Northern Trust (NASDAQ:NTRS) Stock: Insider Susan Cohen Levy Sells 16,984 Shares

Key Points

• Insider selling: EVP Susan Cohen Levy sold 16,984 Northern Trust shares at an average price of $168.15, totaling approximately $2.86 million and reducing her position by 22.24%. She also sold an additional 3,922 shares the following week.
• Strong quarterly results: Northern Trust reported quarterly earnings of $3.40 per share, beating estimates of $2.87, while revenue rose 13.4% year over year to $2.29 billion.
• Dividend and analyst view: The company declared a quarterly dividend of $0.88, implying a 2.1% annual 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 16,984 shares of Northern Trust stock in a transaction that occurred on Friday, October 23rd. The stock was sold at an average price of $168.15, for a total value of $2,855,859.60. Following the transaction, the executive vice president owned 59,378 shares in the company, valued at approximately $9,984,410.70. The trade was a 22.24% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Susan Cohen Levy also recently made the following trade(s):

• On Monday, October 26th, Susan Levy sold 3,922 shares of Northern Trust stock. The stock was sold at an average price of $168.69, for a total value of $661,602.18.

Northern Trust Trading Up 0.5%

NASDAQ:NTRS traded up $0.80 during trading hours on Tuesday, hitting $170.35. The company had a trading volume of 984,256 shares, compared to its average volume of 1,103,491. The company has a current ratio of 0.61, a quick ratio of 0.65 and a debt-to-equity ratio of 0.43. The company has a 50-day moving average of $177.27 and a 200 day moving average of $164.63. The company has a market cap of $31.17 billion, a P/E ratio of 13.35, a P/E/G ratio of 0.93 and a beta of 1.24. Northern Trust Corporation has a 1 year low of $121.53 and a 1 year high of $195.78.

Northern Trust (NASDAQ:NTRS - Get Free Report) last issued its earnings results on Wednesday, October 21st. The asset manager reported $3.40 earnings per share (EPS) for the quarter, topping 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 business had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same period last year, the company earned $2.29 EPS. The company's revenue for the quarter was up 13.4% on a year-over-year basis. Sell-side analysts expect that Northern Trust Corporation will post 11.95 earnings per share for the current year.

Northern Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 1st. Stockholders of record on Friday, December 4th will be paid a $0.88 dividend. The ex-dividend date of this dividend is Friday, December 4th. This represents a $3.52 annualized dividend and a dividend yield of 2.1%. Northern Trust's dividend payout ratio is 27.59%.

Wall Street Analyst Weigh In

NTRS has been the topic of several analyst reports. Morgan Stanley lifted their price target on shares of Northern Trust from $173.00 to $177.00 and gave the company an "underweight" rating in a research report on Thursday, October 22nd. Royal Bank Of Canada downgraded Northern Trust from an "outperform" rating to a "sector perform" rating and set a $178.00 target price on the stock. in a research report on Wednesday, July 22nd. BMO Capital Markets decreased their price target on Northern Trust from $208.00 to $190.00 and set an "outperform" rating on the stock in a research note on Tuesday, October 6th. Keefe, Bruyette & Woods increased their price target on Northern Trust from $157.00 to $175.00 and gave the stock an "underperform" rating in a report on Thursday, July 9th. Finally, Barclays raised 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. Three analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $183.47.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. purchased a new stake in Northern Trust during the second quarter worth about $2,523,781,000. Primecap Management Co. CA acquired a new stake in shares of Northern Trust during the second quarter worth about $1,060,553,000. Bank of New York Mellon Corp purchased a new position in shares of Northern Trust in the second quarter valued at approximately $361,079,000. Legal & General Group Plc purchased a new position in shares of Northern Trust in the second quarter valued at approximately $207,054,000. Finally, Man Group plc acquired a new position in shares of Northern Trust in the second quarter valued at approximately $147,718,000. 83.19% of the stock is currently owned by hedge funds and other institutional investors.

Northern Trust Company Profile

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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