Northern Trust (NASDAQ:NTRS) Research Coverage Started at Truist Financial

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

A number of other equities analysts have also recently commented on the stock. UBS Group lifted their price target on shares of Northern Trust from $86.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 8th. Wells Fargo & Company upped their target price on Northern Trust from $108.00 to $110.00 and gave the company an “equal weight” rating in a research note on Friday, November 15th. The Goldman Sachs Group lowered 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 research note on Thursday, September 26th. Barclays upped their price objective on Northern Trust from $115.00 to $118.00 and gave the company an “equal weight” rating in a research report on Monday. Finally, Morgan Stanley decreased their target price on Northern Trust from $127.00 to $125.00 and set an “equal weight” rating for the company in a research report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $107.17.

Northern Trust Stock Performance

NASDAQ:NTRS opened at $102.22 on Tuesday. The firm has a market capitalization of $20.26 billion, a PE ratio of 12.71, a PEG ratio of 1.18 and a beta of 1.08. The stock’s fifty day moving average is $105.68 and its 200 day moving average is $94.88. Northern Trust has a fifty-two week low of $76.67 and a fifty-two week high of $111.87. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 1st. Shareholders of record on Friday, December 6th were issued a dividend of $0.75 per share. The ex-dividend date was Friday, December 6th. This represents a $3.00 dividend on an annualized basis and a yield of 2.93%. Northern Trust’s dividend payout ratio is currently 37.31%.

Insider Transactions at Northern Trust

In other Northern Trust news, EVP Susan Cohen Levy sold 19,585 shares of the firm’s stock in a transaction dated 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 completion of the sale, the executive vice president now owns 17,132 shares of the company’s stock, valued at approximately $1,751,918.32. This trade represents a 53.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Steven L. Fradkin sold 9,100 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were 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 trade represents a 15.99 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 82,151 shares of company stock valued at $8,489,889. Corporate insiders own 0.64% of the company’s stock.

Institutional Trading of Northern Trust

Several large investors have recently bought and sold shares of the stock. FMR LLC grew its holdings in shares of Northern Trust by 9.3% during the third quarter. FMR LLC now owns 18,187,663 shares of the asset manager’s stock valued at $1,637,435,000 after buying an additional 1,542,685 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position 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 worth $622,596,000 after acquiring an additional 850,556 shares during the period. JPMorgan Chase & Co. grew its stake in Northern Trust by 9.9% during 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 increased its holdings in shares of Northern Trust by 3.9% in the second 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 during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Northern Trust by 12.3% in the second 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. Hedge funds and other institutional investors 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.