Truist Financial Begins Coverage on Northern Trust (NASDAQ:NTRS)

Equities research analysts at Truist Financial assumed coverage on shares of Northern Trust (NASDAQ:NTRS) in a 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 target price points to a potential upside of 6.58% from the stock’s previous close.

Other equities analysts have also issued reports about the company. Royal Bank of Canada increased their price target on Northern Trust from $100.00 to $107.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Barclays boosted their price target on shares of Northern Trust from $115.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Northern Trust from $100.00 to $108.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Bank of America boosted their target price on shares of Northern Trust from $103.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Finally, Wells Fargo & Company raised their target price on shares of Northern Trust from $108.00 to $110.00 and gave the stock an “equal weight” rating in a report on Friday, November 15th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $107.17.

Northern Trust Trading Down 0.1 %

Shares of NASDAQ:NTRS opened at $103.21 on Tuesday. The company has a 50 day moving average of $105.62 and a 200-day moving average of $94.64. 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 firm has a market cap of $20.46 billion, a P/E ratio of 12.84, a P/E/G ratio of 1.18 and a beta of 1.08. Northern Trust has a twelve month low of $76.67 and a twelve month high of $111.87.

Insider Activity

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 transaction of $2,801,337.00. Following the completion of the sale, the insider now directly owns 46,078 shares in the company, valued at approximately $4,630,839. This trade represents a 37.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Susan Cohen Levy sold 19,585 shares of the business’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $102.26, for a total value of $2,002,762.10. Following the completion of the transaction, the executive vice president now owns 17,132 shares in the company, valued at $1,751,918.32. This trade represents a 53.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 82,151 shares of company stock worth $8,489,889 in the last 90 days. Company insiders own 0.64% of the company’s stock.

Institutional Trading of Northern Trust

A number of institutional investors have recently added to or reduced their stakes in NTRS. FMR LLC raised its holdings in shares of Northern Trust by 9.3% during the 3rd quarter. FMR LLC now owns 18,187,663 shares of the asset manager’s stock valued at $1,637,435,000 after purchasing an additional 1,542,685 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in 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 valued at $622,596,000 after buying an additional 850,556 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Northern Trust by 9.9% in 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. Primecap Management Co. CA boosted its stake in shares of Northern Trust by 3.9% during the 2nd 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. Finally, Dimensional Fund Advisors LP increased its holdings in shares of 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 valued at $168,253,000 after acquiring an additional 219,387 shares during the last quarter. 83.19% of the stock is currently owned by institutional investors and hedge funds.

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.