Teresa Parker Sells 6,467 Shares of Northern Trust Co. (NASDAQ:NTRS) Stock

Northern Trust Co. (NASDAQ:NTRS) insider Teresa Parker sold 6,467 shares of Northern Trust stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $100.62, for a total value of $650,709.54. Following the completion of the sale, the insider now directly owns 79,391 shares in the company, valued at $7,988,322.42. This represents a 7.53% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Northern Trust Trading Up 1.4%

Shares of Northern Trust stock opened at $107.14 on Wednesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.68 and a quick ratio of 0.71. Northern Trust Co. has a 1 year low of $79.68 and a 1 year high of $114.67. The company has a market capitalization of $20.84 billion, a P/E ratio of 10.96, a P/E/G ratio of 1.72 and a beta of 1.18. The business has a 50 day moving average price of $95.06 and a 200 day moving average price of $102.95.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings data on Tuesday, April 22nd. The asset manager reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.05. Northern Trust had a return on equity of 13.74% and a net margin of 12.77%. The firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.95 billion. Sell-side analysts anticipate that Northern Trust Co. will post 8.27 EPS for the current fiscal year.

Northern Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 6th will be given a dividend of $0.75 per share. The ex-dividend date is Friday, June 6th. This represents a $3.00 annualized dividend and a dividend yield of 2.80%. Northern Trust’s dividend payout ratio is currently 27.99%.

Analyst Ratings Changes

NTRS has been the topic of a number of analyst reports. Wells Fargo & Company lowered their price objective on Northern Trust from $118.00 to $111.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 23rd. Evercore ISI reduced their price target on shares of Northern Trust from $104.00 to $100.00 and set an “in-line” rating for the company in a research report on Wednesday, April 23rd. Truist Financial reduced their price target on shares of Northern Trust from $98.00 to $92.00 and set a “hold” rating for the company in a research report on Wednesday, April 23rd. The Goldman Sachs Group lifted their price target on shares of Northern Trust from $92.00 to $102.00 and gave the company a “sell” rating in a research report on Friday, January 24th. Finally, Morgan Stanley reduced their price target on shares of Northern Trust from $136.00 to $132.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 2nd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $110.83.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Y.D. More Investments Ltd raised its holdings in Northern Trust by 118.4% in the 4th quarter. Y.D. More Investments Ltd now owns 249 shares of the asset manager’s stock valued at $26,000 after acquiring an additional 135 shares during the last quarter. Colonial Trust Co SC raised its holdings in Northern Trust by 6,400.0% in the 4th quarter. Colonial Trust Co SC now owns 260 shares of the asset manager’s stock valued at $27,000 after acquiring an additional 256 shares during the last quarter. Continuum Advisory LLC raised its holdings in Northern Trust by 5,340.0% in the 1st quarter. Continuum Advisory LLC now owns 272 shares of the asset manager’s stock valued at $27,000 after acquiring an additional 267 shares during the last quarter. Zions Bancorporation National Association UT acquired a new position in Northern Trust in the 1st quarter valued at $29,000. Finally, Empirical Asset Management LLC acquired a new position in Northern Trust in the 4th quarter valued at $33,000. 83.19% of the stock is currently owned by institutional investors and hedge funds.

About Northern Trust

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.