Northern Trust (NASDAQ:NTRS) Downgraded to Hold Rating by StockNews.com

StockNews.com cut shares of Northern Trust (NASDAQ:NTRS) from a buy rating to a hold rating in a report issued on Tuesday.

Other equities analysts also recently issued reports about the stock. Royal Bank of Canada increased their target price on shares of Northern Trust from $100.00 to $107.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Barclays raised their price objective on Northern Trust from $115.00 to $118.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Keefe, Bruyette & Woods lifted their price target on shares of Northern Trust from $100.00 to $113.00 and gave the company a “market perform” rating in a research report on Tuesday, December 3rd. Truist Financial initiated coverage on shares of Northern Trust in a report on Tuesday, January 7th. They set a “hold” rating and a $110.00 price objective for the company. Finally, UBS Group boosted their target price on shares of Northern Trust from $86.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $107.17.

Northern Trust Price Performance

NASDAQ NTRS opened at $101.63 on Tuesday. The company has a 50 day moving average price of $105.68 and a two-hundred day moving average price of $95.42. Northern Trust has a 12-month low of $76.67 and a 12-month high of $111.87. The stock has a market capitalization of $20.14 billion, a PE ratio of 12.64, 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 1st. Stockholders of record on Friday, December 6th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date of this dividend was Friday, December 6th. Northern Trust’s payout ratio is 37.31%.

Insider Activity

In other news, EVP Susan Cohen Levy sold 19,585 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $102.26, for a total value of $2,002,762.10. Following the sale, the executive vice president now directly owns 17,132 shares in the company, valued at approximately $1,751,918.32. This represents a 53.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Teresa Parker sold 4,439 shares of the firm’s stock in a transaction that occurred on 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 owns 79,326 shares of the company’s stock, valued at $8,000,820.36. This trade represents a 5.30 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 82,151 shares of company stock worth $8,489,889. Corporate insiders own 0.64% of the company’s stock.

Institutional Investors Weigh In On Northern Trust

A number of hedge funds have recently made changes to their positions in the company. Park Avenue Securities LLC bought a new stake in Northern Trust during the fourth quarter worth about $212,000. Kathmere Capital Management LLC acquired a new position in shares of Northern Trust in the 4th quarter worth approximately $273,000. Assenagon Asset Management S.A. grew its position in Northern Trust by 4.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 3,939 shares of the asset manager’s stock worth $404,000 after acquiring an additional 166 shares during the last quarter. Fifth Third Wealth Advisors LLC acquired a new stake in Northern Trust during the 4th quarter valued at $213,000. Finally, Pallas Capital Advisors LLC raised its position in Northern Trust by 1.8% in the 4th quarter. Pallas Capital Advisors LLC now owns 6,091 shares of the asset manager’s stock valued at $624,000 after purchasing an additional 107 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.