Northern Trust (NASDAQ:NTRS) Coverage Initiated by Analysts at Truist Financial

Truist Financial assumed coverage on shares of Northern Trust (NASDAQ:NTRS) in a research report report published on Tuesday morning,Benzinga reports. The firm issued a hold rating and a $110.00 target price on the asset manager’s stock.

A number of other analysts also recently weighed in on NTRS. Royal Bank of Canada upped their price target on shares of Northern Trust from $100.00 to $107.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Wells Fargo & Company raised their target price on Northern Trust from $108.00 to $110.00 and gave the company an “equal weight” rating in a report on Friday, November 15th. StockNews.com raised Northern Trust from a “hold” rating to a “buy” rating in a report on Tuesday, December 10th. Morgan Stanley reduced their price objective on Northern Trust from $127.00 to $125.00 and set an “equal weight” rating on the stock in a research note on Friday, January 3rd. Finally, The Goldman Sachs Group downgraded Northern Trust from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $84.00 to $82.00 in a research note on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $107.17.

Northern Trust Stock Down 0.4 %

NTRS stock opened at $102.75 on Tuesday. The company has a market cap of $20.37 billion, a PE ratio of 12.78, a price-to-earnings-growth ratio of 1.18 and a beta of 1.08. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. Northern Trust has a 52 week low of $76.67 and a 52 week high of $111.87. The business has a 50-day simple moving average of $105.63 and a 200 day simple moving average of $94.78.

Northern Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 1st. Investors of record on Friday, December 6th were given a dividend of $0.75 per share. The ex-dividend date was Friday, December 6th. This represents a $3.00 annualized dividend and a yield of 2.92%. Northern Trust’s dividend payout ratio is presently 37.31%.

Insider Buying and Selling at Northern Trust

In related news, Vice Chairman Steven L. Fradkin sold 27,874 shares of the stock in a transaction on Friday, October 25th. The stock was 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 in the company, valued at $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 available at this hyperlink. Also, insider Teresa Parker sold 4,439 shares of Northern Trust stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $100.86, for a total value of $447,717.54. Following the transaction, the insider now directly owns 79,326 shares in the company, valued at $8,000,820.36. The trade was a 5.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 82,151 shares of company stock worth $8,489,889. 0.64% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its stake in Northern Trust by 9.9% during the third quarter. JPMorgan Chase & Co. now owns 4,296,442 shares of the asset manager’s stock worth $386,809,000 after buying an additional 388,692 shares during the last quarter. Kovitz Investment Group Partners LLC raised its position in shares of Northern Trust by 68.1% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 13,765 shares of the asset manager’s stock worth $1,239,000 after acquiring an additional 5,578 shares in the last quarter. Martingale Asset Management L P lifted its stake in shares of Northern Trust by 8.4% in the 3rd quarter. Martingale Asset Management L P now owns 59,118 shares of the asset manager’s stock valued at $5,322,000 after purchasing an additional 4,564 shares during the period. Verition Fund Management LLC boosted its position in shares of Northern Trust by 327.1% during the 3rd quarter. Verition Fund Management LLC now owns 28,510 shares of the asset manager’s stock valued at $2,567,000 after purchasing an additional 21,835 shares in the last quarter. Finally, Magnetar Financial LLC acquired a new stake in Northern Trust during the second quarter worth approximately $3,666,000. 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.