Northern Trust (NASDAQ:NTRS) Reaches New 1-Year High After Analyst Upgrade

Northern Trust Co. (NASDAQ:NTRS)’s share price hit a new 52-week high during mid-day trading on Monday after Wells Fargo & Company raised their price target on the stock from $108.00 to $110.00. Wells Fargo & Company currently has an equal weight rating on the stock. Northern Trust traded as high as $108.83 and last traded at $108.81, with a volume of 392996 shares changing hands. The stock had previously closed at $107.60.

Other equities analysts have also issued research reports about the stock. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Northern Trust from $100.00 to $108.00 and gave the company a “hold” rating in a report on Monday, November 11th. Barclays boosted their target price on shares of Northern Trust from $98.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 24th. The Goldman Sachs Group lowered shares of Northern Trust from a “neutral” rating to a “sell” rating and reduced their target price for the company from $84.00 to $82.00 in a research note on Thursday, September 26th. Bank of America boosted their target price on shares of Northern Trust from $103.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Finally, Royal Bank of Canada boosted their target price on shares of Northern Trust from $100.00 to $107.00 and gave the stock an “outperform” rating in a 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 data from MarketBeat.com, Northern Trust presently has a consensus rating of “Hold” and a consensus target price of $100.67.

Insider Activity

In other Northern Trust news, Director Charles A. Tribbett sold 1,855 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $88.12, for a total transaction of $163,462.60. Following the sale, the director now owns 1,000 shares in the company, valued at $88,120. This represents a 64.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Mark C. Gossett sold 6,000 shares of the stock in a transaction 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 transaction, the executive vice president now directly owns 28,707 shares in the company, valued at approximately $2,552,052.30. This represents a 17.29 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 80,906 shares of company stock worth $8,176,652. Insiders own 0.64% of the company’s stock.

Institutional Trading of Northern Trust

Several large investors have recently bought and sold shares of NTRS. Olistico Wealth LLC bought a new position in shares of Northern Trust in the second quarter worth approximately $25,000. Innealta Capital LLC bought a new position in Northern Trust in the second quarter worth approximately $26,000. Ridgewood Investments LLC purchased a new stake in shares of Northern Trust in the second quarter worth $30,000. Versant Capital Management Inc increased its stake in shares of Northern Trust by 343.9% in the second quarter. Versant Capital Management Inc now owns 435 shares of the asset manager’s stock worth $37,000 after purchasing an additional 337 shares in the last quarter. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of Northern Trust in the third quarter worth $39,000. 83.19% of the stock is owned by institutional investors.

Northern Trust Stock Up 1.2 %

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 capitalization of $21.59 billion, a PE ratio of 13.55, a PEG ratio of 1.21 and a beta of 1.06. The company’s 50 day moving average is $96.10 and its two-hundred day moving average is $89.12.

Northern Trust Dividend Announcement

The company 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 $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date of this dividend is Friday, December 6th. Northern Trust’s dividend payout ratio is currently 37.31%.

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.