Northern Trust (NASDAQ:NTRS) Raised to “Buy” at StockNews.com

Northern Trust (NASDAQ:NTRS) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Tuesday.

A number of other equities analysts also recently commented on NTRS. The Goldman Sachs Group downgraded Northern Trust from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $84.00 to $82.00 in a research report on Thursday, September 26th. Deutsche Bank Aktiengesellschaft boosted their target price on Northern Trust from $100.00 to $108.00 and gave the stock a “hold” rating in a research note on Monday. Barclays boosted their target price on Northern Trust from $98.00 to $115.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th. Royal Bank of Canada boosted their target price on Northern Trust from $100.00 to $107.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, Wells Fargo & Company upped their price target on Northern Trust from $92.00 to $108.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Northern Trust has a consensus rating of “Hold” and an average price target of $100.50.

Northern Trust Stock Performance

Shares of NASDAQ:NTRS traded up $0.20 during trading on Tuesday, hitting $106.95. The stock had a trading volume of 1,306,485 shares, compared to its average volume of 1,301,716. Northern Trust has a 12-month low of $69.98 and a 12-month high of $108.53. The stock has a market capitalization of $21.20 billion, a price-to-earnings ratio of 13.30, a price-to-earnings-growth ratio of 1.22 and a beta of 1.06. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. The stock has a 50-day simple moving average of $94.25 and a two-hundred day simple moving average of $88.28.

Insider Activity

In related news, EVP Mark C. Gossett sold 6,000 shares of the company’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 completion of the sale, the executive vice president now owns 28,707 shares of the company’s stock, valued at $2,552,052.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP Thomas A. South sold 5,000 shares of the stock in a transaction on 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 directly owns 49,756 shares in the company, valued at $5,264,184.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Mark C. Gossett sold 6,000 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $88.90, for a total value of $533,400.00. Following the transaction, the executive vice president now owns 28,707 shares in the company, valued at approximately $2,552,052.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 80,906 shares of company stock valued at $8,176,652. 0.64% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of NTRS. Pitcairn Co. raised its holdings in shares of Northern Trust by 122.4% during the third quarter. Pitcairn Co. now owns 15,951 shares of the asset manager’s stock valued at $1,436,000 after acquiring an additional 8,780 shares in the last quarter. Cerity Partners LLC raised its stake in shares of Northern Trust by 5.2% in the third quarter. Cerity Partners LLC now owns 100,675 shares of the asset manager’s stock worth $9,064,000 after buying an additional 4,989 shares during the period. Studio Investment Management LLC raised its stake in shares of Northern Trust by 3.7% in the third quarter. Studio Investment Management LLC now owns 7,627 shares of the asset manager’s stock worth $692,000 after buying an additional 269 shares during the period. Primecap Management Co. CA raised its stake in Northern Trust by 0.5% during the 3rd quarter. Primecap Management Co. CA now owns 7,085,117 shares of the asset manager’s stock valued at $637,873,000 after purchasing an additional 38,360 shares during the period. Finally, Ontario Teachers Pension Plan Board bought a new stake in Northern Trust during the 3rd quarter valued at approximately $390,000. Hedge funds and other institutional investors own 83.19% of the company’s stock.

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.