Deutsche Bank Aktiengesellschaft Forecasts Strong Price Appreciation for Northern Trust (NASDAQ:NTRS) Stock

Northern Trust (NASDAQ:NTRS) had its price target hoisted by Deutsche Bank Aktiengesellschaft from $100.00 to $108.00 in a research note released on Monday morning,Benzinga reports. The firm currently has a hold rating on the asset manager’s stock.

Other research analysts also recently issued research reports about the stock. Barclays boosted their price objective on shares of Northern Trust from $98.00 to $115.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. Royal Bank of Canada boosted their price target on Northern Trust from $100.00 to $107.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. UBS Group raised their price objective on Northern Trust from $86.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 8th. Evercore ISI upped their target price on Northern Trust from $86.00 to $103.00 and gave the company an “in-line” rating in a research note on Thursday, October 24th. Finally, Bank of America raised their target price on Northern Trust from $103.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $100.67.

Northern Trust Price Performance

NASDAQ NTRS opened at $105.96 on Monday. The stock has a 50-day simple moving average of $94.93 and a 200 day simple moving average of $88.57. Northern Trust has a twelve month low of $73.85 and a twelve month high of $108.53. The stock has a market capitalization of $21.00 billion, a PE ratio of 13.18, a P/E/G ratio of 1.20 and a beta of 1.06. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71.

Northern Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 6th will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.00 annualized dividend and a yield of 2.83%. Northern Trust’s dividend payout ratio is 37.31%.

Insider Activity

In related news, insider Teresa Parker sold 4,439 shares of Northern Trust stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $100.86, for a total value of $447,717.54. Following the completion of the transaction, the insider now directly owns 79,326 shares of the company’s stock, valued at $8,000,820.36. The trade was a 5.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Thomas A. South sold 5,000 shares of the 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 sale, the executive vice president now directly owns 49,756 shares in the company, valued at approximately $5,264,184.80. This represents a 9.13 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 80,906 shares of company stock worth $8,176,652. Insiders own 0.64% of the company’s stock.

Hedge Funds Weigh In On Northern Trust

A number of large investors have recently modified their holdings of NTRS. FMR LLC raised its position in Northern Trust by 9.3% in the 3rd quarter. FMR LLC now owns 18,187,663 shares of the asset manager’s stock worth $1,637,435,000 after purchasing an additional 1,542,685 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Northern Trust by 13.0% in the 2nd 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 period. Primecap Management Co. CA raised its position in shares of Northern Trust by 0.5% during the third quarter. Primecap Management Co. CA now owns 7,085,117 shares of the asset manager’s stock worth $637,873,000 after acquiring an additional 38,360 shares during the last quarter. Ariel Investments LLC lifted its position in 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 period. Finally, Dimensional Fund Advisors LP boosted its stake in Northern Trust by 12.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,003,675 shares of the asset manager’s stock valued at $168,253,000 after acquiring an additional 219,387 shares during the last quarter. 83.19% of the stock is currently owned by institutional investors and hedge funds.

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.