Northern Trust (NASDAQ:NTRS) Director Robert Edward Jr. Moritz Buys 225 Shares of Stock

Northern Trust Corporation (NASDAQ:NTRS) Director Robert Edward Jr. Moritz bought 225 shares of the stock in a transaction on Friday, May 1st. The stock was purchased at an average cost of $166.41 per share, for a total transaction of $37,442.25. Following the acquisition, the director owned 8,145 shares of the company’s stock, valued at $1,355,409.45. This trade represents a 2.84% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Northern Trust Stock Down 2.0%

NTRS stock opened at $161.24 on Tuesday. Northern Trust Corporation has a fifty-two week low of $96.28 and a fifty-two week high of $173.18. The business’s 50-day moving average is $147.24 and its two-hundred day moving average is $141.02. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.62 and a current ratio of 0.62. The company has a market cap of $29.88 billion, a price-to-earnings ratio of 16.88, a P/E/G ratio of 1.18 and a beta of 1.27.

Northern Trust (NASDAQ:NTRS) last posted its earnings results on Tuesday, April 21st. The asset manager reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.37 by $0.34. Northern Trust had a return on equity of 15.94% and a net margin of 12.84%.The company had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the prior year, the company earned $1.90 earnings per share. Northern Trust’s revenue was up 13.8% on a year-over-year basis. As a group, analysts forecast that Northern Trust Corporation will post 10.63 earnings per share for the current year.

Northern Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Friday, June 5th will be issued a $0.80 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $3.20 dividend on an annualized basis and a yield of 2.0%. Northern Trust’s dividend payout ratio is currently 33.51%.

Analyst Ratings Changes

NTRS has been the topic of a number of recent research reports. Citigroup initiated coverage on Northern Trust in a report on Monday, February 23rd. They issued a “neutral” rating on the stock. Truist Financial increased their target price on Northern Trust from $155.00 to $176.00 and gave the company a “hold” rating in a report on Wednesday, April 22nd. Zacks Research downgraded Northern Trust from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 10th. Wells Fargo & Company raised their price objective on Northern Trust from $150.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 22nd. Finally, TD Cowen raised their price objective on Northern Trust from $165.00 to $175.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Four research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $163.55.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. CWM LLC grew its holdings in Northern Trust by 122.6% during 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. Bank of New York Mellon Corp lifted its holdings in shares of Northern Trust by 2.1% in the third quarter. Bank of New York Mellon Corp now owns 1,947,456 shares of the asset manager’s stock worth $262,128,000 after buying an additional 40,048 shares in the last quarter. iSAM Funds UK Ltd bought a new position in shares of Northern Trust during the third quarter worth $2,253,000. Barclays PLC boosted its position in shares of Northern Trust by 62.4% during the third quarter. Barclays PLC now owns 1,042,084 shares of the asset manager’s stock worth $140,265,000 after acquiring an additional 400,247 shares during the last quarter. Finally, Swiss Life Asset Management Ltd grew its stake in Northern Trust by 119.9% during the third quarter. Swiss Life Asset Management Ltd now owns 83,175 shares of the asset manager’s stock valued at $11,195,000 after acquiring an additional 45,356 shares in the last quarter. Institutional investors own 83.19% of the company’s stock.

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.