Northern Trust (NASDAQ:NTRS) Price Target Increased to $107.00 by Analysts at Royal Bank of Canada

Northern Trust (NASDAQ:NTRS) had its price objective hoisted by Royal Bank of Canada from $100.00 to $107.00 in a research report released on Thursday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the asset manager’s stock.

Several other brokerages have also commented on NTRS. UBS Group upped their price objective on shares of Northern Trust from $86.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, October 8th. The Goldman Sachs Group downgraded shares of Northern Trust from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $84.00 to $82.00 in a research note on Thursday, September 26th. Keefe, Bruyette & Woods lowered their price objective on shares of Northern Trust from $92.00 to $85.00 and set a “market perform” rating for the company in a report on Thursday, June 27th. Evercore ISI upped their target price on Northern Trust from $86.00 to $103.00 and gave the stock an “in-line” rating in a report on Thursday. Finally, Morgan Stanley raised their target price on Northern Trust from $93.00 to $97.00 and gave the company an “underweight” rating in a research note on Monday, September 30th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, Northern Trust currently has a consensus rating of “Hold” and a consensus price target of $99.33.

Northern Trust Trading Down 0.4 %

Shares of NTRS traded down $0.45 during mid-day trading on Thursday, hitting $102.34. 51,234 shares of the company’s stock 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 firm has a market capitalization of $20.64 billion, a P/E ratio of 14.06, a PEG ratio of 1.65 and a beta of 1.08. The business’s 50-day moving average price is $90.51 and its 200-day moving average price is $86.53. Northern Trust has a 1 year low of $63.43 and a 1 year high of $104.25.

Northern Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 6th will be issued 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 dividend yield of 2.93%. Northern Trust’s payout ratio is presently 41.04%.

Insider Buying and Selling

In other Northern Trust news, EVP Teresa Parker sold 5,883 shares of Northern Trust stock in a transaction dated 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 approximately $7,041,285.90. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Northern Trust news, EVP Teresa Parker sold 5,883 shares of the 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 sale, the executive vice president now directly owns 83,765 shares in the company, valued at approximately $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 accessible through this hyperlink. Also, Director Charles A. Tribbett sold 1,855 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $88.12, for a total value of $163,462.60. Following the completion of the transaction, the director now owns 1,000 shares of the company’s stock, valued at $88,120. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,738 shares of company stock worth $1,191,388 in the last quarter. Corporate insiders own 0.64% of the company’s stock.

Institutional Trading of Northern Trust

Large investors have recently made changes to their positions in the stock. CANADA LIFE ASSURANCE Co boosted its holdings 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 purchasing an additional 23,020 shares during the last quarter. Sequoia Financial Advisors LLC boosted its stake 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 buying an additional 26,129 shares during the last quarter. Bessemer Group Inc. grew its holdings in shares of Northern Trust by 668.0% in the first quarter. Bessemer Group Inc. now owns 20,205 shares of the asset manager’s stock worth $1,797,000 after acquiring an additional 17,574 shares during the period. AIA Group Ltd increased 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 acquiring an additional 24,791 shares during the last quarter. Finally, Intech Investment Management LLC lifted its holdings 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 acquiring an additional 53,990 shares during the period. 83.19% of the stock is currently owned by institutional investors.

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.