Wells Fargo & Company Raises Northern Trust (NASDAQ:NTRS) Price Target to $110.00

Northern Trust (NASDAQ:NTRS) had its price objective upped by Wells Fargo & Company from $108.00 to $110.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the asset manager’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 3.81% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. Royal Bank of Canada boosted their price target on shares of Northern Trust from $100.00 to $107.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. 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 report on Thursday, October 24th. Morgan Stanley upped 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. StockNews.com raised shares of Northern Trust from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Barclays increased their price objective on shares of Northern Trust from $98.00 to $115.00 and gave the company an “equal weight” rating in a research note on Thursday, October 24th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $100.67.

Northern Trust Stock Performance

Shares of NTRS opened at $105.96 on Friday. Northern Trust has a one year low of $73.85 and a one year high of $108.53. The company’s fifty day moving average price is $94.93 and its 200 day moving average price is $88.57. The company has a market capitalization of $21.00 billion, a PE ratio of 13.18, a price-to-earnings-growth ratio of 1.20 and a beta of 1.06. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71.

Insider Activity at Northern Trust

In other news, Vice Chairman Steven L. Fradkin sold 27,874 shares of the stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $100.50, for a total transaction of $2,801,337.00. Following the completion of the sale, the insider now directly owns 46,078 shares in the company, valued at approximately $4,630,839. This represents a 37.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Peter Cherecwich sold 16,153 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $105.18, for a total value of $1,698,972.54. Following the transaction, the chief operating officer now owns 4,397 shares in the company, valued at approximately $462,476.46. This represents a 78.60 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 80,906 shares of company stock valued at $8,176,652. Corporate insiders own 0.64% of the company’s stock.

Hedge Funds Weigh In On Northern Trust

Hedge funds have recently made changes to their positions in the business. FMR LLC grew its position in Northern Trust by 9.3% during the 3rd quarter. FMR LLC now owns 18,187,663 shares of the asset manager’s stock valued at $1,637,435,000 after purchasing an additional 1,542,685 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Northern Trust by 13.0% during 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 acquiring an additional 850,556 shares during the period. Panagora Asset Management Inc. boosted its position in shares of 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 worth $33,586,000 after purchasing an additional 391,531 shares during the period. Primecap Management Co. CA raised its position in shares of Northern Trust by 3.9% during the 2nd 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. Finally, Dimensional Fund Advisors LP boosted its holdings in Northern Trust by 12.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,003,675 shares of the asset manager’s stock worth $168,253,000 after buying an additional 219,387 shares during the period. 83.19% of the stock is owned by hedge funds and other institutional investors.

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.