Insider Buying: Northern Trust (NASDAQ:NTRS) Director Purchases 225 Shares of Stock

Northern Trust Corporation (NASDAQ:NTRS) Director Robert Edward Jr. Moritz acquired 225 shares of the business’s stock in a transaction dated Friday, May 1st. The shares were bought at an average price of $166.41 per share, for a total transaction of $37,442.25. Following the acquisition, the director owned 8,145 shares of the company’s stock, valued at approximately $1,355,409.45. This represents a 2.84% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Northern Trust Stock Down 2.0%

Shares of NTRS traded down $3.24 during mid-day trading on Monday, hitting $161.24. 719,389 shares of the company traded hands, compared to its average volume of 1,120,511. Northern Trust Corporation has a 1-year low of $96.28 and a 1-year high of $173.18. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $29.88 billion, a PE ratio of 16.88, a price-to-earnings-growth ratio of 1.18 and a beta of 1.27. The business has a 50 day moving average of $147.24 and a 200 day moving average of $141.02.

Northern Trust (NASDAQ:NTRS) last issued its earnings results on Tuesday, April 21st. The asset manager reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.37 by $0.34. The firm had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.13 billion. Northern Trust had a return on equity of 15.94% and a net margin of 12.84%.Northern Trust’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.90 earnings per share. Equities research analysts anticipate that Northern Trust Corporation will post 10.63 EPS for the current year.

Northern Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Friday, June 5th will be given a $0.80 dividend. The ex-dividend date is Friday, June 5th. This represents a $3.20 dividend on an annualized basis and a yield of 2.0%. Northern Trust’s dividend payout ratio is currently 33.51%.

Institutional Investors Weigh In On Northern Trust

Several hedge funds have recently bought and sold shares of the stock. Triumph Capital Management purchased a new position in shares of Northern Trust during the 3rd quarter valued at approximately $25,000. Reflection Asset Management purchased a new position in shares of Northern Trust during the 4th quarter valued at approximately $25,000. Board of the Pension Protection Fund purchased a new position in shares of Northern Trust during the 4th quarter valued at approximately $27,000. Elyxium Wealth LLC purchased a new position in shares of Northern Trust during the 4th quarter valued at approximately $34,000. Finally, International Assets Investment Management LLC purchased a new position in shares of Northern Trust during the 4th quarter valued at approximately $35,000. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on NTRS. Truist Financial upped their target price on Northern Trust from $155.00 to $176.00 and gave the company a “hold” rating in a research report on Wednesday, April 22nd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Northern Trust in a research report on Thursday, January 22nd. TD Cowen upped their target price on Northern Trust from $165.00 to $175.00 and gave the company a “buy” rating in a research report on Monday, January 26th. Citigroup began coverage on Northern Trust in a research report on Monday, February 23rd. They issued a “neutral” rating on the stock. Finally, The Goldman Sachs Group upped their target price on Northern Trust from $151.00 to $169.00 and gave the company a “neutral” rating in a research report on Wednesday, April 22nd. Four equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $163.55.

Northern Trust Company Profile

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.