Key Points
- CFO David Fox, Jr. sold 3,255 shares on March 4 at an average price of $143.89 for $468,361.95, cutting his stake by 18.28% to 14,552 shares (about $2.09M); the sale was disclosed in an SEC filing.
- Northern Trust beat quarterly EPS estimates ($2.42 vs. $2.37) with revenue of $3.15B (up 8.4% YoY) and declared a quarterly dividend of $0.80 ($3.20 annualized, yield 2.3%, ex-dividend March 6).
- Shares recently traded at $138.40 with a market cap of $25.72B and a P/E of 15.84; analysts' consensus is an average "Hold" rating with an average target price of $148.75.
Northern Trust Corporation (NASDAQ:NTRS - Get Free Report) CFO David Fox, Jr. sold 3,255 shares of the stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $143.89, for a total transaction of $468,361.95. Following the sale, the chief financial officer directly owned 14,552 shares in the company, valued at approximately $2,093,887.28. The trade was a 18.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Northern Trust Price Performance
Shares of Northern Trust stock traded down $5.10 on Friday, hitting $138.40. The company's stock had a trading volume of 209,012 shares, compared to its average volume of 1,098,672. The company has a market capitalization of $25.72 billion, a price-to-earnings ratio of 15.84, a price-to-earnings-growth ratio of 1.16 and a beta of 1.27. Northern Trust Corporation has a 1 year low of $81.62 and a 1 year high of $157.60. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.69 and a current ratio of 0.69. The firm has a fifty day moving average price of $145.67 and a 200-day moving average price of $135.89.
Northern Trust (NASDAQ:NTRS - Get Free Report) last issued its quarterly earnings data on Friday, January 30th. The asset manager reported $2.42 EPS for the quarter, beating the consensus estimate of $2.37 by $0.05. The company had revenue of $3.15 billion for the quarter. Northern Trust had a return on equity of 14.87% and a net margin of 12.15%.The firm's revenue for the quarter was up 8.4% on a year-over-year basis. During the same period in the previous year, the business posted $2.26 earnings per share. As a group, sell-side analysts anticipate that Northern Trust Corporation will post 8.27 earnings per share for the current fiscal year.
Northern Trust Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 6th will be given a dividend of $0.80 per share. The ex-dividend date is Friday, March 6th. This represents a $3.20 dividend on an annualized basis and a yield of 2.3%. Northern Trust's dividend payout ratio is currently 36.61%.
Hedge Funds Weigh In On Northern Trust
Institutional investors have recently added to or reduced their stakes in the stock. Triumph Capital Management purchased a new stake in Northern Trust in the 3rd quarter valued at $25,000. Reflection Asset Management acquired a new position in shares of Northern Trust during the 4th quarter valued at about $25,000. Hantz Financial Services Inc. grew its holdings in shares of Northern Trust by 5,225.0% in the second quarter. Hantz Financial Services Inc. now owns 213 shares of the asset manager's stock valued at $27,000 after purchasing an additional 209 shares during the period. AlphaCore Capital LLC increased its position in Northern Trust by 87.4% during the second quarter. AlphaCore Capital LLC now owns 208 shares of the asset manager's stock worth $27,000 after purchasing an additional 97 shares during the last quarter. Finally, Board of the Pension Protection Fund acquired a new position in Northern Trust in the 4th quarter valued at about $27,000. Hedge funds and other institutional investors own 83.19% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on NTRS shares. Wells Fargo & Company boosted their target price on shares of Northern Trust from $145.00 to $150.00 and gave the stock an "equal weight" rating in a research note on Friday, January 23rd. TD Cowen boosted their price objective on Northern Trust from $165.00 to $175.00 and gave the stock a "buy" rating in a research note on Monday, January 26th. Citigroup began coverage on Northern Trust in a research report on Monday, February 23rd. They issued a "neutral" rating on the stock. Wall Street Zen upgraded Northern Trust from a "sell" rating to a "hold" rating in a research report on Saturday, December 27th. Finally, Royal Bank Of Canada raised their price objective on Northern Trust from $139.00 to $159.00 and gave the company an "outperform" rating in a report on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $148.75.
View Our Latest Research Report on NTRS
About Northern Trust
(
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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