Northern Trust (NASDAQ:NTRS) EVP Sells $332,820.00 in Stock

Northern Trust Corporation (NASDAQ:NTRS) EVP Thomas South sold 1,800 shares of the business’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $184.90, for a total value of $332,820.00. Following the sale, the executive vice president owned 92,917 shares in the company, valued at approximately $17,180,353.30. The trade was a 1.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Northern Trust Stock Down 0.7%

Shares of NTRS stock opened at $186.27 on Friday. Northern Trust Corporation has a fifty-two week low of $121.12 and a fifty-two week high of $195.78. The firm has a market capitalization of $34.08 billion, a PE ratio of 15.99, a P/E/G ratio of 1.06 and a beta of 1.25. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.65 and a current ratio of 0.65. The stock’s 50-day simple moving average is $182.57 and its 200-day simple moving average is $164.39.

Northern Trust (NASDAQ:NTRS) last released its earnings results on Wednesday, July 22nd. The asset manager reported $4.23 EPS for the quarter, topping analysts’ consensus estimates of $2.71 by $1.52. The firm had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.69 billion. Northern Trust had a return on equity of 16.91% and a net margin of 14.76%.The company’s revenue was up 35.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.13 earnings per share. Equities analysts expect that Northern Trust Corporation will post 11.59 earnings per share for the current year.

Northern Trust Increases Dividend

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

Hedge Funds Weigh In On Northern Trust

A number of hedge funds have recently bought and sold shares of NTRS. Concurrent Investment Advisors LLC purchased a new position in Northern Trust during the fourth quarter valued at $1,959,000. PFA Pension Forsikringsaktieselskab purchased a new stake in shares of Northern Trust during the fourth quarter worth about $67,126,000. Northwestern Mutual Wealth Management Co. raised its position in shares of Northern Trust by 1,838.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 180,034 shares of the asset manager’s stock worth $22,793,000 after purchasing an additional 170,745 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Northern Trust by 5.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,894,755 shares of the asset manager’s stock worth $395,395,000 after purchasing an additional 161,826 shares during the last quarter. Finally, Strs Ohio lifted its stake in Northern Trust by 83.0% in the 4th quarter. Strs Ohio now owns 136,403 shares of the asset manager’s stock valued at $18,631,000 after buying an additional 61,858 shares in the last quarter. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Analysts Set New Price Targets

NTRS has been the topic of several recent research reports. Bank of America upped their price objective on shares of Northern Trust from $190.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. Truist Financial boosted their target price on shares of Northern Trust from $176.00 to $186.00 and gave the company a “hold” rating in a research report on Friday, June 26th. Evercore set a $179.00 price target on shares of Northern Trust in a report on Monday, July 6th. Citigroup increased their price target on Northern Trust from $162.00 to $172.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 30th. Finally, Wells Fargo & Company lifted their price objective 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. Four equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Northern Trust presently has an average rating of “Hold” and a consensus target price of $180.68.

Northern Trust Company Profile

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.