Northern Trust (NASDAQ:NTRS) Raised to Buy at StockNews.com

Northern Trust (NASDAQ:NTRS) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Tuesday.

Several other research analysts have also weighed in on NTRS. Wells Fargo & Company increased their target price on shares of Northern Trust from $92.00 to $108.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 24th. The Goldman Sachs Group lowered shares of Northern Trust from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $84.00 to $82.00 in a research note on Thursday, September 26th. Evercore ISI increased their target price on shares of Northern Trust from $86.00 to $103.00 and gave the stock an “in-line” rating in a research note on Thursday, October 24th. Royal Bank of Canada increased their target price on shares of Northern Trust from $100.00 to $107.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, Barclays increased 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 note on Thursday, October 24th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $100.50.

Northern Trust Price Performance

Northern Trust stock opened at $106.84 on Tuesday. 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 $21.18 billion, a P/E ratio of 13.29, a PEG ratio of 1.24 and a beta of 1.06. The company has a 50-day moving average price of $94.59 and a 200 day moving average price of $88.44. Northern Trust has a 12-month low of $72.28 and a 12-month high of $108.53.

Insider Buying and Selling

In related news, EVP Mark C. Gossett sold 6,000 shares of Northern Trust 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 transaction, the executive vice president now owns 28,707 shares in the company, valued at $2,552,052.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Northern Trust news, EVP Mark C. Gossett sold 6,000 shares of the firm’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 transaction of $533,400.00. Following the sale, the executive vice president now owns 28,707 shares of the company’s stock, valued at approximately $2,552,052.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Peter Cherecwich sold 16,153 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $105.18, for a total transaction of $1,698,972.54. Following the sale, the chief operating officer now directly owns 4,397 shares in the company, valued at approximately $462,476.46. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 80,906 shares of company stock worth $8,176,652 over the last 90 days. 0.64% of the stock is owned by insiders.

Institutional Trading of Northern Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Olistico Wealth LLC acquired a new stake in Northern Trust during the second quarter worth approximately $25,000. Innealta Capital LLC acquired a new position in shares of Northern Trust in the 2nd quarter valued at $26,000. Ridgewood Investments LLC acquired a new position in shares of Northern Trust in the 2nd quarter valued at $30,000. Northwest Investment Counselors LLC acquired a new position in shares of Northern Trust in the 3rd quarter valued at $39,000. Finally, Versant Capital Management Inc increased its holdings in shares of Northern Trust by 343.9% in 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. Institutional investors and hedge funds 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.