Keefe, Bruyette & Woods Raises Northern Trust (NASDAQ:NTRS) Price Target to $113.00

Northern Trust (NASDAQ:NTRS) had its price target boosted by analysts at Keefe, Bruyette & Woods from $100.00 to $113.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “market perform” rating on the asset manager’s stock. Keefe, Bruyette & Woods’ target price points to a potential upside of 2.83% from the stock’s previous close.

A number of other research firms also recently commented on NTRS. Deutsche Bank Aktiengesellschaft increased their target price on Northern Trust from $100.00 to $108.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Wells Fargo & Company boosted their target price on shares of Northern Trust from $108.00 to $110.00 and gave the company an “equal weight” rating in a research note on Friday, November 15th. Evercore ISI raised their price objective on Northern Trust from $86.00 to $103.00 and gave the stock an “in-line” rating in a research note on Thursday, October 24th. UBS Group lifted their price objective on shares of Northern Trust from $86.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 8th. Finally, Bank of America boosted their target price on shares of Northern Trust from $103.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Northern Trust presently has an average rating of “Hold” and a consensus price target of $103.00.

Northern Trust Stock Performance

Shares of Northern Trust stock opened at $109.89 on Tuesday. Northern Trust has a one year low of $76.67 and a one year high of $111.87. 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 company has a market cap of $21.78 billion, a PE ratio of 13.67, a P/E/G ratio of 1.25 and a beta of 1.07. The business has a 50-day simple moving average of $100.10 and a 200-day simple moving average of $90.82.

Insiders Place Their Bets

In related news, COO Peter Cherecwich sold 16,153 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $105.18, for a total transaction of $1,698,972.54. Following the completion of the transaction, the chief operating officer now owns 4,397 shares of the company’s stock, valued at approximately $462,476.46. This trade represents a 78.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Vice Chairman Steven L. Fradkin sold 27,874 shares of the company’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $100.50, for a total value of $2,801,337.00. Following the completion of the sale, the insider now directly owns 46,078 shares of the company’s stock, valued at approximately $4,630,839. This trade represents a 37.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 74,906 shares of company stock worth $7,643,252. 0.64% of the stock is owned by corporate insiders.

Institutional Trading of Northern Trust

Several large investors have recently added to or reduced their stakes in the stock. Allworth Financial LP boosted its stake in Northern Trust by 9.1% in the 3rd quarter. Allworth Financial LP now owns 1,170 shares of the asset manager’s stock worth $105,000 after purchasing an additional 98 shares during the period. Massmutual Trust Co. FSB ADV boosted its stake in Northern Trust by 14.5% in the third quarter. Massmutual Trust Co. FSB ADV now owns 922 shares of the asset manager’s stock valued at $83,000 after buying an additional 117 shares in the last quarter. DekaBank Deutsche Girozentrale increased its position in Northern Trust by 0.3% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 43,713 shares of the asset manager’s stock valued at $3,608,000 after acquiring an additional 120 shares during the period. Mesirow Financial Investment Management Inc. grew its holdings in Northern Trust by 0.4% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 35,673 shares of the asset manager’s stock worth $3,212,000 after acquiring an additional 127 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Northern Trust by 1.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 10,584 shares of the asset manager’s stock worth $889,000 after acquiring an additional 131 shares in the last quarter. 83.19% of the stock is currently owned by institutional investors and hedge funds.

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.