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

Equities researchers at Truist Financial assumed coverage on shares of Northern Trust (NASDAQ:NTRS - Get Free Report) 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 price target indicates a potential upside of 7.06% from the stock's current price.

A number of other brokerages also recently weighed in on NTRS. Keefe, Bruyette & Woods boosted their target price on shares of Northern Trust from $100.00 to $113.00 and gave the stock a "market perform" rating in a research note on Tuesday, December 3rd. Morgan Stanley dropped their price objective on shares of Northern Trust from $127.00 to $125.00 and set an "equal weight" rating for the company in a research report on Friday. Evercore ISI increased their price objective on Northern Trust from $86.00 to $103.00 and gave the company an "in-line" rating in a research report on Thursday, October 24th. The Goldman Sachs Group downgraded Northern Trust from a "neutral" rating to a "sell" rating and dropped their target price for the stock from $84.00 to $82.00 in a research report on Thursday, September 26th. Finally, StockNews.com upgraded Northern Trust from a "hold" rating to a "buy" rating in a report on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Northern Trust presently has an average rating of "Hold" and an average target price of $107.17.

Northern Trust Price Performance

Northern Trust stock traded down $0.46 on Tuesday, reaching $102.75. The company's stock had a trading volume of 858,071 shares, compared to its average volume of 915,893. The business's fifty day moving average price is $105.62 and its 200 day moving average price is $94.64. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. The company has a market cap of $20.37 billion, a price-to-earnings ratio of 12.78, a PEG 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 at Northern Trust

In other news, EVP Thomas A. South sold 5,000 shares of the company's stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $105.80, for a total value of $529,000.00. Following the completion of the transaction, the executive vice president now owns 49,756 shares in the company, valued at $5,264,184.80. This represents a 9.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Steven L. Fradkin sold 27,874 shares of the firm's 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 sale, the insider now owns 46,078 shares in the company, 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. Insiders sold a total of 82,151 shares of company stock worth $8,489,889 in the last quarter. Corporate insiders own 0.64% of the company's stock.

Institutional Trading of Northern Trust

Several hedge funds and other institutional investors have recently modified their holdings of the company. Neville Rodie & Shaw Inc. acquired a new position in shares of Northern Trust during the fourth quarter worth about $256,000. Nordea Investment Management AB boosted its position in Northern Trust by 6.6% during the 4th quarter. Nordea Investment Management AB now owns 15,345 shares of the asset manager's stock worth $1,576,000 after acquiring an additional 954 shares during the last quarter. Everence Capital Management Inc. grew its stake in shares of Northern Trust by 144.6% during the 4th quarter. Everence Capital Management Inc. now owns 14,937 shares of the asset manager's stock worth $1,531,000 after acquiring an additional 8,830 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Northern Trust by 18.9% in the fourth quarter. GAMMA Investing LLC now owns 4,268 shares of the asset manager's stock valued at $437,000 after purchasing an additional 677 shares during the last quarter. Finally, Versant Capital Management Inc lifted its position in shares of 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 purchasing an additional 177 shares in the last quarter. 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.