Morgan Stanley Boosts 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 released on Thursday morning, Benzinga reports. Morgan Stanley currently has an underweight rating on the asset manager’s stock.

Several other equities research analysts have also recently issued reports on the company. UBS Group lifted their target price on Northern Trust from $86.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, October 8th. Barclays lifted their price objective on Northern Trust from $98.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Thursday. Evercore ISI raised their target price on shares of Northern Trust from $86.00 to $103.00 and gave the company an “in-line” rating in a report on Thursday. Royal Bank of Canada upped their price target on shares of Northern Trust from $100.00 to $107.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Northern Trust from $92.00 to $85.00 and set a “market perform” rating for the company in a research note on Thursday, June 27th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $99.33.

Northern Trust Stock Performance

NTRS opened at $100.19 on Thursday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a market capitalization of $20.50 billion, a price-to-earnings ratio of 22.12, a PEG ratio of 1.65 and a beta of 1.08. The company has a fifty day moving average of $91.10 and a 200 day moving average of $86.72. Northern Trust has a fifty-two week low of $63.43 and a fifty-two week high of $104.25.

Northern Trust Dividend Announcement

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 given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date of this dividend is Friday, December 6th. Northern Trust’s dividend payout ratio (DPR) is currently 66.23%.

Insider Buying and Selling at Northern Trust

In other news, EVP Teresa Parker sold 5,883 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $84.06, for a total value of $494,524.98. Following the sale, the executive vice president now directly owns 83,765 shares in the company, valued at approximately $7,041,285.90. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Northern Trust news, Director Charles A. Tribbett sold 1,855 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $88.12, for a total value of $163,462.60. Following the transaction, the director now directly owns 1,000 shares in the company, valued at $88,120. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Teresa Parker sold 5,883 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $84.06, for a total transaction of $494,524.98. Following the transaction, the executive vice president now directly owns 83,765 shares in the company, valued at approximately $7,041,285.90. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,738 shares of company stock worth $1,191,388 over the last 90 days. Company insiders own 0.64% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Massachusetts Financial Services Co. MA lifted its holdings in shares of Northern Trust by 13.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,413,620 shares of the asset manager’s stock worth $622,596,000 after buying an additional 850,556 shares during the period. Primecap Management Co. CA lifted its stake in Northern Trust by 3.9% in the second quarter. Primecap Management Co. CA now owns 7,046,757 shares of the asset manager’s stock worth $591,787,000 after acquiring an additional 261,285 shares during the period. Ariel Investments LLC lifted its stake in Northern Trust by 3.6% in the second quarter. Ariel Investments LLC now owns 2,644,205 shares of the asset manager’s stock worth $222,060,000 after acquiring an additional 91,816 shares during the period. Dimensional Fund Advisors LP grew its holdings in Northern Trust by 12.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,003,675 shares of the asset manager’s stock worth $168,253,000 after acquiring an additional 219,387 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its holdings in shares of Northern Trust by 2.0% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,401,680 shares of the asset manager’s stock valued at $117,713,000 after purchasing an additional 26,984 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.