Key Points
- Director Robert Edward Jr. Moritz bought 255 Northern Trust shares at an average price of $179.57, investing $45,790.35 and increasing his direct ownership by 3.13% to 8,400 shares.
- Northern Trust raised its quarterly dividend to $0.88 per share from $0.80, implying an annualized dividend of $3.52 and a 1.9% yield.
- NTRS shares opened at $182.51, near their 12-month high of $191.60, while analysts maintained an overall “Hold” rating with an average price target of $180.25; institutional investors own 83.19% of the stock.
Northern Trust Corporation (NASDAQ:NTRS - Get Free Report) Director Robert Edward Jr. Moritz bought 255 shares of the stock in a transaction dated Wednesday, July 29th. The shares were bought at an average cost of $179.57 per share, with a total value of $45,790.35. Following the completion of the acquisition, the director directly owned 8,400 shares of the company's stock, valued at approximately $1,508,388. The trade was a 3.13% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Robert Edward Jr. Moritz also recently made the following trade(s):
- On Friday, May 1st, Robert Edward Jr. Moritz purchased 225 shares of Northern Trust stock. The stock was bought at an average cost of $166.41 per share, for a total transaction of $37,442.25.
Northern Trust Price Performance
Shares of NTRS opened at $182.51 on Friday. Northern Trust Corporation has a 12 month low of $121.12 and a 12 month high of $191.60. The company has a market cap of $33.77 billion, a P/E ratio of 15.67, a PEG ratio of 1.00 and a beta of 1.25. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.65 and a quick ratio of 0.62. The stock has a fifty day moving average price of $176.01 and a 200 day moving average price of $159.01.
Northern Trust Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 4th will be given a $0.88 dividend. This is a positive change from Northern Trust's previous quarterly dividend of $0.80. The ex-dividend date is Friday, September 4th. This represents a $3.52 annualized dividend and a yield of 1.9%. Northern Trust's payout ratio is currently 30.21%.
Institutional Investors Weigh In On Northern Trust
Hedge funds and other institutional investors have recently bought and sold shares of the business. Reflection Asset Management acquired a new stake in Northern Trust during the fourth quarter valued at approximately $25,000. Triumph Capital Management acquired a new position in shares of Northern Trust in the 3rd quarter worth $25,000. Basecamp Wealth Advisors LLC raised its position in shares of Northern Trust by 99.0% during the first quarter. Basecamp Wealth Advisors LLC now owns 203 shares of the asset manager's stock worth $28,000 after purchasing an additional 101 shares during the period. Elyxium Wealth LLC purchased a new stake in shares of Northern Trust during the fourth quarter valued at $34,000. Finally, International Assets Investment Management LLC acquired a new position in shares of Northern Trust in the 4th quarter valued at $35,000. 83.19% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts recently issued reports on NTRS shares. Weiss Ratings raised Northern Trust from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, May 4th. The Goldman Sachs Group increased their price target on Northern Trust from $151.00 to $169.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 22nd. Royal Bank Of Canada cut shares of Northern Trust from an "outperform" rating to a "sector perform" rating and set a $178.00 price objective on the stock. in a research note on Wednesday, July 22nd. JPMorgan Chase & Co. upped their price objective on shares of Northern Trust from $170.00 to $179.50 and gave the stock a "neutral" rating in a report on Monday, July 6th. Finally, Truist Financial raised their target price on shares of Northern Trust from $176.00 to $186.00 and gave the company a "hold" rating in a research note on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, Northern Trust presently has an average rating of "Hold" and an average price target of $180.25.
Get Our Latest Stock 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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