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

Northern Trust (NASDAQ:NTRS) had its price target boosted by equities research analysts at Morgan Stanley from $97.00 to $103.00 in a report issued on Thursday, Benzinga reports. The firm presently has an “underweight” rating on the asset manager’s stock. Morgan Stanley’s price objective points to a potential upside of 0.78% from the company’s previous close.

Several other research firms have also weighed in on NTRS. The Goldman Sachs Group lowered shares of Northern Trust from a “neutral” rating to a “sell” rating and cut their target price for the company from $84.00 to $82.00 in a report on Thursday, September 26th. Wells Fargo & Company lifted their target price on shares of Northern Trust from $92.00 to $108.00 and gave the company an “equal weight” rating in a report on Thursday. Barclays lifted their target price on shares of Northern Trust from $98.00 to $115.00 and gave the company an “equal weight” rating in a report on Thursday. Evercore ISI lifted 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. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Northern Trust from $84.00 to $94.00 and gave the company a “hold” rating in a research note on Monday, September 23rd. Three analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, Northern Trust presently has a consensus rating of “Hold” and an average price target of $98.17.

Northern Trust Stock Performance

NTRS traded down $0.31 during trading on Thursday, reaching $102.20. 622,629 shares of the company’s stock were exchanged, compared to its average volume of 1,304,099. Northern Trust has a 1 year low of $62.44 and a 1 year high of $104.25. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71. The stock has a market capitalization of $20.91 billion, a P/E ratio of 22.56, a price-to-earnings-growth ratio of 1.44 and a beta of 1.08. The company’s fifty day simple moving average is $90.51 and its 200-day simple moving average is $86.53.

Insiders Place Their Bets

In other Northern Trust news, EVP Teresa Parker sold 5,883 shares of Northern Trust 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 owns 83,765 shares of the company’s stock, valued at $7,041,285.90. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP Teresa Parker sold 5,883 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $84.06, for a total transaction of $494,524.98. Following the transaction, the executive vice president now 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Mark C. Gossett sold 6,000 shares of the business’s stock in a transaction dated 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 directly owns 28,707 shares in the company, valued at approximately $2,552,052.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,738 shares of company stock valued at $1,191,388 in the last 90 days. 0.64% of the stock is owned by insiders.

Institutional Investors Weigh In On Northern Trust

Institutional investors have recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA lifted its stake in Northern Trust by 13.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,413,620 shares of the asset manager’s stock worth $622,596,000 after purchasing an additional 850,556 shares in the last quarter. Panagora Asset Management Inc. boosted its holdings in Northern Trust by 4,660.5% in the second quarter. Panagora Asset Management Inc. now owns 399,932 shares of the asset manager’s stock valued at $33,586,000 after purchasing an additional 391,531 shares during the period. Primecap Management Co. CA boosted its holdings 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 valued at $591,787,000 after purchasing an additional 261,285 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Northern Trust by 12.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,003,675 shares of the asset manager’s stock valued at $168,253,000 after purchasing an additional 219,387 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in Northern Trust by 55.1% in the second quarter. AQR Capital Management LLC now owns 597,146 shares of the asset manager’s stock valued at $49,575,000 after purchasing an additional 212,089 shares during the period. 83.19% of the stock is currently owned by institutional investors and hedge funds.

About Northern Trust

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.