Key Points
- Insider sale: Guy Gibson sold 1,043 shares of Northern Trust on Feb. 12 at an average price of $147.43 for about $153,769, reducing his holding by 2.89% to 35,013 shares (≈$5.16M).
- Quarterly results & dividend: Northern Trust beat EPS estimates ($2.42 vs. $2.37) with revenue of $3.15B (up 8.4%) and declared a $0.80 quarterly dividend ($3.20 annual, 2.2% yield; ex-dividend March 6).
- Analyst consensus: MarketBeat shows a consensus rating of "Hold" with an average price target of $148.75.
Northern Trust Corporation (NASDAQ:NTRS - Get Free Report) insider Guy Gibson sold 1,043 shares of the stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $147.43, for a total transaction of $153,769.49. Following the transaction, the insider owned 35,013 shares in the company, valued at approximately $5,161,966.59. This trade represents a 2.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Northern Trust Trading Up 1.5%
NASDAQ:NTRS opened at $146.38 on Friday. The company has a market cap of $27.68 billion, a PE ratio of 16.75, a price-to-earnings-growth ratio of 1.17 and a beta of 1.27. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.57. The company has a 50 day simple moving average of $143.94 and a two-hundred day simple moving average of $134.21. Northern Trust Corporation has a 12 month low of $81.62 and a 12 month high of $157.60.
Northern Trust (NASDAQ:NTRS - Get Free Report) last released its quarterly earnings results on Friday, January 30th. The asset manager reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.37 by $0.05. Northern Trust had a return on equity of 14.87% and a net margin of 12.15%.The firm had revenue of $3.15 billion for the quarter. During the same period in the previous year, the company earned $2.26 earnings per share. Northern Trust's quarterly revenue was up 8.4% compared to the same quarter last year. Research analysts forecast that Northern Trust Corporation will post 8.27 earnings per share for the current year.
Northern Trust Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 6th will be issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date is Friday, March 6th. Northern Trust's payout ratio is currently 36.61%.
Institutional Investors Weigh In On Northern Trust
Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Northern Trust by 0.8% during the 2nd quarter. Vanguard Group Inc. now owns 22,593,674 shares of the asset manager's stock worth $2,864,652,000 after buying an additional 188,472 shares in the last quarter. State Street Corp raised its position in shares of Northern Trust by 1.0% in the third quarter. State Street Corp now owns 9,493,634 shares of the asset manager's stock valued at $1,285,236,000 after buying an additional 97,584 shares during the last quarter. Primecap Management Co. CA lifted its stake in shares of Northern Trust by 19.5% in the second quarter. Primecap Management Co. CA now owns 7,793,757 shares of the asset manager's stock worth $988,170,000 after buying an additional 1,270,748 shares in the last quarter. Geode Capital Management LLC boosted its position in Northern Trust by 3.7% during the second quarter. Geode Capital Management LLC now owns 5,196,659 shares of the asset manager's stock worth $656,229,000 after acquiring an additional 184,726 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in Northern Trust by 1.7% in the 2nd quarter. Invesco Ltd. now owns 3,501,628 shares of the asset manager's stock valued at $443,971,000 after acquiring an additional 58,029 shares during the last quarter. Institutional investors and hedge funds own 83.19% of the company's stock.
Analysts Set New Price Targets
A number of analysts recently issued reports on the company. Weiss Ratings restated a "buy (b-)" rating on shares of Northern Trust in a research report on Thursday, January 22nd. TD Cowen lifted their price objective on shares of Northern Trust from $165.00 to $175.00 and gave the company a "buy" rating in a report on Monday, January 26th. Barclays raised their target price on shares of Northern Trust from $136.00 to $160.00 and gave the stock an "equal weight" rating in a research report on Monday, January 5th. Truist Financial set a $148.00 target price on shares of Northern Trust in a research report on Wednesday, January 7th. Finally, Zacks Research raised shares of Northern Trust from a "hold" rating to a "strong-buy" rating in a report on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $148.75.
Read Our Latest Stock Report on Northern Trust
Northern Trust Company Profile
(
Get Free Report)
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.
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