Truist Financial Corp Has $736,000 Holdings in Northern Trust Co. (NASDAQ:NTRS)

Truist Financial Corp trimmed its position in shares of Northern Trust Co. (NASDAQ:NTRS) by 34.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,770 shares of the asset manager’s stock after selling 4,610 shares during the quarter. Truist Financial Corp’s holdings in Northern Trust were worth $736,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Massachusetts Financial Services Co. MA increased 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 valued at $622,596,000 after purchasing an additional 850,556 shares in the last quarter. Primecap Management Co. CA increased its position in shares of Northern Trust by 3.9% during 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 in the last quarter. Wellington Management Group LLP increased its position in shares of Northern Trust by 140.2% during the fourth quarter. Wellington Management Group LLP now owns 5,802,792 shares of the asset manager’s stock worth $489,640,000 after acquiring an additional 3,387,002 shares in the last quarter. Ariel Investments LLC raised its holdings in shares of Northern Trust by 3.6% in the 2nd 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 last quarter. Finally, Dimensional Fund Advisors LP lifted its position 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 valued at $168,253,000 after acquiring an additional 219,387 shares in the last quarter. 83.19% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

NTRS has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft boosted their price objective on Northern Trust from $84.00 to $94.00 and gave the stock a “hold” rating in a report on Monday, September 23rd. The Goldman Sachs Group downgraded Northern Trust from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $84.00 to $82.00 in a report on Thursday, September 26th. UBS Group raised their price objective on Northern Trust from $86.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, October 8th. Morgan Stanley upped their target price on shares of Northern Trust from $93.00 to $97.00 and gave the stock an “underweight” rating in a research note on Monday, September 30th. Finally, Royal Bank of Canada raised their price target on shares of Northern Trust from $86.00 to $90.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $90.42.

Northern Trust Stock Performance

Shares of NTRS stock opened at $94.06 on Tuesday. Northern Trust Co. has a 52 week low of $62.44 and a 52 week high of $94.12. The firm’s 50-day simple moving average is $88.65 and its two-hundred day simple moving average is $86.07. The firm has a market cap of $19.24 billion, a price-to-earnings ratio of 20.76, a P/E/G ratio of 1.44 and a beta of 1.08. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings results on Wednesday, July 17th. The asset manager reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.03. Northern Trust had a net margin of 10.53% and a return on equity of 12.24%. The company had revenue of $2.72 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same quarter in the previous year, the firm posted $1.79 EPS. Northern Trust’s revenue was up 53.8% on a year-over-year basis. As a group, equities analysts forecast that Northern Trust Co. will post 7.04 earnings per share for the current year.

Insider Buying and Selling at Northern Trust

In other news, EVP Teresa Parker sold 5,883 shares of the stock in a transaction 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 completion of the transaction, the executive vice president now owns 83,765 shares in the company, valued at approximately $7,041,285.90. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Northern Trust news, Director Charles A. Tribbett sold 1,855 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $88.12, for a total transaction of $163,462.60. Following the sale, the director now owns 1,000 shares of the company’s stock, valued at $88,120. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Teresa Parker sold 5,883 shares of the stock in a transaction 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 owns 83,765 shares in the company, valued at approximately $7,041,285.90. This represents 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 worth $1,191,388 over the last ninety days. 0.64% of the stock is currently owned by company insiders.

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.