Northern Trust (NASDAQ:NTRS) Director Robert Edward Jr. Moritz Buys 3,891 Shares

by · The Markets Daily

Northern Trust Corporation (NASDAQ:NTRS – Get Free Report) Director Robert Edward Jr. Moritz purchased 3,891 shares of the stock in a transaction that occurred on Tuesday, November 4th. The stock was purchased at an average price of $128.57 per share, with a total value of $500,265.87. Following the acquisition, the director directly owned 6,686 shares of the company’s stock, valued at $859,619.02. This trade represents a 139.21% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Robert Edward Jr. Moritz also recently made the following trade(s):

  • On Monday, October 27th, Robert Edward Jr. Moritz acquired 270 shares of Northern Trust stock. The stock was acquired at an average cost of $126.66 per share, with a total value of $34,198.20.
  • On Wednesday, August 13th, Robert Edward Jr. Moritz acquired 256 shares of Northern Trust stock. The stock was acquired at an average cost of $126.34 per share, with a total value of $32,343.04.

Northern Trust Stock Up 0.5%

Northern Trust stock traded up $0.65 during mid-day trading on Wednesday, reaching $128.19. 827,468 shares of the company were exchanged, compared to its average volume of 1,470,247. Northern Trust Corporation has a 12-month low of $81.62 and a 12-month high of $135.48. The business has a fifty day moving average of $129.38 and a 200 day moving average of $120.38. The firm has a market cap of $24.51 billion, a P/E ratio of 14.94, a PEG ratio of 1.37 and a beta of 1.31. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.72 and a current ratio of 0.70.

Northern Trust (NASDAQ:NTRS – Get Free Report) last issued its quarterly earnings data on Wednesday, October 22nd. The asset manager reported $2.29 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.03. The company had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.02 billion. Northern Trust had a return on equity of 14.37% and a net margin of 11.99%.The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter last year, the company earned $2.22 earnings per share. Research analysts anticipate that Northern Trust Corporation will post 8.27 earnings per share for the current fiscal year.

Northern Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 1st. Shareholders of record on Friday, December 5th will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 2.5%. The ex-dividend date is Friday, December 5th. Northern Trust’s dividend payout ratio (DPR) is 37.30%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of NTRS. OneDigital Investment Advisors LLC boosted its position in Northern Trust by 58.3% during the first quarter. OneDigital Investment Advisors LLC now owns 3,102 shares of the asset manager’s stock worth $306,000 after acquiring an additional 1,142 shares during the last quarter. Wayfinding Financial LLC acquired a new position in shares of Northern Trust in the 1st quarter valued at $35,000. Bank of New York Mellon Corp increased its position in shares of Northern Trust by 47.8% during the 1st quarter. Bank of New York Mellon Corp now owns 1,810,816 shares of the asset manager’s stock worth $178,637,000 after purchasing an additional 585,992 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in Northern Trust by 73.6% during the first quarter. Envestnet Asset Management Inc. now owns 177,308 shares of the asset manager’s stock worth $17,491,000 after buying an additional 75,185 shares during the period. Finally, Crossmark Global Holdings Inc. raised its stake in shares of Northern Trust by 8.9% in the 1st quarter. Crossmark Global Holdings Inc. now owns 11,648 shares of the asset manager’s stock valued at $1,149,000 after acquiring an additional 951 shares during the period. 83.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NTRS has been the topic of a number of recent analyst reports. TD Cowen upped their price target on Northern Trust from $152.00 to $155.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. Morgan Stanley upped their target price on Northern Trust from $110.00 to $131.00 and gave the company an “underweight” rating in a research report on Monday, September 29th. Zacks Research downgraded Northern Trust from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 9th. The Goldman Sachs Group set a $135.00 target price on Northern Trust in a research note on Tuesday, September 30th. Finally, BMO Capital Markets assumed coverage on shares of Northern Trust in a report on Friday, October 3rd. They issued a “market perform” rating and a $142.00 price target on the stock. Five investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $130.71.

Read Our Latest Stock Report on NTRS

Northern Trust Company Profile

(Get Free Report)

Northern Trust Corporation, a financial holding company, provides wealth management, asset servicing, asset management, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates in two segments, Asset Servicing and Wealth Management. The Asset Servicing segment offers asset servicing and related services, including custody, fund administration, investment operations outsourcing, investment management, investment risk and analytical services, employee benefit services, securities lending, foreign exchange, treasury management, brokerage services, transition management services, banking, and cash management services.

See Also