Insider Selling: Northern Trust (NASDAQ:NTRS) EVP Sells 27,591 Shares of Stock

Northern Trust Corporation (NASDAQ:NTRS) EVP Susan Cohen Levy sold 27,591 shares of the company’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $128.13, for a total transaction of $3,535,234.83. Following the sale, the executive vice president directly owned 48,257 shares in the company, valued at $6,183,169.41. This trade represents a 36.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Northern Trust Price Performance

NASDAQ:NTRS traded up $0.65 during trading hours on Wednesday, hitting $128.19. The stock had a trading volume of 827,468 shares, compared to its average volume of 1,470,247. The company has a 50 day simple moving average of $129.38 and a two-hundred day simple moving average of $120.38. The firm has a market capitalization of $24.51 billion, a price-to-earnings ratio of 14.94, a P/E/G 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 Corporation has a one year low of $81.62 and a one year high of $135.48.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings data on Wednesday, October 22nd. The asset manager reported $2.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.03. The company had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.02 billion. Northern Trust had a return on equity of 14.37% and a net margin of 11.99%.The firm’s revenue was up 2.8% compared to the same quarter last year. During the same quarter last year, the business posted $2.22 earnings per share. Research analysts forecast that Northern Trust Corporation will post 8.27 earnings per share for the current fiscal year.

Northern Trust Announces Dividend

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. FNY Investment Advisers LLC purchased a new stake in Northern Trust during the 2nd quarter valued at $25,000. Hantz Financial Services Inc. boosted its holdings in shares of Northern Trust by 5,225.0% in the second quarter. Hantz Financial Services Inc. now owns 213 shares of the asset manager’s stock worth $27,000 after buying an additional 209 shares during the last quarter. AlphaCore Capital LLC grew 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 buying an additional 97 shares during the period. Zions Bancorporation National Association UT purchased a new stake in Northern Trust during the first quarter valued at approximately $29,000. Finally, Clearstead Trust LLC purchased a new position in shares of Northern Trust during the 2nd quarter worth $29,000. Institutional investors own 83.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. BMO Capital Markets initiated coverage on shares of Northern Trust in a research note on Friday, October 3rd. They issued a “market perform” rating and a $142.00 price objective for the company. Citigroup boosted their price target on shares of Northern Trust from $110.00 to $135.00 and gave the stock a “neutral” rating in a research note on Friday, September 5th. Barclays raised their price objective on Northern Trust from $128.00 to $136.00 and gave the company an “equal weight” rating in a research note on Thursday, July 24th. Wolfe Research raised Northern Trust from an “underperform” rating to a “peer perform” rating in a research note on Thursday, July 24th. Finally, The Goldman Sachs Group set a $135.00 price target on Northern Trust in a research report on Tuesday, September 30th. Five analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, 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.