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

Stock analysts at Truist Financial began coverage on shares of Northern Trust (NASDAQ:NTRS) in a research note 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 indicates a potential upside of 6.58% from the company’s current price.

NTRS has been the subject of several other reports. Royal Bank of Canada increased their price objective on Northern Trust from $100.00 to $107.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Wells Fargo & Company boosted their price objective 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. Evercore ISI increased their target price on shares of Northern Trust from $86.00 to $103.00 and gave the company an “in-line” rating in a research note on Thursday, October 24th. Barclays boosted their price target on Northern Trust from $115.00 to $118.00 and gave the company an “equal weight” rating in a research note on Monday. Finally, Bank of America raised their price objective on Northern Trust from $103.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $107.17.

Northern Trust Trading Down 0.1 %

Northern Trust stock opened at $103.21 on Tuesday. The business’s 50-day simple moving average is $105.62 and its 200-day simple moving average is $94.64. Northern Trust has a 52 week low of $76.67 and a 52 week high of $111.87. The firm has a market capitalization of $20.46 billion, a PE ratio of 12.84, a PEG ratio of 1.18 and a beta of 1.08. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71.

Insiders Place Their Bets

In other Northern Trust news, EVP Thomas A. South sold 5,000 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $105.80, for a total value of $529,000.00. Following the transaction, the executive vice president now directly owns 49,756 shares in the company, valued at approximately $5,264,184.80. This trade represents a 9.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Vice Chairman Steven L. Fradkin sold 27,874 shares of Northern Trust stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $100.50, for a total value of $2,801,337.00. Following the completion of the sale, the insider now owns 46,078 shares of the company’s stock, valued at approximately $4,630,839. The trade was a 37.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 82,151 shares of company stock valued at $8,489,889. 0.64% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Northern Trust

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NTRS. JPMorgan Chase & Co. grew its holdings in Northern Trust by 9.9% during 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 period. Kovitz Investment Group Partners LLC boosted its position in shares of Northern Trust by 68.1% during the third quarter. Kovitz Investment Group Partners LLC now owns 13,765 shares of the asset manager’s stock worth $1,239,000 after purchasing an additional 5,578 shares in the last quarter. Martingale Asset Management L P grew its holdings in shares of Northern Trust by 8.4% in the 3rd quarter. Martingale Asset Management L P now owns 59,118 shares of the asset manager’s stock valued at $5,322,000 after buying an additional 4,564 shares during the period. Verition Fund Management LLC increased its position in shares of Northern Trust by 327.1% in the 3rd quarter. Verition Fund Management LLC now owns 28,510 shares of the asset manager’s stock valued at $2,567,000 after buying an additional 21,835 shares in the last quarter. Finally, Magnetar Financial LLC acquired a new stake in Northern Trust during the 2nd quarter worth $3,666,000. 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.