David Fox, Jr. Sells 3,255 Shares of Northern Trust (NASDAQ:NTRS) Stock

Northern Trust Corporation (NASDAQ:NTRS) CFO David Fox, Jr. sold 3,255 shares of the business’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $143.89, for a total transaction of $468,361.95. Following the transaction, the chief financial officer owned 14,552 shares in the company, valued at approximately $2,093,887.28. The trade was a 18.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Northern Trust Stock Performance

Shares of NTRS stock opened at $138.59 on Friday. The company has a fifty day moving average price of $145.64 and a two-hundred day moving average price of $135.97. Northern Trust Corporation has a one year low of $81.62 and a one year high of $157.60. The stock has a market cap of $25.75 billion, a P/E ratio of 15.86, a P/E/G ratio of 1.15 and a beta of 1.27. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.69 and a quick ratio of 0.69.

Northern Trust (NASDAQ:NTRS) last issued its earnings results 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 company had revenue of $3.15 billion for the quarter. During the same period in the previous year, the company posted $2.26 earnings per share. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, equities analysts predict that Northern Trust Corporation will post 8.27 EPS for the current year.

Northern Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 6th will be issued a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, March 6th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.3%. Northern Trust’s payout ratio is presently 36.61%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp raised its holdings in Northern Trust by 2.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,947,456 shares of the asset manager’s stock worth $262,128,000 after purchasing an additional 40,048 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new stake in shares of Northern Trust during the third quarter worth $64,863,000. Aviva PLC raised its stake in Northern Trust by 8.4% during the second quarter. Aviva PLC now owns 149,911 shares of the asset manager’s stock worth $19,007,000 after buying an additional 11,587 shares during the last quarter. SG Americas Securities LLC lifted its holdings in Northern Trust by 228.0% in the third quarter. SG Americas Securities LLC now owns 75,829 shares of the asset manager’s stock valued at $10,207,000 after buying an additional 52,711 shares during the period. Finally, National Pension Service grew its holdings in Northern Trust by 4.3% during the 3rd quarter. National Pension Service now owns 360,527 shares of the asset manager’s stock worth $48,527,000 after acquiring an additional 14,899 shares during the period. 83.19% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on NTRS shares. Truist Financial set a $148.00 price objective on shares of Northern Trust in a research report on Wednesday, January 7th. Wall Street Zen upgraded shares of Northern Trust from a “sell” rating to a “hold” rating in a research note on Saturday, December 27th. The Goldman Sachs Group upped their price target on shares of Northern Trust from $130.00 to $148.00 and gave the company a “sell” rating in a research note on Wednesday, January 28th. Evercore increased their price target on shares of Northern Trust from $142.00 to $155.00 and gave the company an “in-line” rating in a report on Friday, January 23rd. Finally, Zacks Research upgraded shares of Northern Trust from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $148.75.

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.