Key Points
- Insider sale: EVP Susan Levy sold 3,922 Northern Trust shares for approximately $661,602 at an average price of $168.69, reducing her stake by 6.2%. She had also sold 16,984 shares the previous week.
- Strong quarterly results: Northern Trust reported quarterly EPS of $3.40, beating estimates by $0.53, while revenue reached $2.29 billion and increased 13.4% year over year.
- Dividend and analyst outlook: The company declared a quarterly dividend of $0.88 per share, representing a 2.1% yield. Analysts maintain a consensus “Hold” rating with an average price target of $183.47.
Northern Trust Corporation (NASDAQ:NTRS - Get Free Report) EVP Susan Levy sold 3,922 shares of the stock in a transaction on Monday, October 26th. The stock was sold at an average price of $168.69, for a total transaction of $661,602.18. Following the sale, the executive vice president owned 59,378 shares of the company's stock, valued at approximately $10,016,474.82. This represents a 6.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Susan Cohen Levy also recently made the following trade(s):
- On Friday, October 23rd, Susan Levy sold 16,984 shares of Northern Trust stock. The stock was sold at an average price of $168.15, for a total transaction of $2,855,859.60.
Northern Trust Stock Performance
NASDAQ NTRS opened at $170.35 on Wednesday. The firm has a market cap of $31.17 billion, a PE ratio of 13.35 and a beta of 1.24. Northern Trust Corporation has a one year low of $121.53 and a one year high of $195.78. The firm's fifty day moving average is $176.41 and its two-hundred day moving average is $164.90.
Northern Trust (NASDAQ:NTRS - Get Free Report) last announced its earnings results on Wednesday, October 21st. The asset manager reported $3.40 EPS for the quarter, beating analysts' consensus estimates of $2.87 by $0.53. The business had revenue of $2.29 billion during the quarter, compared to analysts' expectations of $2.26 billion. During the same period in the previous year, the company posted $2.29 earnings per share. Northern Trust's quarterly revenue was up 13.4% on a year-over-year basis. Research analysts predict that Northern Trust Corporation will post 11.95 earnings per share for the current year.
Northern Trust Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, January 1st. Investors of record on Friday, December 4th will be issued a dividend of $0.88 per share. The ex-dividend date of this dividend is Friday, December 4th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.1%. Northern Trust's dividend payout ratio (DPR) is currently 27.59%.
Analyst Upgrades and Downgrades
NTRS has been the subject of several analyst reports. Bank of America upped their price objective on Northern Trust from $190.00 to $200.00 and gave the company a "buy" rating in a research note on Tuesday, July 7th. Barclays increased their price objective on Northern Trust from $189.00 to $194.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 22nd. Weiss Ratings downgraded Northern Trust from a "buy (b+)" rating to a "buy (b)" rating in a research note on Friday. Morgan Stanley boosted their target price on Northern Trust from $173.00 to $177.00 and gave the company an "underweight" rating in a report on Thursday, October 22nd. Finally, Keefe, Bruyette & Woods boosted their target price on Northern Trust from $157.00 to $175.00 and gave the company an "underperform" rating in a report on Thursday, July 9th. Three research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $183.47.
Read Our Latest Stock Analysis on NTRS
Institutional Trading of Northern Trust
Hedge funds have recently made changes to their positions in the company. V Square Quantitative Management LLC boosted its holdings in shares of Northern Trust by 1.3% in the first quarter. V Square Quantitative Management LLC now owns 4,793 shares of the asset manager's stock valued at $669,000 after acquiring an additional 61 shares in the last quarter. Versant Capital Management Inc increased its stake in shares of Northern Trust by 2.1% during the third quarter. Versant Capital Management Inc now owns 3,379 shares of the asset manager's stock worth $572,000 after acquiring an additional 70 shares during the period. Greenleaf Trust increased its stake in shares of Northern Trust by 0.6% during the second quarter. Greenleaf Trust now owns 12,575 shares of the asset manager's stock worth $2,186,000 after acquiring an additional 71 shares during the period. CWS Financial Advisors LLC raised its holdings in Northern Trust by 2.0% during the first quarter. CWS Financial Advisors LLC now owns 3,997 shares of the asset manager's stock worth $558,000 after purchasing an additional 77 shares in the last quarter. Finally, SJS Investment Consulting Inc. raised its holdings in Northern Trust by 16.5% during the first quarter. SJS Investment Consulting Inc. now owns 559 shares of the asset manager's stock worth $78,000 after purchasing an additional 79 shares in the last quarter. Institutional investors and hedge funds own 83.19% of the company's stock.
About Northern Trust
(
Get Free Report)
Northern Trust Corporation (NASDAQ:NTRS) is a financial services company that provides wealth management, asset servicing, asset management and banking services. The company serves institutional investors, corporations, financial institutions, high-net-worth individuals and families.
Its offerings include custody and administration of investment assets, fund accounting, securities lending, foreign exchange, treasury services, investment management, trust and estate services, private banking and wealth planning.
Further Reading
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