Northern Trust (NASDAQ:NTRS) EVP Thomas South Sells 1,800 Shares of Stock

Key Points

• Northern Trust EVP Thomas South sold 1,800 shares at an average price of $184.90, generating $332,820 and reducing his direct stake by 1.9% to 92,917 shares.
• Northern Trust reported strong quarterly results, with EPS of $4.23 versus the $2.71 consensus and revenue of $2.71 billion, up 35.1% year over year.
• The company raised its quarterly dividend from $0.80 to $0.88 per share, implying an annualized dividend of $3.52 and a 1.9% yield; analysts maintain a consensus “Hold” rating with a $180.68 target price.

Northern Trust Corporation (NASDAQ:NTRS - Get Free Report) EVP Thomas South sold 1,800 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $184.90, for a total transaction of $332,820.00. Following the transaction, the executive vice president directly owned 92,917 shares of the company's stock, valued at $17,180,353.30. The trade was a 1.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Northern Trust Trading Up 0.1%

NASDAQ NTRS traded up $0.16 on Tuesday, reaching $186.82. The stock had a trading volume of 1,026,733 shares, compared to its average volume of 1,100,114. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.43. The stock has a fifty day moving average price of $181.79 and a two-hundred day moving average price of $163.61. Northern Trust Corporation has a 12-month low of $121.12 and a 12-month high of $195.78. The firm has a market capitalization of $34.18 billion, a price-to-earnings ratio of 16.04, a P/E/G ratio of 1.04 and a beta of 1.25.

Northern Trust (NASDAQ:NTRS - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The asset manager reported $4.23 EPS for the quarter, topping the consensus estimate of $2.71 by $1.52. Northern Trust had a return on equity of 16.91% and a net margin of 14.76%.The business had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.69 billion. During the same period last year, the business posted $2.13 earnings per share. The company's quarterly revenue was up 35.1% on a year-over-year basis. As a group, sell-side analysts forecast that Northern Trust Corporation will post 11.59 EPS for the current fiscal year.

Northern Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 4th will be issued a dividend of $0.88 per share. This is a positive change from Northern Trust's previous quarterly dividend of $0.80. The ex-dividend date is Friday, September 4th. This represents a $3.52 dividend on an annualized basis and a yield of 1.9%. Northern Trust's dividend payout ratio (DPR) is 27.47%.

Analyst Ratings Changes

Several brokerages have recently issued reports on NTRS. Wells Fargo & Company increased their price target on shares of Northern Trust from $189.00 to $194.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 23rd. UBS Group set a $186.00 target price on shares of Northern Trust in a research note on Friday, June 26th. Citigroup increased their target price 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. Royal Bank Of Canada cut 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 research report on Wednesday, July 22nd. Finally, Keefe, Bruyette & Woods upped their price objective on Northern Trust from $157.00 to $175.00 and gave the stock an "underperform" rating in a research report on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $180.68.

Hedge Funds Weigh In On Northern Trust

A number of institutional investors and hedge funds have recently modified their holdings of NTRS. Reflection Asset Management acquired a new stake in Northern Trust in the fourth quarter valued at $25,000. Triumph Capital Management purchased a new position in shares of Northern Trust in the 3rd quarter valued at about $25,000. Continuum Advisory LLC acquired a new stake in shares of Northern Trust during the 2nd quarter worth about $26,000. Basecamp Wealth Advisors LLC raised its position in shares of Northern Trust by 99.0% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 203 shares of the asset manager's stock worth $28,000 after acquiring an additional 101 shares in the last quarter. Finally, NBH Bank purchased a new stake in Northern Trust during the second quarter worth approximately $30,000. Institutional investors and hedge funds own 83.19% of the company's stock.

About Northern Trust

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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