Insider Buying: Northern Trust (NASDAQ:NTRS) Director Buys $45,790.35 in Stock

Northern Trust Corporation (NASDAQ:NTRS) Director Robert Edward Jr. Moritz acquired 255 shares of the firm’s stock in a transaction on Wednesday, July 29th. The shares were bought at an average cost of $179.57 per share, for a total transaction of $45,790.35. Following the acquisition, the director owned 8,400 shares in the company, valued at approximately $1,508,388. The trade was a 3.13% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Robert Edward Jr. Moritz also recently made the following trade(s):

• On Friday, May 1st, Robert Edward Jr. Moritz acquired 225 shares of Northern Trust stock. The stock was bought at an average price of $166.41 per share, with a total value of $37,442.25.

Northern Trust Trading Down 0.2%

Shares of NASDAQ NTRS opened at $182.19 on Friday. Northern Trust Corporation has a 1-year low of $121.12 and a 1-year high of $191.60. The company has a 50-day moving average of $176.30 and a two-hundred day moving average of $159.17. The company has a market cap of $33.71 billion, a PE ratio of 15.64, a P/E/G ratio of 1.03 and a beta of 1.25. The company has a current ratio of 0.65, a quick ratio of 0.62 and a debt-to-equity ratio of 0.43.

Northern Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 4th will be given a $0.88 dividend. This is a boost from Northern Trust’s previous quarterly dividend of $0.80. The ex-dividend date is Friday, September 4th. This represents a $3.52 annualized dividend and a yield of 1.9%. Northern Trust’s dividend payout ratio is presently 27.47%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on NTRS shares. Bank of America upped their price objective on Northern Trust from $190.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. Weiss Ratings upgraded Northern Trust from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 4th. Truist Financial boosted their target price on Northern Trust from $176.00 to $186.00 and gave the stock a “hold” rating in a research report on Friday, June 26th. Wells Fargo & Company upped their price target on Northern Trust from $189.00 to $194.00 and gave the company an “equal weight” rating in a research note on Thursday, July 23rd. Finally, BMO Capital Markets upgraded Northern Trust from a “market perform” rating to an “outperform” rating and set a $168.00 price target on the stock in a report on Monday, April 6th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $180.25.

Institutional Trading of Northern Trust

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank bought a new stake in Northern Trust during the 4th quarter worth approximately $257,410,000. Eurizon Capital SGR S.p.A. acquired a new stake in Northern Trust during the 4th quarter worth approximately $126,794,000. AQR Capital Management LLC lifted its stake in Northern Trust by 69.0% in the fourth quarter. AQR Capital Management LLC now owns 1,723,516 shares of the asset manager’s stock valued at $235,415,000 after buying an additional 703,985 shares in the last quarter. Jupiter Asset Management Ltd. lifted its stake in Northern Trust by 114.1% in the fourth quarter. Jupiter Asset Management Ltd. now owns 1,031,579 shares of the asset manager’s stock valued at $140,903,000 after buying an additional 549,681 shares in the last quarter. Finally, PFA Pension Forsikringsaktieselskab acquired a new position in shares of Northern Trust in the fourth quarter valued at approximately $67,126,000. 83.19% of the stock is owned by institutional investors.

About Northern Trust

Northern Trust Corporation (NASDAQ: NTRS) is a global financial services firm headquartered in Chicago that provides asset servicing, asset management and wealth management solutions to institutions, corporations and high-net-worth individuals. The company’s core businesses include custody and fund administration, investment operations outsourcing, trust and fiduciary services, private banking, and retirement and defined contribution plan services.

Northern Trust’s product and service offerings span custody and fund accounting, portfolio and performance analytics, securities lending, cash management and foreign exchange, as well as discretionary and non-discretionary investment management.