holdings of NTRS. CANADA LIFE ASSURANCE Co raised its stake in Northern Trust by 6.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 360,640 shares of the asset manager’s stock worth $32,111,000 after buying an additional 23,020 shares in the last quarter. Sequoia Financial Advisors LLC raised its position in shares of Northern Trust by 557.8% in the 1st quarter. Sequoia Financial Advisors LLC now owns 30,813 shares of the asset manager’s stock worth $2,740,000 after acquiring an additional 26,129 shares in the last quarter. Bessemer Group Inc. lifted its stake in shares of Northern Trust by 668.0% during the 1st quarter. Bessemer Group Inc. now owns 20,205 shares of the asset manager’s stock worth $1,797,000 after purchasing an additional 17,574 shares during the last quarter. AIA Group Ltd boosted its position in Northern Trust by 4.3% during the first quarter. AIA Group Ltd now owns 602,785 shares of the asset manager’s stock valued at $53,600,000 after purchasing an additional 24,791 shares in the last quarter. Finally, Intech Investment Management LLC grew its stake in Northern Trust by 1,891.1% in the first quarter. Intech Investment Management LLC now owns 56,845 shares of the asset manager’s stock valued at $5,055,000 after purchasing an additional 53,990 shares during the last quarter. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Northern Trust Company Profile

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.