Northern Trust (NASDAQ:NTRS)‘s stock had its “hold” rating restated by investment analysts at Sandler O’Neill in a note issued to investors on Wednesday, January 10th. They currently have a $105.00 target price on the asset manager’s stock. Sandler O’Neill’s price target suggests a potential downside of 1.51% from the stock’s current price.
A number of other analysts have also recently weighed in on the stock. Bank of America set a $102.00 price target on shares of Northern Trust and gave the stock a “buy” rating in a research report on Thursday, October 19th. Zacks Investment Research upgraded shares of Northern Trust from a “hold” rating to a “buy” rating and set a $110.00 price objective on the stock in a report on Tuesday, December 19th. Citigroup reiterated a “neutral” rating and issued a $92.00 price objective (up previously from $90.00) on shares of Northern Trust in a report on Monday, October 9th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $110.00 price objective on shares of Northern Trust in a report on Friday, December 22nd. Finally, Morgan Stanley upped their target price on shares of Northern Trust from $83.00 to $91.00 and gave the company an “underweight” rating in a research note on Thursday, October 19th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $100.20.
Northern Trust (NTRS) traded down $0.65 during mid-day trading on Wednesday, reaching $106.61. 789,400 shares of the company’s stock traded hands, compared to its average volume of 955,360. Northern Trust has a 12-month low of $81.92 and a 12-month high of $108.04. The stock has a market cap of $24,310.00, a PE ratio of 23.53, a P/E/G ratio of 1.62 and a beta of 0.96. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.71 and a quick ratio of 0.71.
In related news, Vice Chairman William L. Morrison sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $96.48, for a total value of $2,894,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Clair Joyce St sold 18,489 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $97.51, for a total transaction of $1,802,862.39. The disclosure for this sale can be found here. Over the last three months, insiders have sold 137,753 shares of company stock valued at $13,433,361. Company insiders own 1.27% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Alyeska Investment Group L.P. bought a new stake in Northern Trust in the 3rd quarter valued at $128,778,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Northern Trust by 7,106.6% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 526,081 shares of the asset manager’s stock worth $51,140,000 after acquiring an additional 518,781 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Northern Trust by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 14,255,623 shares of the asset manager’s stock worth $1,385,789,000 after acquiring an additional 363,691 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Northern Trust by 14.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,965,535 shares of the asset manager’s stock worth $180,691,000 after acquiring an additional 255,106 shares during the period. Finally, Point72 Asset Management L.P. bought a new position in Northern Trust during the 3rd quarter valued at about $23,359,000. Institutional investors own 81.70% of the company’s stock.
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About Northern Trust
Northern Trust Corporation is a financial holding company. The Company provides asset servicing, fund administration, asset management, fiduciary and banking solutions for corporations, institutions, families and individuals across the world. Its segments include Corporate & Institutional Services (C&IS), Wealth Management, and Treasury and Other.
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