Northern Trust (NASDAQ:NTRS) Given New $108.00 Price Target at Wells Fargo & Company

Northern Trust (NASDAQ:NTRS) had its target price hoisted by Wells Fargo & Company from $92.00 to $108.00 in a report published on Thursday morning, Benzinga reports. The firm currently has an equal weight rating on the asset manager’s stock.

A number of other analysts have also issued reports on NTRS. Keefe, Bruyette & Woods lowered their price target 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. Barclays increased their price target on Northern Trust from $98.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft lifted their price objective on Northern Trust from $84.00 to $94.00 and gave the company a “hold” rating in a report on Monday, September 23rd. The Goldman Sachs Group cut shares of Northern Trust from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $84.00 to $82.00 in a report on Thursday, September 26th. Finally, Royal Bank of Canada boosted their price target on shares of Northern Trust from $86.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday, July 18th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $99.33.

Northern Trust Trading Down 0.4 %

NTRS traded down $0.45 on Thursday, reaching $102.34. 51,234 shares of the company traded hands, compared to its average volume of 1,305,197. 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 company has a market cap of $20.64 billion, a P/E ratio of 14.06, a price-to-earnings-growth ratio of 1.65 and a beta of 1.08. The firm has a fifty day simple moving average of $90.51 and a two-hundred day simple moving average of $86.53. Northern Trust has a one year low of $63.43 and a one 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. This represents a $3.00 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend is Friday, December 6th. Northern Trust’s dividend payout ratio is currently 41.04%.

Insider Transactions at Northern Trust

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

Hedge Funds Weigh In On Northern Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NTRS. Olistico Wealth LLC acquired a new position in shares of Northern Trust in the second quarter valued at about $25,000. Innealta Capital LLC purchased a new stake in Northern Trust in the second quarter valued at approximately $26,000. Ridgewood Investments LLC purchased a new position in Northern Trust during the 2nd quarter worth approximately $30,000. Northwest Investment Counselors LLC acquired a new stake in Northern Trust during the 3rd quarter valued at approximately $39,000. Finally, Versant Capital Management Inc lifted its stake in Northern Trust by 343.9% during the 2nd quarter. Versant Capital Management Inc now owns 435 shares of the asset manager’s stock valued at $37,000 after acquiring an additional 337 shares during the period. Hedge funds and other institutional investors 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.