Northern Trust (NASDAQ:NTRS) Insider John Landers Sells 766 Shares

Northern Trust Corporation (NASDAQ:NTRS) insider John Landers sold 766 shares of the firm’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $124.35, for a total transaction of $95,252.10. Following the sale, the insider owned 7,313 shares in the company, valued at approximately $909,371.55. This represents a 9.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Northern Trust Trading Up 1.7%

NTRS stock opened at $124.78 on Wednesday. Northern Trust Corporation has a 52-week low of $81.62 and a 52-week high of $135.48. The company has a quick ratio of 0.72, a current ratio of 0.70 and a debt-to-equity ratio of 0.58. The firm has a market cap of $23.60 billion, a P/E ratio of 14.54, a PEG ratio of 1.37 and a beta of 1.32. The company’s 50-day simple moving average is $129.08 and its 200-day simple moving average is $122.91.

Northern Trust (NASDAQ:NTRS) last announced its earnings results on Wednesday, October 22nd. The asset manager reported $2.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.03. The firm had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.02 billion. Northern Trust had a return on equity of 14.37% and a net margin of 11.99%.The business’s revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.22 EPS. As a group, equities analysts forecast that Northern Trust Corporation will post 8.27 EPS for the current fiscal year.

Northern Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 1st. Shareholders of record on Friday, December 5th will be issued a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.6%. Northern Trust’s dividend payout ratio is presently 37.30%.

Hedge Funds Weigh In On Northern Trust

A number of institutional investors have recently bought and sold shares of NTRS. Twin Capital Management Inc. increased its holdings in shares of Northern Trust by 653.8% during the 1st quarter. Twin Capital Management Inc. now owns 19,977 shares of the asset manager’s stock worth $1,971,000 after buying an additional 17,327 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its position in Northern Trust by 2.3% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 15,293 shares of the asset manager’s stock worth $1,509,000 after acquiring an additional 337 shares during the period. Wealth Alliance LLC acquired a new stake in Northern Trust during the first quarter worth $429,000. Allianz Asset Management GmbH increased its stake in Northern Trust by 529.4% during the first quarter. Allianz Asset Management GmbH now owns 461,383 shares of the asset manager’s stock worth $45,515,000 after acquiring an additional 388,081 shares during the last quarter. Finally, Horizon Investment Services LLC raised its position in Northern Trust by 260.5% in the first quarter. Horizon Investment Services LLC now owns 35,101 shares of the asset manager’s stock valued at $3,463,000 after purchasing an additional 25,363 shares during the period. 83.19% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on NTRS. Barclays boosted their price target on Northern Trust from $128.00 to $136.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 24th. Zacks Research lowered shares of Northern Trust from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 9th. Keefe, Bruyette & Woods raised their price target on shares of Northern Trust from $123.00 to $125.00 and gave the stock an “underperform” rating in a research note on Thursday, October 23rd. Truist Financial lowered their price target on shares of Northern Trust from $142.00 to $139.00 and set a “hold” rating on the stock in a research report on Thursday, October 23rd. Finally, Morgan Stanley upped their price objective on shares of Northern Trust from $110.00 to $131.00 and gave the company an “underweight” rating in a research note on Monday, September 29th. Five equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Northern Trust has an average rating of “Hold” and an average price target of $132.46.

Northern Trust Company Profile

Northern Trust Corporation, a financial holding company, provides wealth management, asset servicing, asset management, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates in two segments, Asset Servicing and Wealth Management. The Asset Servicing segment offers asset servicing and related services, including custody, fund administration, investment operations outsourcing, investment management, investment risk and analytical services, employee benefit services, securities lending, foreign exchange, treasury management, brokerage services, transition management services, banking, and cash management services.