Morgan Stanley Raises Northern Trust (NASDAQ:NTRS) Price Target to $103.00

Northern Trust (NASDAQ:NTRS) had its target price boosted by Morgan Stanley from $97.00 to $103.00 in a research report sent to investors on Thursday morning, Benzinga reports. The brokerage currently has an underweight rating on the asset manager’s stock.

Several other analysts also recently weighed in on the company. Evercore ISI upped their price target on Northern Trust from $86.00 to $103.00 and gave the stock an “in-line” rating in a research note on Thursday. The Goldman Sachs Group downgraded Northern Trust from a “neutral” rating to a “sell” rating and reduced their price target for the company from $84.00 to $82.00 in a report on Thursday, September 26th. Barclays upped their price target 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. UBS Group raised their price objective on shares of Northern Trust from $86.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, October 8th. Finally, Keefe, Bruyette & Woods cut their price target on shares of Northern Trust from $92.00 to $85.00 and set a “market perform” rating on the stock in a report on Thursday, June 27th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $99.33.

Northern Trust Trading Down 2.5 %

NASDAQ:NTRS opened at $100.19 on Thursday. The firm has a market capitalization of $20.50 billion, a P/E ratio of 22.12, a PEG ratio of 1.65 and a beta of 1.08. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71. Northern Trust has a one year low of $63.43 and a one year high of $104.25. The company’s 50-day simple moving average is $91.10 and its 200 day simple moving average is $86.72.

Northern Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 6th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 2.99%. The ex-dividend date of this dividend is Friday, December 6th. Northern Trust’s payout ratio is currently 66.23%.

Insider Buying and Selling at Northern Trust

In other Northern Trust news, EVP Mark C. Gossett sold 6,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $88.90, for a total transaction of $533,400.00. Following the completion of the sale, the executive vice president now directly owns 28,707 shares in the company, valued at $2,552,052.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP Mark C. Gossett sold 6,000 shares of Northern Trust stock in a transaction 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 transaction, the executive vice president now owns 28,707 shares in the company, valued at $2,552,052.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Teresa Parker sold 5,883 shares of the business’s stock in a transaction on Friday, August 9th. The shares were 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 of the company’s stock, valued at approximately $7,041,285.90. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,738 shares of company stock valued at $1,191,388. 0.64% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in NTRS. Olistico Wealth LLC purchased a new stake in Northern Trust in the 2nd quarter worth approximately $25,000. Innealta Capital LLC bought a new position in shares of 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. Northwest Investment Counselors LLC bought a new stake in shares of Northern Trust during the 3rd quarter valued at $39,000. Finally, Versant Capital Management Inc lifted its stake in shares of Northern Trust by 343.9% during the 2nd quarter. Versant Capital Management Inc now owns 435 shares of the asset manager’s stock valued at $37,000 after buying an additional 337 shares in the last quarter. Institutional investors own 83.19% of the company’s stock.

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.