Stock Traders Buy High Volume of Northern Trust Call Options (NTRS)

Northern Trust (NASDAQ:NTRS) was the target of unusually large options trading on Monday. Investors bought 1,282 call options on the stock. This is an increase of 1,121% compared to the typical daily volume of 105 call options.

Northern Trust opened at $108.45 on Tuesday, MarketBeat reports. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.66 and a current ratio of 0.66. The firm has a market capitalization of $24.26 billion, a PE ratio of 22.45, a P/E/G ratio of 1.42 and a beta of 0.95. Northern Trust has a twelve month low of $85.69 and a twelve month high of $110.81.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings results on Tuesday, April 17th. The asset manager reported $1.58 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.42 by $0.16. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.45 billion. Northern Trust had a return on equity of 13.88% and a net margin of 21.84%. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.09 EPS. analysts expect that Northern Trust will post 6.5 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Sunday, July 1st. Stockholders of record on Friday, June 8th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date of this dividend is Thursday, June 7th. Northern Trust’s dividend payout ratio (DPR) is currently 34.78%.

Several research firms have issued reports on NTRS. BidaskClub downgraded Northern Trust from a “hold” rating to a “sell” rating in a report on Saturday, February 10th. Morgan Stanley upped their price objective on Northern Trust from $104.00 to $110.00 and gave the stock an “underweight” rating in a report on Friday, February 2nd. Bank of America upped their price objective on Northern Trust from $112.00 to $116.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Vining Sparks reaffirmed a “buy” rating and set a $118.00 price objective on shares of Northern Trust in a report on Wednesday, January 24th. Finally, Deutsche Bank upped their price objective on Northern Trust from $109.00 to $111.00 and gave the stock a “hold” rating in a report on Friday, April 6th. One analyst has rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Northern Trust currently has a consensus rating of “Hold” and a consensus price target of $110.75.

In other Northern Trust news, CFO Biff Bowman sold 13,811 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $108.53, for a total transaction of $1,498,907.83. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Jana R. Schreuder sold 3,730 shares of the company’s stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $105.14, for a total value of $392,172.20. The disclosure for this sale can be found here. Insiders sold a total of 118,281 shares of company stock worth $12,768,827 over the last three months. 1.04% of the stock is owned by company insiders.

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased its position in shares of Northern Trust by 0.6% in the 1st quarter. BlackRock Inc. now owns 13,646,227 shares of the asset manager’s stock valued at $1,407,333,000 after buying an additional 78,044 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Northern Trust by 4.0% in the 4th quarter. Geode Capital Management LLC now owns 2,436,308 shares of the asset manager’s stock valued at $242,889,000 after buying an additional 93,566 shares in the last quarter. Burgundy Asset Management Ltd. increased its position in shares of Northern Trust by 0.3% in the 4th quarter. Burgundy Asset Management Ltd. now owns 2,393,055 shares of the asset manager’s stock valued at $239,042,000 after buying an additional 6,255 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Northern Trust by 2.5% in the 1st quarter. Wells Fargo & Company MN now owns 2,158,254 shares of the asset manager’s stock valued at $222,582,000 after buying an additional 52,169 shares in the last quarter. Finally, Champlain Investment Partners LLC increased its position in shares of Northern Trust by 2.0% in the 1st quarter. Champlain Investment Partners LLC now owns 1,339,505 shares of the asset manager’s stock valued at $138,143,000 after buying an additional 26,015 shares in the last quarter. 78.27% of the stock is currently owned by institutional investors.

About Northern Trust

Northern Trust Corporation, a financial holding company, provides asset servicing, fund administration, asset management, fiduciary, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates through Corporate & Institutional Services (C&IS) and Wealth Management segments.

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