Northern Trust Corporation (NASDAQ:NTRS - Get Free Report) EVP Thomas South sold 1,800 shares of Northern Trust stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $184.90, for a total transaction of $332,820.00. Following the completion of the transaction, the executive vice president directly owned 92,917 shares of the company's stock, valued at $17,180,353.30. This trade represents a 1.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Northern Trust Price Performance
Shares of NASDAQ:NTRS opened at $186.82 on Wednesday. The company has a market cap of $34.18 billion, a PE ratio of 16.04, a P/E/G ratio of 1.05 and a beta of 1.25. Northern Trust Corporation has a fifty-two week low of $121.12 and a fifty-two week high of $195.78. The firm has a 50-day simple moving average of $182.03 and a 200 day simple moving average of $163.87. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.43.
Northern Trust (NASDAQ:NTRS - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The asset manager reported $4.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.71 by $1.52. Northern Trust had a net margin of 14.76% and a return on equity of 16.91%. The firm had revenue of $2.71 billion for the quarter, compared to analysts' expectations of $2.69 billion. During the same quarter last year, the company posted $2.13 earnings per share. Northern Trust's revenue was up 35.1% on a year-over-year basis. On average, sell-side analysts anticipate that Northern Trust Corporation will post 11.59 EPS for the current year.
Northern Trust Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 4th will be issued a $0.88 dividend. This is a positive change from Northern Trust's previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Friday, September 4th. This represents a $3.52 annualized dividend and a dividend yield of 1.9%. Northern Trust's dividend payout ratio (DPR) is 27.47%.
Analyst Ratings Changes
A number of research analysts recently commented on the company. Evercore set a $179.00 price objective on Northern Trust in a research note on Monday, July 6th. UBS Group set a $186.00 target price on Northern Trust in a research note on Friday, June 26th. Royal Bank Of Canada downgraded shares of Northern Trust from an "outperform" rating to a "sector perform" rating and set a $178.00 price target for the company. in a report on Wednesday, July 22nd. JPMorgan Chase & Co. upped their price target on shares of Northern Trust from $179.50 to $185.50 and gave the stock a "neutral" rating in a research report on Tuesday, August 4th. Finally, Citigroup increased their price objective on shares of Northern Trust from $162.00 to $172.00 and gave the stock a "neutral" rating in a report on Tuesday, June 30th. 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 assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $180.68.
Check Out Our Latest Research Report on NTRS
Hedge Funds Weigh In On Northern Trust
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Concurrent Investment Advisors LLC acquired a new position in Northern Trust during the 4th quarter worth $1,959,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Northern Trust by 1,838.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 180,034 shares of the asset manager's stock valued at $22,793,000 after purchasing an additional 170,745 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Northern Trust by 5.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,894,755 shares of the asset manager's stock valued at $395,395,000 after purchasing an additional 161,826 shares during the period. PFA Pension Forsikringsaktieselskab bought a new stake in shares of Northern Trust during the fourth quarter valued at about $67,126,000. Finally, Strs Ohio raised its stake in shares of Northern Trust by 83.0% during the fourth quarter. Strs Ohio now owns 136,403 shares of the asset manager's stock valued at $18,631,000 after purchasing an additional 61,858 shares in the last quarter. 83.19% of the stock is owned by institutional investors.
Northern Trust Company Profile
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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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