Northern Trust Corporation (NASDAQ:NTRS - Get Free Report) CFO David Fox, Jr. sold 19,987 shares of the stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $166.16, for a total transaction of $3,321,039.92. Following the completion of the sale, the chief financial officer directly owned 18,588 shares of the company's stock, valued at $3,088,582.08. This trade represents a 51.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Northern Trust Price Performance
NASDAQ NTRS opened at $164.83 on Thursday. The company has a 50 day simple moving average of $146.81 and a 200-day simple moving average of $140.66. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.62 and a quick ratio of 0.69. The firm has a market capitalization of $30.55 billion, a price-to-earnings ratio of 17.26, a price-to-earnings-growth ratio of 1.21 and a beta of 1.23. Northern Trust Corporation has a 52-week low of $91.74 and a 52-week high of $173.18.
Northern Trust (NASDAQ:NTRS - Get Free Report) last posted its quarterly earnings results on Tuesday, April 21st. The asset manager reported $2.71 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.37 by $0.34. The business had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.13 billion. Northern Trust had a net margin of 12.84% and a return on equity of 15.94%. The firm's revenue was up 13.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.90 earnings per share. Equities research analysts predict that Northern Trust Corporation will post 10.58 earnings per share for the current fiscal year.
Northern Trust Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 5th will be given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, June 5th. Northern Trust's dividend payout ratio is 33.51%.
Hedge Funds Weigh In On Northern Trust
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Triumph Capital Management bought a new position in Northern Trust during the third quarter valued at approximately $25,000. Reflection Asset Management bought a new position in shares of Northern Trust in the fourth quarter valued at approximately $25,000. Board of the Pension Protection Fund bought a new position in shares of Northern Trust in the fourth quarter valued at approximately $27,000. Elyxium Wealth LLC bought a new position in shares of Northern Trust in the fourth quarter valued at approximately $34,000. Finally, International Assets Investment Management LLC bought a new position in shares of Northern Trust in the fourth quarter valued at approximately $35,000. Institutional investors own 83.19% of the company's stock.
Analyst Ratings Changes
NTRS has been the subject of a number of research analyst reports. The Goldman Sachs Group increased their price target on shares of Northern Trust from $151.00 to $169.00 and gave the stock a "neutral" rating in a research report on Wednesday, April 22nd. Citigroup initiated coverage on shares of Northern Trust in a research report on Monday, February 23rd. They issued a "neutral" rating for the company. BMO Capital Markets raised shares of Northern Trust from a "market perform" rating to an "outperform" rating and set a $168.00 price objective on the stock in a research report on Monday, April 6th. Evercore raised their price objective on shares of Northern Trust from $142.00 to $155.00 and gave the company an "in-line" rating in a research report on Friday, January 23rd. Finally, Wells Fargo & Company raised their price objective on shares of Northern Trust from $150.00 to $175.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 22nd. Four analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $163.55.
Check Out Our Latest Research Report on Northern Trust
About Northern Trust
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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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