Insider Selling: Northern Trust (NASDAQ:NTRS) EVP Sells $661,602.18 in Stock

Northern Trust Corporation (NASDAQ:NTRS) EVP Susan Levy sold 3,922 shares of the business’s stock in a transaction on Monday, October 26th. The stock was sold at an average price of $168.69, for a total value of $661,602.18. Following the completion of the transaction, the executive vice president owned 59,378 shares of the company’s stock, valued at $10,016,474.82. This represents a 6.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Friday, October 23rd, Susan Levy sold 16,984 shares of Northern Trust stock. The shares were sold at an average price of $168.15, for a total value of $2,855,859.60.

Northern Trust Trading Up 0.6%

Northern Trust stock opened at $172.92 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.61 and a quick ratio of 0.65. Northern Trust Corporation has a one year low of $121.53 and a one year high of $195.78. The stock has a market capitalization of $31.64 billion, a PE ratio of 14.86, a price-to-earnings-growth ratio of 0.88 and a beta of 1.24. The business’s fifty day moving average is $175.79 and its 200 day moving average is $165.17.

Northern Trust (NASDAQ:NTRS) last issued its earnings results on Wednesday, October 21st. The asset manager reported $3.40 earnings per share for the quarter, topping analysts’ consensus estimates of $2.87 by $0.53. The business had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.26 billion. Northern Trust had a return on equity of 17.97% and a net margin of 15.86%. Northern Trust’s revenue was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.29 EPS. On average, sell-side analysts predict that Northern Trust Corporation will post 11.95 EPS for the current year.

Northern Trust Announces Dividend

The business 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 is Friday, December 4th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.0%. Northern Trust’s payout ratio is currently 27.59%.

Analyst Ratings Changes

Several research firms have recently weighed in on NTRS. TD Cowen started coverage on shares of Northern Trust in a report on Thursday, October 8th. They set a “hold” rating and a $175.00 price objective for the company. BMO Capital Markets dropped their target price on shares of Northern Trust from $208.00 to $190.00 and set an “outperform” rating on the stock in a report on Tuesday, October 6th. Zacks Research downgraded shares of Northern Trust from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 25th. Evercore set a $183.00 target price on shares of Northern Trust in a research note on Thursday, October 1st. Finally, Barclays increased their price target on Northern Trust from $189.00 to $194.00 and gave the company an “equal weight” rating in a report on Thursday, October 22nd. Three research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $183.47.

Institutional Investors Weigh In On Northern Trust

Several hedge funds and other institutional investors have recently made changes to their positions in the business. HWG Holdings LP bought a new stake in Northern Trust during the third quarter valued at approximately $4,470,000. Renaissance Technologies LLC purchased a new stake in Northern Trust during the first quarter valued at approximately $2,303,000. Oppenheimer Asset Management Inc. bought a new position in Northern Trust in the second quarter worth approximately $25,721,000. Bank of America Corp DE raised its position in Northern Trust by 5.6% in the first quarter. Bank of America Corp DE now owns 622,852 shares of the asset manager’s stock worth $86,931,000 after acquiring an additional 33,029 shares during the period. Finally, Nykredit A S purchased a new position in shares of Northern Trust during the 2nd quarter worth $11,432,000. Hedge funds and other institutional investors own 83.19% of the company’s stock.

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.