Northern Trust (NASDAQ:NTRS) Coverage Initiated at Truist Financial

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

Several other equities research analysts have also commented on NTRS. UBS Group upped their price objective on Northern Trust from $86.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 8th. Keefe, Bruyette & Woods raised their price target on shares of Northern Trust from $100.00 to $113.00 and gave the company a “market perform” rating in a research report on Tuesday, December 3rd. Barclays upped their price objective 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. StockNews.com upgraded Northern Trust from a “hold” rating to a “buy” rating in a research report on Tuesday, December 10th. Finally, Wells Fargo & Company upped their price target on Northern Trust from $108.00 to $110.00 and gave the stock an “equal weight” rating in a report on Friday, November 15th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $107.17.

Northern Trust Stock Performance

Shares of NTRS stock opened at $102.22 on Tuesday. Northern Trust has a 52-week low of $76.67 and a 52-week high of $111.87. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. The stock has a market cap of $20.26 billion, a PE ratio of 12.71, a price-to-earnings-growth ratio of 1.18 and a beta of 1.08. The business has a 50-day simple moving average of $105.68 and a 200-day simple moving average of $94.88.

Northern Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 1st. Stockholders of record on Friday, December 6th were given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date of this dividend was Friday, December 6th. Northern Trust’s dividend payout ratio (DPR) is 37.31%.

Insider Buying and Selling

In related news, insider Teresa Parker sold 4,439 shares of Northern Trust stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $100.86, for a total transaction of $447,717.54. Following the transaction, the insider now owns 79,326 shares in the company, valued at approximately $8,000,820.36. This trade represents a 5.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Vice Chairman Steven L. Fradkin sold 9,100 shares of the company’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $111.00, for a total value of $1,010,100.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 82,151 shares of company stock worth $8,489,889. 0.64% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Northwest Investment Counselors LLC acquired a new stake in Northern Trust during the third quarter worth about $39,000. Capital Performance Advisors LLP acquired a new stake in shares of Northern Trust during the 3rd quarter worth approximately $48,000. Eastern Bank purchased a new stake in shares of Northern Trust during the 3rd quarter valued at approximately $51,000. Catalyst Capital Advisors LLC acquired a new position in Northern Trust in the third quarter valued at approximately $68,000. Finally, Versant Capital Management Inc grew its position in Northern Trust by 34.9% in the fourth quarter. Versant Capital Management Inc now owns 684 shares of the asset manager’s stock worth $70,000 after acquiring an additional 177 shares during the period. Institutional investors and hedge funds 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.