Traders Buy Large Volume of Put Options on Northern Trust (NTRS)
Northern Trust Co. (NASDAQ:NTRS) saw some unusual options trading on Wednesday. Stock traders acquired 627 put options on the company. This is an increase of approximately 865% compared to the typical volume of 65 put options.
Northern Trust (NASDAQ NTRS) opened at $102.00 on Friday. Northern Trust has a 52-week low of $81.92 and a 52-week high of $104.84. The stock has a market capitalization of $22,753.48, a P/E ratio of 22.57, a PEG ratio of 1.83 and a beta of 0.97. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.71 and a quick ratio of 0.71.
Northern Trust (NASDAQ:NTRS) last announced its earnings results on Wednesday, October 18th. The asset manager reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.08. Northern Trust had a return on equity of 12.33% and a net margin of 20.27%. The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same quarter in the prior year, the company earned $1.11 EPS. The business’s revenue was up 11.2% compared to the same quarter last year. research analysts expect that Northern Trust will post 4.69 earnings per share for the current fiscal year.
In other news, Vice Chairman William L. Morrison sold 30,000 shares of the business’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $96.48, for a total value of $2,894,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Frederick H. Waddell sold 177,964 shares of the business’s stock in a transaction dated Wednesday, October 18th. The shares were sold at an average price of $95.64, for a total value of $17,020,476.96. The disclosure for this sale can be found here. In the last three months, insiders sold 323,382 shares of company stock valued at $31,182,013. 1.27% of the stock is currently owned by corporate insiders.
Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Northern Trust by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 14,255,623 shares of the asset manager’s stock worth $1,385,789,000 after acquiring an additional 363,691 shares in the last quarter. BlackRock Inc. grew its stake in shares of Northern Trust by 0.3% in the 2nd quarter. BlackRock Inc. now owns 13,318,550 shares of the asset manager’s stock worth $1,294,697,000 after buying an additional 38,780 shares during the last quarter. Northern Trust Corp grew its stake in shares of Northern Trust by 1.5% in the 2nd quarter. Northern Trust Corp now owns 12,414,424 shares of the asset manager’s stock worth $1,206,806,000 after buying an additional 184,112 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Northern Trust by 0.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,262,483 shares of the asset manager’s stock worth $759,569,000 after buying an additional 41,048 shares during the last quarter. Finally, Burgundy Asset Management Ltd. grew its stake in shares of Northern Trust by 0.6% in the 3rd quarter. Burgundy Asset Management Ltd. now owns 2,386,800 shares of the asset manager’s stock worth $219,419,000 after buying an additional 13,249 shares during the last quarter. 81.69% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have commented on NTRS shares. UBS Group raised Northern Trust from a “neutral” rating to a “buy” rating and upped their price target for the company from $92.00 to $100.00 in a research report on Friday, September 8th. Zacks Investment Research raised Northern Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, September 13th. Citigroup reaffirmed a “neutral” rating and set a $92.00 price target (up previously from $90.00) on shares of Northern Trust in a research report on Monday, October 9th. Buckingham Research upped their price target on Northern Trust from $95.00 to $97.00 and gave the company a “neutral” rating in a research report on Thursday, October 19th. Finally, Morgan Stanley upped their price target on Northern Trust from $83.00 to $91.00 and gave the company an “underweight” rating in a research report on Thursday, October 19th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $99.86.
ILLEGAL ACTIVITY NOTICE: This article was first published by American Banking News and is the sole property of of American Banking News. If you are viewing this article on another domain, it was illegally stolen and reposted in violation of international copyright laws. The original version of this article can be accessed at https://www.americanbankingnews.com/2018/01/06/traders-buy-large-volume-of-put-options-on-northern-trust-ntrs.html.
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.
Receive News & Ratings for Northern Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Northern Trust and related companies with MarketBeat.com's FREE daily email newsletter.