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

Northern Trust Corporation (NASDAQ:NTRS) Director Robert Edward Jr. Moritz purchased 3,891 shares of Northern Trust stock in a transaction dated Tuesday, November 4th. The shares were purchased at an average cost of $128.57 per share, for a total transaction of $500,265.87. Following the transaction, the director owned 6,686 shares in the company, valued at approximately $859,619.02. This trade represents a 139.21% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

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

Northern Trust Stock Up 0.5%

Shares of NASDAQ NTRS opened at $128.19 on Thursday. The firm has a market cap of $24.51 billion, a price-to-earnings ratio of 14.94, a PEG ratio of 1.37 and a beta of 1.31. The company has a quick ratio of 0.72, a current ratio of 0.70 and a debt-to-equity ratio of 0.58. Northern Trust Corporation has a 52-week low of $81.62 and a 52-week high of $135.48. The business’s 50 day moving average is $129.31 and its two-hundred day moving average is $120.44.

Northern Trust (NASDAQ:NTRS) last announced its earnings results on Wednesday, October 22nd. The asset manager reported $2.29 earnings per share (EPS) 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 analyst estimates of $2.02 billion. Northern Trust had a return on equity of 14.37% and a net margin of 11.99%.The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.22 earnings per share. Research analysts predict that Northern Trust Corporation will post 8.27 EPS for the current year.

Northern Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 1st. Stockholders of record on Friday, December 5th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.5%. Northern Trust’s dividend payout ratio is currently 37.30%.

Analyst Ratings Changes

A number of research firms have recently weighed in on NTRS. Zacks Research lowered Northern Trust from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 9th. Wells Fargo & Company boosted their target price on shares of Northern Trust from $127.00 to $131.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 23rd. Barclays boosted their target price on shares of Northern Trust from $128.00 to $136.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 24th. Truist Financial lowered their price target on Northern Trust from $142.00 to $139.00 and set a “hold” rating for the company in a report on Thursday, October 23rd. Finally, Keefe, Bruyette & Woods upped their price target on Northern Trust from $123.00 to $125.00 and gave the company an “underperform” rating in a report on Thursday, October 23rd. Five investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, Northern Trust has an average rating of “Hold” and a consensus target price of $130.71.

Hedge Funds Weigh In On Northern Trust

Large investors have recently bought and sold shares of the stock. FNY Investment Advisers LLC acquired a new position in Northern Trust in the second quarter valued at $25,000. Hantz Financial Services Inc. boosted its stake in Northern Trust by 5,225.0% in the second quarter. Hantz Financial Services Inc. now owns 213 shares of the asset manager’s stock valued at $27,000 after acquiring an additional 209 shares in the last quarter. AlphaCore Capital LLC boosted its stake in shares of Northern Trust by 87.4% during the second quarter. AlphaCore Capital LLC now owns 208 shares of the asset manager’s stock worth $27,000 after buying an additional 97 shares during the period. Zions Bancorporation National Association UT acquired a new stake in shares of Northern Trust during the first quarter worth about $29,000. Finally, Clearstead Trust LLC acquired a new stake in shares of Northern Trust during the second quarter worth about $29,000. Institutional investors and hedge funds own 83.19% of the company’s stock.

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.