Northern Trust (NASDAQ:NTRS) Director Buys $39,900.52 in Stock

Key Points

• Northern Trust Director Robert Moritz, Jr. purchased 236 shares at an average price of $169.07, investing $39,900.52 and increasing his direct ownership by 2.81% to 8,636 shares.
• Northern Trust exceeded quarterly expectations, reporting $3.40 in EPS versus the $2.87 consensus estimate and $2.30 billion in revenue, up 13.4% year over year.
• The company announced a quarterly dividend of $0.88 per share, equal to an annualized $3.52 and a 2.1% yield; analysts’ overall rating remains “Hold,” with an average price target of $181.03.

Northern Trust Corporation (NASDAQ:NTRS - Get Free Report) Director Robert Moritz, Jr. bought 236 shares of the business's stock in a transaction on Friday, October 30th. The shares were acquired at an average cost of $169.07 per share, for a total transaction of $39,900.52. Following the purchase, the director directly owned 8,636 shares in the company, valued at $1,460,088.52. This represents a 2.81% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.

Northern Trust Stock Performance

NTRS stock traded up $1.50 during trading on Monday, reaching $170.66. 1,294,008 shares of the company's stock were exchanged, compared to its average volume of 1,103,804. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 0.43. Northern Trust Corporation has a 1-year low of $121.53 and a 1-year high of $195.78. The company's fifty day moving average price is $175.52 and its 200-day moving average price is $165.29. The firm has a market cap of $30.91 billion, a PE ratio of 13.37, a P/E/G ratio of 0.87 and a beta of 1.21.

Northern Trust (NASDAQ:NTRS - Get Free Report) last issued its quarterly 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. Northern Trust had a return on equity of 17.97% and a net margin of 15.86%. The company had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same period last year, the company earned $2.29 earnings per share. The company's quarterly revenue was up 13.4% compared to the same quarter last year. On average, research analysts expect that Northern Trust Corporation will post 11.95 EPS for the current fiscal year.

Northern Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 1st. Investors of record on Friday, December 4th will be given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Friday, December 4th. Northern Trust's dividend payout ratio is currently 27.59%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Continuum Advisory LLC acquired a new position in shares of Northern Trust in the 2nd quarter worth $26,000. 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. NBH Bank purchased a new stake in shares of Northern Trust during the second quarter valued at $30,000. Keating Financial Advisory Services Inc. purchased a new stake in shares of Northern Trust during the second quarter valued at $31,000. Finally, Clearstead Trust LLC acquired a new position in shares of Northern Trust in the 2nd quarter valued at $37,000. Institutional investors own 83.19% of the company's stock.

Analysts Set New Price Targets

NTRS has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their price target on shares of Northern Trust from $185.00 to $191.50 and gave the stock a "neutral" rating in a research note on Friday. Citigroup decreased their price objective on shares of Northern Trust from $186.00 to $170.00 and set a "neutral" rating for the company in a report on Friday, October 23rd. Royal Bank Of Canada lowered shares of Northern Trust from an "outperform" rating to a "sector perform" rating and raised their price objective for the company from $159.00 to $178.00 in a research note on Wednesday, July 22nd. Barclays boosted their target price on Northern Trust from $189.00 to $194.00 and gave the stock an "equal weight" rating in a report on Thursday, October 22nd. Finally, BMO Capital Markets cut their target price on Northern Trust from $208.00 to $190.00 and set an "outperform" rating for the company in a research report on Tuesday, October 6th. Two investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $181.03.

About Northern Trust

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.

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