Key Points
- Insider sale: Director Guy Gibson sold 3,009 shares of Northern Trust on March 5 at an average price of $142.39 for a total of $428,451.51, trimming his stake by 9.3% to 29,332 shares (≈$4.18M).
- Dividend announced: Northern Trust declared a quarterly dividend of $0.80 (annualized $3.20), with an ex-dividend date of March 6 and payment on April 1, implying a yield of about 2.3%.
- Results and outlook: The firm beat Q results with EPS of $2.42 vs. $2.37 expected and revenue of $3.15B (up 8.4% YoY); analysts maintain a consensus "Hold" rating with an average target of $148.75.
Northern Trust Corporation (NASDAQ:NTRS - Get Free Report) insider Guy Gibson sold 3,009 shares of the business's stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $142.39, for a total transaction of $428,451.51. Following the completion of the transaction, the insider owned 29,332 shares of the company's stock, valued at approximately $4,176,583.48. This trade represents a 9.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Guy Gibson also recently made the following trade(s):
- On Thursday, February 12th, Guy Gibson sold 1,043 shares of Northern Trust stock. The shares were sold at an average price of $147.43, for a total value of $153,769.49.
Northern Trust Trading Down 3.4%
NASDAQ:NTRS opened at $138.59 on Friday. Northern Trust Corporation has a 12-month low of $81.62 and a 12-month high of $157.60. The firm has a market cap of $25.75 billion, a PE ratio of 15.86, a price-to-earnings-growth ratio of 1.15 and a beta of 1.27. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.57. The stock has a fifty day moving average price of $145.64 and a 200 day moving average price of $135.97.
Northern Trust (NASDAQ:NTRS - Get Free Report) last issued its quarterly earnings results on Friday, January 30th. The asset manager reported $2.42 earnings per share for the quarter, topping 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%.Northern Trust's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.26 EPS. 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 company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 6th will be paid a $0.80 dividend. 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 payout ratio is currently 36.61%.
Hedge Funds Weigh In On Northern Trust
Hedge funds have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Northern Trust during the fourth quarter worth about $59,000. Reflection Asset Management acquired a new stake in shares of Northern Trust in the fourth quarter valued at approximately $25,000. Kera Capital Partners Inc. grew its position in shares of Northern Trust by 76.1% during the fourth quarter. Kera Capital Partners Inc. now owns 4,293 shares of the asset manager's stock worth $642,000 after acquiring an additional 1,855 shares during the last quarter. MV Capital Management Inc. acquired a new position in shares of Northern Trust in the 4th quarter valued at $232,000. Finally, Cambient Family Office LLC acquired a new position in shares of Northern Trust in the 4th quarter valued at $342,000. Hedge funds and other institutional investors own 83.19% of the company's stock.
Analyst Ratings Changes
Several equities research analysts have recently issued reports on NTRS shares. TD Cowen lifted their price objective on shares of Northern Trust from $165.00 to $175.00 and gave the stock a "buy" rating in a research report on Monday, January 26th. Wells Fargo & Company raised their price target on Northern Trust from $145.00 to $150.00 and gave the company an "equal weight" rating in a research note on Friday, January 23rd. Citigroup assumed coverage on Northern Trust in a report on Monday, February 23rd. They set a "neutral" rating for the company. Wall Street Zen upgraded Northern Trust from a "sell" rating to a "hold" rating in a report on Saturday, December 27th. Finally, The Goldman Sachs Group raised their target price on Northern Trust from $130.00 to $148.00 and gave the stock a "sell" rating in a research report on Wednesday, January 28th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $148.75.
Check Out Our Latest Analysis on Northern Trust
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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