Northern Trust Co. (NASDAQ:NTRS) Short Interest Up 19.6% in February

Northern Trust Co. (NASDAQ:NTRS) was the target of a significant increase in short interest during the month of February. As of February 28th, there was short interest totalling 3,300,000 shares, an increase of 19.6% from the February 13th total of 2,760,000 shares. Approximately 1.7% of the company’s shares are short sold. Based on an average daily volume of 1,280,000 shares, the days-to-cover ratio is presently 2.6 days.

Northern Trust Stock Performance

NASDAQ:NTRS traded up $0.99 during trading hours on Wednesday, reaching $99.27. The company had a trading volume of 1,201,019 shares, compared to its average volume of 1,171,000. Northern Trust has a 1-year low of $79.32 and a 1-year high of $114.67. The firm has a market cap of $19.43 billion, a PE ratio of 10.15, a price-to-earnings-growth ratio of 1.72 and a beta of 1.07. The business’s 50 day moving average price is $107.56 and its 200-day moving average price is $102.37. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.68 and a quick ratio of 0.71.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings results on Thursday, January 23rd. The asset manager reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $0.30. Northern Trust had a return on equity of 13.74% and a net margin of 12.77%. Research analysts forecast that Northern Trust will post 8.27 EPS for the current year.

Northern Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 3.02%. The ex-dividend date is Friday, March 14th. Northern Trust’s payout ratio is 30.67%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on NTRS shares. Keefe, Bruyette & Woods lifted their price objective on Northern Trust from $113.00 to $122.00 and gave the company a “market perform” rating in a report on Friday, January 24th. The Goldman Sachs Group lifted their target price on Northern Trust from $92.00 to $102.00 and gave the company a “sell” rating in a research note on Friday, January 24th. StockNews.com lowered Northern Trust from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. UBS Group lifted their target price on Northern Trust from $110.00 to $114.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. Finally, Truist Financial lifted their target price on Northern Trust from $110.00 to $116.00 and gave the company a “hold” rating in a research note on Friday, January 24th. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $113.50.

Insider Transactions at Northern Trust

In related news, EVP Thomas A. South sold 3,804 shares of Northern Trust stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $113.00, for a total value of $429,852.00. Following the completion of the sale, the executive vice president now directly owns 81,794 shares in the company, valued at $9,242,722. The trade was a 4.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider John Landers sold 900 shares of Northern Trust stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $111.44, for a total value of $100,296.00. Following the completion of the sale, the insider now owns 7,640 shares of the company’s stock, valued at $851,401.60. The trade was a 10.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,335 shares of company stock worth $3,970,211. 0.64% of the stock is currently owned by insiders.

Institutional Trading of Northern Trust

Several large investors have recently added to or reduced their stakes in NTRS. Y.D. More Investments Ltd grew its holdings in shares of Northern Trust by 118.4% during the 4th quarter. Y.D. More Investments Ltd now owns 249 shares of the asset manager’s stock worth $26,000 after purchasing an additional 135 shares during the period. Colonial Trust Co SC lifted its stake in Northern Trust by 6,400.0% during the 4th quarter. Colonial Trust Co SC now owns 260 shares of the asset manager’s stock worth $27,000 after acquiring an additional 256 shares in the last quarter. Assetmark Inc. raised its position in Northern Trust by 528.3% in the 4th quarter. Assetmark Inc. now owns 377 shares of the asset manager’s stock valued at $39,000 after purchasing an additional 317 shares in the last quarter. Brooklyn Investment Group raised its position in Northern Trust by 51.2% in the 4th quarter. Brooklyn Investment Group now owns 378 shares of the asset manager’s stock valued at $39,000 after purchasing an additional 128 shares in the last quarter. Finally, True Wealth Design LLC raised its position in shares of Northern Trust by 84.0% during the 4th quarter. True Wealth Design LLC now owns 425 shares of the asset manager’s stock worth $44,000 after acquiring an additional 194 shares in the last quarter. 83.19% of the stock is currently owned by hedge funds and other institutional investors.

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.