Northern Trust (NASDAQ:NTRS) had its price objective upped by equities research analysts at Barclays from $102.00 to $114.00 in a research note issued to investors on Tuesday. The firm presently has an “equal weight” rating on the asset manager’s stock. Barclays’ target price would indicate a potential upside of 14.13% from the stock’s current price.
A number of other brokerages have also recently issued reports on NTRS. Zacks Investment Research raised shares of Northern Trust from a “hold” rating to a “buy” rating and set a $110.00 price objective for the company in a research note on Tuesday, December 19th. Buckingham Research raised their price objective on shares of Northern Trust from $95.00 to $97.00 and gave the company a “neutral” rating in a research note on Thursday, October 19th. UBS Group raised their price target on shares of Northern Trust from $100.00 to $109.00 and gave the company a “buy” rating in a report on Thursday, October 19th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $110.00 price objective on shares of Northern Trust in a research report on Friday, December 22nd. Finally, Wells Fargo & Co set a $105.00 target price on shares of Northern Trust and gave the stock a “hold” rating in a report on Wednesday, December 20th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $99.86.
Shares of Northern Trust (NASDAQ:NTRS) traded down $0.43 during midday trading on Tuesday, reaching $99.89. 637,500 shares of the company were exchanged, compared to its average volume of 1,125,010. Northern Trust has a fifty-two week low of $81.92 and a fifty-two week high of $101.46. 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 company has a market capitalization of $22,717.09, a P/E ratio of 22.10, a PEG ratio of 2.13 and a beta of 0.97.
In other news, Vice Chairman William L. Morrison sold 11,058 shares of Northern Trust stock in a transaction on Wednesday, October 25th. The stock was sold at an average price of $94.34, for a total transaction of $1,043,211.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Jana R. Schreuder sold 18,489 shares of Northern Trust stock in a transaction on Monday, December 4th. The shares were sold at an average price of $99.20, for a total value of $1,834,108.80. The disclosure for this sale can be found here. In the last three months, insiders sold 324,382 shares of company stock worth $31,276,013. Corporate insiders own 1.27% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Pacer Advisors Inc. raised its holdings in Northern Trust by 8.4% during the second quarter. Pacer Advisors Inc. now owns 5,219 shares of the asset manager’s stock valued at $507,000 after buying an additional 403 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Northern Trust by 0.7% during the second quarter. Principal Financial Group Inc. now owns 337,497 shares of the asset manager’s stock valued at $32,808,000 after purchasing an additional 2,298 shares in the last quarter. Pinnacle Associates Ltd. boosted its holdings in shares of Northern Trust by 4.1% in the 2nd quarter. Pinnacle Associates Ltd. now owns 17,608 shares of the asset manager’s stock worth $1,712,000 after acquiring an additional 700 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of Northern Trust by 0.5% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,033 shares of the asset manager’s stock worth $1,559,000 after acquiring an additional 80 shares in the last quarter. Finally, Cortland Advisers LLC boosted its holdings in shares of Northern Trust by 355.3% in the 2nd quarter. Cortland Advisers LLC now owns 302,078 shares of the asset manager’s stock worth $29,365,000 after acquiring an additional 235,727 shares in the last quarter. Institutional investors and hedge funds own 81.69% of the company’s stock.
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Northern Trust Company Profile
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.
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