Evercore ISI Raises Northern Trust (NASDAQ:NTRS) Price Target to $103.00

Northern Trust (NASDAQ:NTRS) had its price target upped by Evercore ISI from $86.00 to $103.00 in a research note issued to investors on Thursday, Benzinga reports. Evercore ISI currently has an in-line rating on the asset manager’s stock.

A number of other analysts have also recently commented on NTRS. Barclays lifted 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 target price on Northern Trust from $84.00 to $94.00 and gave the stock a “hold” rating in a report on Monday, September 23rd. UBS Group increased their price target 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. Keefe, Bruyette & Woods decreased 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 research note on Thursday, June 27th. Finally, Royal Bank of Canada increased their price objective on shares of Northern Trust from $86.00 to $90.00 and gave the stock an “outperform” rating in a research note on Thursday, July 18th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $99.33.

Northern Trust Trading Down 2.5 %

NASDAQ NTRS opened at $100.19 on Thursday. Northern Trust has a 12-month low of $63.43 and a 12-month high of $104.25. The company has a fifty day simple moving average of $91.10 and a two-hundred day simple moving average of $86.72. 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 stock has a market cap of $20.50 billion, a P/E ratio of 22.12, a P/E/G ratio of 1.65 and a beta of 1.08.

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 issued a $0.75 dividend. The ex-dividend date is Friday, December 6th. This represents a $3.00 dividend on an annualized basis and a yield of 2.99%. Northern Trust’s payout ratio is 66.23%.

Insider Transactions at Northern Trust

In related news, Director Charles A. Tribbett sold 1,855 shares of Northern Trust stock in a transaction dated 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 in the company, valued at $88,120. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Northern Trust news, Director Charles A. Tribbett sold 1,855 shares of the firm’s stock in a transaction that occurred 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 sale, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $88,120. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 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 $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 have sold a total of 13,738 shares of company stock valued at $1,191,388 in the last ninety days. 0.64% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Northern Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NTRS. Massachusetts Financial Services Co. MA increased its stake in shares of 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 purchasing an additional 850,556 shares in the last quarter. Panagora Asset Management Inc. increased its stake in Northern Trust by 4,660.5% during the 2nd quarter. Panagora Asset Management Inc. now owns 399,932 shares of the asset manager’s stock worth $33,586,000 after buying an additional 391,531 shares in the last quarter. Primecap Management Co. CA raised its holdings in shares of Northern Trust by 3.9% during the second quarter. Primecap Management Co. CA now owns 7,046,757 shares of the asset manager’s stock valued at $591,787,000 after acquiring an additional 261,285 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of 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 in the last quarter. Finally, AQR Capital Management LLC boosted its stake in shares of Northern Trust by 55.1% in the second quarter. AQR Capital Management LLC now owns 597,146 shares of the asset manager’s stock worth $49,575,000 after acquiring an additional 212,089 shares during the last quarter. 83.19% of the stock is owned by hedge funds and other institutional investors.

Northern Trust Company Profile

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.