Robert Edward Jr. Moritz Purchases 245 Shares of Northern Trust (NASDAQ:NTRS) Stock

Northern Trust Corporation (NASDAQ:NTRS) Director Robert Edward Jr. Moritz purchased 245 shares of the stock in a transaction on Monday, February 2nd. The shares were acquired at an average cost of $151.85 per share, with a total value of $37,203.25. Following the transaction, the director directly owned 6,931 shares in the company, valued at $1,052,472.35. The trade was a 3.66% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website.

Northern Trust Price Performance

NTRS opened at $150.80 on Thursday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.70 and a current ratio of 0.69. The stock has a market capitalization of $28.52 billion, a PE ratio of 17.25, a price-to-earnings-growth ratio of 1.21 and a beta of 1.27. The stock’s 50 day moving average price is $141.58 and its 200-day moving average price is $133.22. Northern Trust Corporation has a 52-week low of $81.62 and a 52-week high of $157.60.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings data on Friday, January 30th. The asset manager reported $2.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.37 by $0.05. Northern Trust had a net margin of 12.15% and a return on equity of 14.87%. The business had revenue of $3.15 billion for the quarter. During the same period in the previous year, the firm posted $2.26 earnings per share. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. On average, equities research analysts predict that Northern Trust Corporation will post 8.27 EPS for the current year.

Northern Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 6th will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Friday, March 6th. Northern Trust’s payout ratio is presently 36.61%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on NTRS shares. Evercore ISI lifted their price target on Northern Trust from $142.00 to $155.00 and gave the company an “in-line” rating in a research report on Friday, January 23rd. Truist Financial set a $148.00 target price on shares of Northern Trust in a report on Wednesday, January 7th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Northern Trust in a research note on Thursday, January 22nd. TD Cowen boosted their price objective on shares of Northern Trust from $165.00 to $175.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Northern Trust from $123.00 to $125.00 and gave the company an “underperform” rating in a research note on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $148.75.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. New Age Alpha Advisors LLC grew its stake in shares of Northern Trust by 4.9% during the 3rd quarter. New Age Alpha Advisors LLC now owns 1,659 shares of the asset manager’s stock worth $223,000 after purchasing an additional 78 shares during the period. Salomon & Ludwin LLC boosted its holdings in Northern Trust by 13.1% during the third quarter. Salomon & Ludwin LLC now owns 682 shares of the asset manager’s stock worth $90,000 after buying an additional 79 shares in the last quarter. New York Life Investment Management LLC increased its holdings in Northern Trust by 0.3% in the second quarter. New York Life Investment Management LLC now owns 29,132 shares of the asset manager’s stock valued at $3,694,000 after buying an additional 80 shares in the last quarter. Compound Planning Inc. lifted its position in shares of Northern Trust by 5.1% during the 3rd quarter. Compound Planning Inc. now owns 1,666 shares of the asset manager’s stock valued at $224,000 after acquiring an additional 81 shares during the period. Finally, Apollon Wealth Management LLC boosted its stake in shares of Northern Trust by 1.9% during the 4th quarter. Apollon Wealth Management LLC now owns 4,379 shares of the asset manager’s stock worth $598,000 after acquiring an additional 81 shares in the last quarter. 83.19% of the stock is owned by hedge funds and other institutional investors.

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.