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

Truist Financial started coverage on shares of Northern Trust (NASDAQ:NTRS) in a report released on Tuesday morning,Benzinga reports. The brokerage issued a hold rating and a $110.00 price target on the asset manager’s stock.

A number of other equities analysts have also recently issued reports on NTRS. Deutsche Bank Aktiengesellschaft increased their target price on Northern Trust from $100.00 to $108.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Keefe, Bruyette & Woods raised their price objective on shares of Northern Trust from $100.00 to $113.00 and gave the company a “market perform” rating in a research note on Tuesday, December 3rd. The Goldman Sachs Group downgraded shares of Northern Trust from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $84.00 to $82.00 in a research report on Thursday, September 26th. Bank of America upped 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 lifted their price target 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. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Northern Trust presently has a consensus rating of “Hold” and a consensus price target of $107.17.

Northern Trust Stock Down 0.4 %

NTRS stock opened at $102.75 on Tuesday. The stock’s 50 day simple moving average is $105.63 and its 200 day simple moving average is $94.78. The company has a market cap of $20.37 billion, a P/E ratio of 12.78, a price-to-earnings-growth 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. Northern Trust has a fifty-two week low of $76.67 and a fifty-two week high of $111.87.

Northern Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 1st. Shareholders of record on Friday, December 6th were given a $0.75 dividend. The ex-dividend date was Friday, December 6th. This represents a $3.00 annualized dividend and a yield of 2.92%. Northern Trust’s dividend payout ratio is currently 37.31%.

Insider Buying and Selling at Northern Trust

In other Northern Trust news, COO Peter Cherecwich sold 16,153 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $105.18, for a total value of $1,698,972.54. Following the transaction, the chief operating officer now directly owns 4,397 shares in the company, valued at $462,476.46. The trade was a 78.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Steven L. Fradkin sold 9,100 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $111.00, for a total transaction of $1,010,100.00. Following the sale, the insider now owns 47,797 shares of the company’s stock, valued at approximately $5,305,467. The trade was a 15.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 82,151 shares of company stock worth $8,489,889 in the last quarter. 0.64% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Northwest Investment Counselors LLC bought a new stake in Northern Trust in the 3rd quarter valued at about $39,000. Capital Performance Advisors LLP purchased a new stake in shares of Northern Trust during the 3rd quarter valued at approximately $48,000. Eastern Bank bought a new position in Northern Trust in the 3rd quarter worth approximately $51,000. Versant Capital Management Inc grew its stake in Northern Trust by 34.9% in the 4th quarter. Versant Capital Management Inc now owns 684 shares of the asset manager’s stock valued at $70,000 after buying an additional 177 shares in the last quarter. Finally, Catalyst Capital Advisors LLC purchased a new position in Northern Trust in the 3rd quarter valued at approximately $68,000. Hedge funds and other institutional investors own 83.19% of the company’s stock.

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.