Susan Gillian Pembleton Sells 9,793 Shares of Northern Trust Co. (NTRS) Stock
Northern Trust Co. (NASDAQ:NTRS) EVP Susan Gillian Pembleton sold 9,793 shares of Northern Trust stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $88.29, for a total value of $864,623.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Northern Trust Co. (NASDAQ:NTRS) traded up 0.46% during midday trading on Friday, hitting $88.69. The company had a trading volume of 882,880 shares. Northern Trust Co. has a 52 week low of $61.32 and a 52 week high of $92.29. The firm has a market capitalization of $20.36 billion, a P/E ratio of 20.23 and a beta of 1.05. The firm’s 50 day moving average is $88.52 and its 200-day moving average is $86.75.
Northern Trust (NASDAQ:NTRS) last released its earnings results on Tuesday, April 25th. The asset manager reported $1.09 EPS for the quarter, beating the Zacks’ consensus estimate of $1.07 by $0.02. The business had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Northern Trust had a return on equity of 11.68% and a net margin of 19.76%. The firm’s revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.99 earnings per share. On average, equities research analysts expect that Northern Trust Co. will post $4.80 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Saturday, July 1st. Investors of record on Friday, June 2nd will be paid a $0.38 dividend. The ex-dividend date is Wednesday, May 31st. This represents a $1.52 dividend on an annualized basis and a yield of 1.71%. Northern Trust’s dividend payout ratio is presently 35.43%.
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Several equities analysts have recently issued reports on the company. Bank of America Corp assumed coverage on Northern Trust in a research note on Friday. They issued a “buy” rating and a $98.00 price target on the stock. Credit Suisse Group AG reiterated a “hold” rating and issued a $90.00 price target on shares of Northern Trust in a research note on Monday, May 15th. Deutsche Bank AG decreased their price target on Northern Trust from $94.00 to $93.00 and set a “hold” rating on the stock in a research note on Thursday, April 6th. Jefferies Group LLC reiterated a “buy” rating and issued a $102.00 price target on shares of Northern Trust in a research note on Wednesday, May 17th. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $97.00 price target on shares of Northern Trust in a research note on Wednesday, May 10th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Northern Trust currently has a consensus rating of “Hold” and a consensus target price of $88.71.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quantbot Technologies LP boosted its position in Northern Trust by 182.4% in the third quarter. Quantbot Technologies LP now owns 14,210 shares of the asset manager’s stock worth $966,000 after buying an additional 9,179 shares in the last quarter. Mizuho Trust & Banking Co. Ltd. boosted its position in Northern Trust by 0.5% in the third quarter. Mizuho Trust & Banking Co. Ltd. now owns 334,643 shares of the asset manager’s stock worth $22,752,000 after buying an additional 1,637 shares in the last quarter. Marble Harbor Investment Counsel LLC boosted its position in Northern Trust by 1.7% in the third quarter. Marble Harbor Investment Counsel LLC now owns 111,761 shares of the asset manager’s stock worth $7,599,000 after buying an additional 1,820 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in Northern Trust by 6.6% in the third quarter. PNC Financial Services Group Inc. now owns 1,591,920 shares of the asset manager’s stock worth $108,235,000 after buying an additional 98,312 shares in the last quarter. Finally, Confluence Investment Management LLC boosted its position in Northern Trust by 10.0% in the third quarter. Confluence Investment Management LLC now owns 983,792 shares of the asset manager’s stock worth $66,888,000 after buying an additional 89,081 shares in the last quarter. 79.48% of the stock is currently owned by institutional investors and hedge funds.
About Northern Trust
Northern Trust Corporation is a financial holding company. The Company provides asset servicing, fund administration, asset management, fiduciary and banking solutions for corporations, institutions, families and individuals across the world. Its segments include Corporate & Institutional Services (C&IS), Wealth Management, and Treasury and Other.
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