Northern Trust (NASDAQ:NTRS) Earns Hold Rating from Analysts at Truist Financial

Research analysts at Truist Financial started coverage on shares of Northern Trust (NASDAQ:NTRS) in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage 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 7.61% from the stock’s previous close.

Several other research firms have also weighed in on NTRS. Morgan Stanley decreased their target price on shares of Northern Trust from $127.00 to $125.00 and set an “equal weight” rating on the stock in a report on Friday, January 3rd. StockNews.com upgraded Northern Trust from a “hold” rating to a “buy” rating in a research report on Tuesday, December 10th. The Goldman Sachs Group downgraded Northern Trust from a “neutral” rating to a “sell” rating and reduced their target price for the company from $84.00 to $82.00 in a research report on Thursday, September 26th. UBS Group increased their price target on Northern Trust from $86.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft upped their target price 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. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $107.17.

Northern Trust Stock Down 0.5 %

NASDAQ NTRS opened at $102.22 on Tuesday. 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’s fifty day simple moving average is $105.64 and its 200-day simple moving average is $94.83. The firm has a market cap of $20.26 billion, a PE ratio of 12.71, a P/E/G ratio of 1.18 and a beta of 1.08.

Insiders Place Their Bets

In related news, Vice Chairman Steven L. Fradkin sold 9,100 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Susan Cohen Levy sold 19,585 shares of Northern Trust stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $102.26, for a total transaction of $2,002,762.10. Following the completion of the transaction, the executive vice president now owns 17,132 shares of the company’s stock, valued at $1,751,918.32. This represents a 53.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 82,151 shares of company stock worth $8,489,889 over the last 90 days. Corporate insiders own 0.64% of the company’s stock.

Hedge Funds Weigh In On Northern Trust

Several large investors have recently bought and sold shares of NTRS. FMR LLC boosted its position 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 worth $1,637,435,000 after acquiring an additional 1,542,685 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake 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 worth $622,596,000 after purchasing an additional 850,556 shares during the last quarter. Primecap Management Co. CA boosted its holdings in Northern Trust by 0.5% in the third quarter. Primecap Management Co. CA now owns 7,085,117 shares of the asset manager’s stock valued at $637,873,000 after purchasing an additional 38,360 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Northern Trust by 9.9% in the third 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. Finally, Ariel Investments LLC raised its holdings in Northern Trust by 3.6% during the second quarter. Ariel Investments LLC now owns 2,644,205 shares of the asset manager’s stock worth $222,060,000 after purchasing an additional 91,816 shares in 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.