Insider Buying: Northern Trust (NASDAQ:NTRS) Director Purchases $34,198.20 in Stock

Northern Trust Corporation (NASDAQ:NTRS) Director Robert Edward Jr. Moritz acquired 270 shares of the company’s stock in a transaction that occurred on Monday, October 27th. The stock was bought at an average price of $126.66 per share, with a total value of $34,198.20. Following the acquisition, the director directly owned 2,795 shares of the company’s stock, valued at $354,014.70. The trade was a 10.69% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Wednesday, August 13th, Robert Edward Jr. Moritz purchased 256 shares of Northern Trust stock. The stock was acquired at an average price of $126.34 per share, with a total value of $32,343.04.

Northern Trust Stock Down 0.3%

Shares of Northern Trust stock opened at $126.90 on Friday. Northern Trust Corporation has a 1 year low of $81.62 and a 1 year high of $135.48. The business has a 50-day moving average of $129.55 and a two-hundred day moving average of $119.12. The company has a market capitalization of $24.27 billion, a P/E ratio of 14.79, a price-to-earnings-growth ratio of 1.37 and a beta of 1.31. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.70 and a quick ratio of 0.72.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings results on Wednesday, October 22nd. The asset manager reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.03. Northern Trust had a return on equity of 14.37% and a net margin of 11.99%.The company had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same period in the prior year, the company earned $2.22 earnings per share. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. As a group, equities analysts predict that Northern Trust Corporation will post 8.27 EPS for the current year.

Northern Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 1st. Shareholders of record on Friday, December 5th will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Friday, December 5th. Northern Trust’s dividend payout ratio is 37.30%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. FNY Investment Advisers LLC acquired a new position in Northern Trust during the second quarter valued at approximately $25,000. Hantz Financial Services Inc. boosted its position in Northern Trust by 5,225.0% during the second quarter. Hantz Financial Services Inc. now owns 213 shares of the asset manager’s stock valued at $27,000 after purchasing an additional 209 shares during the last quarter. AlphaCore Capital LLC boosted its position in Northern Trust by 87.4% during the second quarter. AlphaCore Capital LLC now owns 208 shares of the asset manager’s stock valued at $27,000 after purchasing an additional 97 shares during the last quarter. Zions Bancorporation National Association UT acquired a new position in Northern Trust during the first quarter valued at approximately $29,000. Finally, Clearstead Trust LLC acquired a new position in Northern Trust during the second quarter valued at approximately $29,000. 83.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NTRS has been the subject of several recent analyst reports. Wolfe Research upgraded Northern Trust from an “underperform” rating to a “peer perform” rating in a report on Thursday, July 24th. Citigroup upped their price objective on Northern Trust from $110.00 to $135.00 and gave the stock a “neutral” rating in a research report on Friday, September 5th. Zacks Research cut Northern Trust from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 9th. Barclays upped their price objective 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. Finally, BMO Capital Markets initiated coverage on Northern Trust in a research report on Friday, October 3rd. They set a “market perform” rating and a $142.00 price objective for the company. Five research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $130.71.

About Northern Trust

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.