Northern Trust (NASDAQ:NTRS) Director Robert Edward Jr. Moritz Acquires 255 Shares of Stock

Key Points

• Northern Trust Director Robert Edward Jr. Moritz purchased 255 shares at an average price of $179.57, investing $45,790.35 and increasing his direct ownership by 3.13% to 8,400 shares.
• Northern Trust raised its quarterly dividend from $0.80 to $0.88 per share, equivalent to $3.52 annually and a 1.9% yield.
• NTRS shares recently traded at $182.51, while analysts’ consensus rating remained “Hold” with an average price target of $180.25; institutional investors own 83.19% of the stock.

Northern Trust Corporation (NASDAQ:NTRS - Get Free Report) Director Robert Edward Jr. Moritz purchased 255 shares of Northern Trust stock in a transaction on Wednesday, July 29th. The stock was bought at an average cost of $179.57 per share, with a total value of $45,790.35. Following the transaction, the director directly owned 8,400 shares of the company's stock, valued at approximately $1,508,388. The trade was a 3.13% 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.

Robert Edward Jr. Moritz also recently made the following trade(s):

• On Friday, May 1st, Robert Edward Jr. Moritz acquired 225 shares of Northern Trust stock. The shares were bought at an average cost of $166.41 per share, for a total transaction of $37,442.25.

Northern Trust Stock Performance

Shares of NTRS stock traded up $4.86 during trading on Thursday, reaching $182.51. The company had a trading volume of 753,987 shares, compared to its average volume of 1,103,382. The firm's 50 day simple moving average is $175.70 and its two-hundred day simple moving average is $158.75. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.65 and a quick ratio of 0.62. Northern Trust Corporation has a one year low of $121.12 and a one year high of $191.60. The company has a market capitalization of $33.77 billion, a PE ratio of 15.67, a PEG ratio of 1.02 and a beta of 1.25.

Northern Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 4th will be issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.9%. This is a boost from Northern Trust's previous quarterly dividend of $0.80. The ex-dividend date is Friday, September 4th. Northern Trust's dividend payout ratio is 27.47%.

Institutional Trading of Northern Trust

A number of hedge funds have recently modified their holdings of the company. CWM LLC raised its stake in shares of Northern Trust by 122.6% in the 4th quarter. CWM LLC now owns 48,284 shares of the asset manager's stock valued at $6,595,000 after buying an additional 26,594 shares in the last quarter. Concurrent Investment Advisors LLC acquired a new stake in shares of Northern Trust during the 4th quarter valued at about $1,959,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of Northern Trust by 1,838.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 180,034 shares of the asset manager's stock valued at $22,793,000 after acquiring an additional 170,745 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Northern Trust by 5.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,894,755 shares of the asset manager's stock valued at $395,395,000 after acquiring an additional 161,826 shares during the period. Finally, Strs Ohio increased its stake in Northern Trust by 83.0% in the fourth quarter. Strs Ohio now owns 136,403 shares of the asset manager's stock valued at $18,631,000 after acquiring an additional 61,858 shares during the period. Institutional investors own 83.19% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Zacks Research upgraded shares of Northern Trust from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 12th. 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 report on Wednesday, July 22nd. UBS Group set a $186.00 price target on Northern Trust in a research report on Friday, June 26th. The Goldman Sachs Group lifted their price objective on Northern Trust from $151.00 to $169.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 22nd. Finally, Citigroup lifted their price target on Northern Trust from $162.00 to $172.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $180.25.

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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