Short Interest in Northern Trust Corporation (NASDAQ:NTRS) Declines By 35.2%

Northern Trust Corporation (NASDAQ:NTRS) was the recipient of a significant decrease in short interest in December. As of December 31st, there was short interest totaling 1,738,330 shares, a decrease of 35.2% from the December 15th total of 2,684,026 shares. Currently, 0.9% of the shares of the stock are short sold. Based on an average daily volume of 969,514 shares, the short-interest ratio is presently 1.8 days. Based on an average daily volume of 969,514 shares, the short-interest ratio is presently 1.8 days. Currently, 0.9% of the shares of the stock are short sold.

Northern Trust Price Performance

NASDAQ:NTRS traded down $1.53 during midday trading on Friday, hitting $145.57. 1,222,277 shares of the stock were exchanged, compared to its average volume of 819,693. Northern Trust has a one year low of $81.62 and a one year high of $148.98. The company has a market capitalization of $27.53 billion, a price-to-earnings ratio of 16.97, a P/E/G ratio of 1.21 and a beta of 1.27. The business has a 50-day moving average price of $136.15 and a two-hundred day moving average price of $131.25. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.58.

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

Northern Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 1st. Stockholders of record on Friday, December 5th were given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Friday, December 5th. Northern Trust’s dividend payout ratio is 37.30%.

Insider Buying and Selling

In other Northern Trust news, Director Robert Edward Jr. Moritz purchased 3,891 shares of the stock in a transaction that occurred on Tuesday, November 4th. The shares were bought at an average cost of $128.57 per share, with a total value of $500,265.87. Following the acquisition, the director owned 6,686 shares in the company, valued at approximately $859,619.02. This trade represents a 139.21% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John Landers sold 766 shares of Northern Trust stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $124.35, for a total value of $95,252.10. Following the completion of the sale, the insider directly owned 7,313 shares in the company, valued at $909,371.55. This trade represents a 9.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.77% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Northern Trust

A number of hedge funds have recently bought and sold shares of the company. FNY Investment Advisers LLC bought a new stake in shares of Northern Trust in the 2nd quarter valued at $25,000. Triumph Capital Management acquired a new position in Northern Trust in the 3rd quarter worth $25,000. Hantz Financial Services Inc. raised its position in Northern Trust by 5,225.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 213 shares of the asset manager’s stock valued at $27,000 after buying an additional 209 shares during the last quarter. AlphaCore Capital LLC increased its position in shares of Northern Trust by 87.4% in the second quarter. AlphaCore Capital LLC now owns 208 shares of the asset manager’s stock valued at $27,000 after acquiring an additional 97 shares during the last quarter. Finally, Board of the Pension Protection Fund bought a new position in Northern Trust in the fourth quarter valued at approximately $27,000. 83.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on NTRS shares. The Goldman Sachs Group reiterated a “sell” rating and set a $130.00 price target on shares of Northern Trust in a research report on Tuesday, January 6th. Morgan Stanley boosted their price target on shares of Northern Trust from $127.00 to $131.00 and gave the company an “underweight” rating in a research report on Wednesday, December 17th. Wall Street Zen raised Northern Trust from a “sell” rating to a “hold” rating in a research report on Saturday, December 27th. BMO Capital Markets started coverage on Northern Trust in a report on Friday, October 3rd. They set a “market perform” rating and a $142.00 price objective for the company. Finally, Cowen reaffirmed a “buy” rating on shares of Northern Trust in a research report on Wednesday, January 7th. Five equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $136.00.

Northern Trust Company Profile

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.