Northern Trust (NASDAQ:NTRS) Stock: Insider Robert Edward Jr. Moritz Purchases 236 Shares

Northern Trust Corporation (NASDAQ:NTRS) Director Robert Moritz, Jr. acquired 236 shares of the firm’s stock in a transaction that occurred on Friday, October 30th. The shares were bought at an average price of $169.07 per share, with a total value of $39,900.52. Following the acquisition, the director directly owned 8,636 shares of the company’s stock, valued at $1,460,088.52. The trade was a 2.81% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Northern Trust Trading Up 1.1%

NASDAQ:NTRS opened at $172.60 on Wednesday. The stock has a market capitalization of $31.26 billion, a PE ratio of 13.53, a price-to-earnings-growth ratio of 0.87 and a beta of 1.21. The firm’s 50 day moving average is $174.97 and its 200 day moving average is $165.55. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.43. Northern Trust Corporation has a 12 month low of $121.53 and a 12 month high of $195.78.

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

Northern Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 1st. Stockholders of record on Friday, December 4th will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Friday, December 4th. Northern Trust’s payout ratio is 27.59%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Keefe, Bruyette & Woods cut their price objective on Northern Trust from $175.00 to $170.00 in a report on Thursday, October 8th. Citigroup decreased their price objective on Northern Trust from $186.00 to $170.00 and set a “neutral” rating on the stock in a report on Friday, October 23rd. Capital One Financial set a $190.00 target price on Northern Trust in a research note on Tuesday, October 6th. TD Cowen began coverage on Northern Trust in a report on Thursday, October 8th. They set a “hold” rating and a $175.00 target price for the company. Finally, Royal Bank Of Canada lowered Northern Trust from an “outperform” rating to a “sector perform” rating and raised their price target for the stock from $159.00 to $178.00 in a research report on Wednesday, July 22nd. Two research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Northern Trust currently has a consensus rating of “Hold” and a consensus price target of $181.03.

Institutional Investors Weigh In On Northern Trust

Large investors have recently added to or reduced their stakes in the company. HWG Holdings LP purchased a new stake in shares of Northern Trust in the third quarter worth $4,470,000. Renaissance Technologies LLC bought a new position in shares of Northern Trust during the first quarter valued at $2,303,000. Oppenheimer Asset Management Inc. purchased a new position in shares of Northern Trust in the 2nd quarter worth about $25,721,000. Bank of America Corp DE raised its position in shares of Northern Trust by 5.6% in the 1st quarter. Bank of America Corp DE now owns 622,852 shares of the asset manager’s stock worth $86,931,000 after purchasing an additional 33,029 shares during the last quarter. Finally, Nykredit A S bought a new position in Northern Trust in the 2nd quarter worth about $11,432,000. 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.