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

Equities research analysts at Truist Financial assumed coverage on shares of Northern Trust (NASDAQ:NTRS) in a research report issued on Tuesday,Benzinga reports. The firm set a “hold” rating and a $110.00 price target on the asset manager’s stock. Truist Financial’s price objective suggests a potential upside of 7.61% from the company’s current price.

A number of other equities research analysts have also recently commented on the company. StockNews.com upgraded Northern Trust from a “hold” rating to a “buy” rating in a research note on Tuesday, December 10th. Royal Bank of Canada upped their price target on shares of Northern Trust from $100.00 to $107.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Bank of America lifted their price objective 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. Barclays upped their target price on Northern Trust from $115.00 to $118.00 and gave the company an “equal weight” rating in a research report on Monday. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Northern Trust from $100.00 to $108.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $107.17.

Northern Trust Stock Performance

Shares of NTRS stock opened at $102.22 on Tuesday. Northern Trust has a 12-month low of $76.67 and a 12-month high of $111.87. The business’s fifty day simple moving average is $105.64 and its 200-day simple moving average is $94.83. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The company has a market cap of $20.26 billion, a PE ratio of 12.71, a PEG ratio of 1.18 and a beta of 1.08.

Insider Transactions at Northern Trust

In other Northern Trust news, Vice Chairman Steven L. Fradkin sold 9,100 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $111.00, for a total transaction of $1,010,100.00. Following the transaction, the insider now owns 47,797 shares in the company, valued at approximately $5,305,467. This represents a 15.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Peter Cherecwich sold 16,153 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief operating officer now directly owns 4,397 shares in the company, valued at approximately $462,476.46. The trade was a 78.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 82,151 shares of company stock valued at $8,489,889 in the last ninety days. 0.64% of the stock is currently owned by corporate insiders.

Institutional Trading of Northern Trust

Several institutional investors have recently modified their holdings of NTRS. FMR LLC boosted its holdings in Northern Trust by 9.3% in the 3rd quarter. FMR LLC now owns 18,187,663 shares of the asset manager’s stock worth $1,637,435,000 after buying an additional 1,542,685 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Northern Trust by 13.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,413,620 shares of the asset manager’s stock worth $622,596,000 after purchasing an additional 850,556 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Northern Trust by 9.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,296,442 shares of the asset manager’s stock valued at $386,809,000 after purchasing an additional 388,692 shares during the last quarter. Primecap Management Co. CA lifted its holdings in Northern Trust by 3.9% in 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 in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Northern Trust by 12.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,003,675 shares of the asset manager’s stock worth $168,253,000 after purchasing an additional 219,387 shares during the last quarter. Institutional investors and hedge funds own 83.19% of the company’s stock.

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.