Keefe, Bruyette & Woods restated their hold rating on shares of Northern Trust (NASDAQ:NTRS) in a report issued on Thursday morning. They currently have a $108.00 price objective on the asset manager’s stock.
NTRS has been the topic of a number of other reports. Wells Fargo set a $105.00 price target on shares of Northern Trust and gave the stock a hold rating in a research note on Wednesday, December 20th. BidaskClub upgraded shares of Northern Trust from a hold rating to a buy rating in a research note on Saturday, January 13th. Barclays boosted their price target on shares of Northern Trust from $102.00 to $114.00 and gave the stock an equal weight rating in a research note on Tuesday, January 2nd. Royal Bank of Canada boosted their price target on shares of Northern Trust to $110.00 and gave the stock an outperform rating in a research note on Thursday, January 25th. Finally, Goldman Sachs upgraded shares of Northern Trust from a neutral rating to a buy rating and set a $121.00 target price on the stock in a research report on Monday, April 2nd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the stock. Northern Trust currently has an average rating of Hold and an average target price of $109.25.
Shares of Northern Trust stock opened at $101.17 on Thursday. Northern Trust has a 52-week low of $84.93 and a 52-week high of $110.81. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.35. The stock has a market cap of $22,822.13, a PE ratio of 20.95, a PEG ratio of 1.33 and a beta of 0.95.
The business also recently announced a quarterly dividend, which was paid on Sunday, April 1st. Shareholders of record on Friday, March 9th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Thursday, March 8th. This represents a $1.68 annualized dividend and a yield of 1.66%. Northern Trust’s payout ratio is currently 34.78%.
In other Northern Trust news, CFO Biff Bowman sold 13,811 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $108.53, for a total value of $1,498,907.83. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Dean M. Harrison purchased 1,000 shares of Northern Trust stock in a transaction on Saturday, December 15th. The stock was acquired at an average cost of $72.98 per share, for a total transaction of $72,980.00. The disclosure for this purchase can be found here. Insiders have sold 189,459 shares of company stock worth $20,188,431 over the last 90 days. 1.04% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. lifted its holdings in shares of Northern Trust by 1.7% in the fourth quarter. BlackRock Inc. now owns 13,568,183 shares of the asset manager’s stock valued at $1,355,326,000 after purchasing an additional 230,925 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Northern Trust by 4.0% in the fourth quarter. Geode Capital Management LLC now owns 2,436,308 shares of the asset manager’s stock valued at $242,889,000 after purchasing an additional 93,566 shares in the last quarter. Burgundy Asset Management Ltd. lifted its holdings in shares of Northern Trust by 0.3% in the fourth quarter. Burgundy Asset Management Ltd. now owns 2,393,055 shares of the asset manager’s stock valued at $239,042,000 after purchasing an additional 6,255 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Northern Trust by 8.3% in the fourth quarter. Wells Fargo & Company MN now owns 2,106,085 shares of the asset manager’s stock valued at $210,376,000 after purchasing an additional 160,702 shares in the last quarter. Finally, Alyeska Investment Group L.P. purchased a new stake in shares of Northern Trust in the third quarter valued at about $128,778,000. 79.74% of the stock is currently owned by institutional investors.
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Northern Trust Company Profile
Northern Trust Corporation, a financial holding company, provides asset servicing, fund administration, asset management, fiduciary, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates through Corporate & Institutional Services (C&IS) and Wealth Management segments.
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