Wells Fargo & Company Forecasts Strong Price Appreciation for Northern Trust (NASDAQ:NTRS) Stock

Northern Trust (NASDAQ:NTRS) had its price objective increased by equities research analysts at Wells Fargo & Company from $108.00 to $110.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the asset manager’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 2.23% from the stock’s current price.

NTRS has been the topic of a number of other reports. Morgan Stanley boosted their price target on shares of Northern Trust from $97.00 to $103.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. Evercore ISI raised their price target on Northern Trust from $86.00 to $103.00 and gave the stock an “in-line” rating in a research report on Thursday, October 24th. Barclays lifted their price objective on Northern Trust from $98.00 to $115.00 and gave the company an “equal weight” rating in a research note on Thursday, October 24th. UBS Group increased their target price on Northern Trust from $86.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 8th. Finally, The Goldman Sachs Group downgraded Northern Trust from a “neutral” rating to a “sell” rating and dropped their target price for the company from $84.00 to $82.00 in a research report on Thursday, September 26th. Three analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $100.67.

Northern Trust Stock Up 1.5 %

Shares of NASDAQ:NTRS opened at $107.60 on Friday. Northern Trust has a 52-week low of $73.98 and a 52-week high of $108.53. The stock has a market cap of $21.33 billion, a P/E ratio of 13.38, a PEG ratio of 1.20 and a beta of 1.06. The business has a fifty day moving average of $95.68 and a two-hundred day moving average of $88.86. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58.

Insider Activity at Northern Trust

In related news, EVP Thomas A. South sold 5,000 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $105.80, for a total value of $529,000.00. Following the transaction, the executive vice president now owns 49,756 shares in the company, valued at $5,264,184.80. The trade was a 9.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Charles A. Tribbett sold 1,855 shares of Northern Trust stock in a transaction on Friday, September 13th. The shares were sold at an average price of $88.12, for a total transaction of $163,462.60. Following the completion of the transaction, the director now owns 1,000 shares in the company, valued at approximately $88,120. This trade represents a 64.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 80,906 shares of company stock worth $8,176,652 in the last 90 days. 0.64% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of NTRS. LRI Investments LLC purchased a new stake in shares of Northern Trust during the 3rd quarter worth $180,000. Harvest Investment Advisors LLC lifted its stake in shares of Northern Trust by 2.9% in the third quarter. Harvest Investment Advisors LLC now owns 16,986 shares of the asset manager’s stock valued at $1,529,000 after purchasing an additional 475 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in Northern Trust by 1.3% during the third quarter. Public Employees Retirement System of Ohio now owns 78,137 shares of the asset manager’s stock worth $7,035,000 after buying an additional 1,015 shares in the last quarter. Groupama Asset Managment grew its position in Northern Trust by 113.6% during the third quarter. Groupama Asset Managment now owns 7,186 shares of the asset manager’s stock worth $647,000 after buying an additional 3,822 shares during the period. Finally, Nomura Asset Management Co. Ltd. increased its holdings in Northern Trust by 7.7% in the third quarter. Nomura Asset Management Co. Ltd. now owns 63,068 shares of the asset manager’s stock valued at $5,678,000 after buying an additional 4,528 shares in the last quarter. Institutional investors and hedge funds 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.