Northern Trust (NASDAQ:NTRS) Director Acquires $500,265.87 in Stock

Northern Trust Corporation (NASDAQ:NTRS) Director Robert Edward Jr. Moritz acquired 3,891 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The shares were purchased at an average cost of $128.57 per share, with a total value of $500,265.87. Following the completion of the transaction, the director owned 6,686 shares in the company, valued at approximately $859,619.02. The trade was a 139.21% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Monday, October 27th, Robert Edward Jr. Moritz acquired 270 shares of Northern Trust stock. The stock was purchased at an average cost of $126.66 per share, with a total value of $34,198.20.
• On Wednesday, August 13th, Robert Edward Jr. Moritz purchased 256 shares of Northern Trust stock. The stock was bought at an average price of $126.34 per share, for a total transaction of $32,343.04.

Northern Trust Stock Performance

Northern Trust stock traded up $0.65 during trading hours on Wednesday, reaching $128.19. 827,468 shares of the stock were exchanged, compared to its average volume of 1,470,247. Northern Trust Corporation has a 52-week low of $81.62 and a 52-week high of $135.48. The stock has a market cap of $24.51 billion, a P/E ratio of 14.94, a P/E/G ratio of 1.37 and a beta of 1.31. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.72 and a current ratio of 0.70. The firm’s 50 day moving average is $129.38 and its 200 day moving average is $120.38.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings data on Wednesday, October 22nd. The asset manager reported $2.29 EPS for the quarter, beating the consensus estimate of $2.26 by $0.03. Northern Trust had a net margin of 11.99% and a return on equity of 14.37%. The firm had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.02 billion. During the same quarter last year, the business earned $2.22 earnings per share. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. Analysts predict that Northern Trust Corporation will post 8.27 EPS for the current fiscal year.

Northern Trust Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 1st. Investors of record on Friday, December 5th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $3.20 dividend on an annualized basis and a yield of 2.5%. Northern Trust’s dividend payout ratio is presently 37.30%.

Institutional Trading of Northern Trust

A number of institutional investors have recently added to or reduced their stakes in the business. Salomon & Ludwin LLC lifted its stake in shares of Northern Trust by 13.1% during the third quarter. Salomon & Ludwin LLC now owns 682 shares of the asset manager’s stock worth $90,000 after purchasing an additional 79 shares in the last quarter. New York Life Investment Management LLC raised its holdings in shares of Northern Trust by 0.3% during the 2nd quarter. New York Life Investment Management LLC now owns 29,132 shares of the asset manager’s stock valued at $3,694,000 after buying an additional 80 shares during the period. HighPoint Advisor Group LLC lifted its position in Northern Trust by 2.3% during the 3rd quarter. HighPoint Advisor Group LLC now owns 3,717 shares of the asset manager’s stock worth $500,000 after acquiring an additional 84 shares in the last quarter. Welch Group LLC boosted its holdings in Northern Trust by 2.8% in the 2nd quarter. Welch Group LLC now owns 3,153 shares of the asset manager’s stock worth $400,000 after acquiring an additional 87 shares during the period. Finally, MassMutual Private Wealth & Trust FSB grew its position in Northern Trust by 9.0% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,062 shares of the asset manager’s stock valued at $135,000 after acquiring an additional 88 shares in the last quarter. 83.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on NTRS shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Northern Trust in a research note on Wednesday, October 8th. Evercore ISI lifted their price objective on Northern Trust from $125.00 to $135.00 and gave the company an “in-line” rating in a research report on Tuesday, September 30th. Barclays upped their target price on Northern Trust from $128.00 to $136.00 and gave the company an “equal weight” rating in a research note on Thursday, July 24th. Keefe, Bruyette & Woods raised their price target on Northern Trust from $123.00 to $125.00 and gave the stock an “underperform” rating in a research note on Thursday, October 23rd. Finally, Wolfe Research upgraded Northern Trust from an “underperform” rating to a “peer perform” rating in a report on Thursday, July 24th. Five analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, Northern Trust has a consensus rating of “Hold” and a consensus price target of $130.71.

Northern Trust Company Profile

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.