Brokerages Set Northern Trust Co. (NASDAQ:NTRS) Price Target at $99.33

Northern Trust Co. (NASDAQ:NTRS) has earned a consensus recommendation of “Hold” from the twelve ratings firms that are covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $99.33.

Several research firms recently issued reports on NTRS. Wells Fargo & Company increased their price target on shares of Northern Trust from $92.00 to $108.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 24th. Morgan Stanley boosted their price target on Northern Trust from $97.00 to $103.00 and gave the stock an “underweight” rating in a report on Thursday, October 24th. Evercore ISI raised their target price on Northern Trust from $86.00 to $103.00 and gave the stock an “in-line” rating in a research report on Thursday, October 24th. UBS Group upped their target price on Northern Trust from $86.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Northern Trust from $84.00 to $94.00 and gave the stock a “hold” rating in a research note on Monday, September 23rd.

Insider Activity

In related news, EVP Mark C. Gossett sold 6,000 shares of Northern Trust stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $88.90, for a total value of $533,400.00. Following the completion of the sale, the executive vice president now 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, EVP Teresa Parker sold 5,883 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $84.06, for a total transaction of $494,524.98. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Mark C. Gossett sold 6,000 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $88.90, for a total value of $533,400.00. Following the transaction, the executive vice president now owns 28,707 shares in the company, valued at approximately $2,552,052.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,738 shares of company stock worth $1,191,388 over the last quarter. 0.64% of the stock is currently owned by corporate insiders.

Institutional Trading of Northern Trust

Several institutional investors and hedge funds have recently made changes to their positions in NTRS. Massachusetts Financial Services Co. MA lifted its holdings in Northern Trust by 13.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,413,620 shares of the asset manager’s stock worth $622,596,000 after acquiring an additional 850,556 shares during the period. Primecap Management Co. CA increased its position in shares of Northern Trust by 3.9% during the 2nd quarter. Primecap Management Co. CA now owns 7,046,757 shares of the asset manager’s stock valued at $591,787,000 after purchasing an additional 261,285 shares during the last quarter. Ariel Investments LLC increased its position in shares of Northern Trust by 3.6% during the 2nd quarter. Ariel Investments LLC now owns 2,644,205 shares of the asset manager’s stock valued at $222,060,000 after purchasing an additional 91,816 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of 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 purchasing an additional 219,387 shares during the period. Finally, Thrivent Financial for Lutherans boosted its holdings in shares of Northern Trust by 2.0% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,401,680 shares of the asset manager’s stock worth $117,713,000 after buying an additional 26,984 shares during the last quarter. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Northern Trust Stock Up 1.7 %

NASDAQ NTRS opened at $101.88 on Friday. The company has a market cap of $20.54 billion, a price-to-earnings ratio of 12.67, a PEG ratio of 1.45 and a beta of 1.08. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The company has a 50 day moving average of $91.39 and a 200-day moving average of $86.85. Northern Trust has a 1-year low of $64.13 and a 1-year high of $104.25.

Northern Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 6th will be issued a $0.75 dividend. The ex-dividend date is Friday, December 6th. This represents a $3.00 annualized dividend and a yield of 2.94%. Northern Trust’s payout ratio is currently 37.31%.

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.