Peter Cherecwich Sells 25,000 Shares of Northern Trust (NASDAQ:NTRS) Stock

Northern Trust Corporation (NASDAQ:NTRS) COO Peter Cherecwich sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, January 26th. The stock was sold at an average price of $149.62, for a total transaction of $3,740,500.00. Following the completion of the sale, the chief operating officer owned 26,259 shares in the company, valued at $3,928,871.58. The trade was a 48.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Northern Trust Stock Performance

NTRS opened at $150.25 on Thursday. Northern Trust Corporation has a fifty-two week low of $81.62 and a fifty-two week high of $157.60. The firm has a market cap of $28.42 billion, a PE ratio of 17.19, a P/E/G ratio of 1.21 and a beta of 1.27. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.57. The business has a fifty day simple moving average of $139.39 and a 200-day simple moving average of $132.36.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings results on Friday, January 30th. The asset manager reported $2.42 earnings per share for the quarter, topping analysts’ consensus estimates of $2.37 by $0.05. Northern Trust had a return on equity of 14.87% and a net margin of 12.15%.The firm had revenue of $3.15 billion for the quarter. During the same period in the prior year, the business posted $2.26 EPS. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. As a group, equities analysts predict that Northern Trust Corporation will post 8.27 EPS for the current fiscal year.

Northern Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Friday, March 6th will be issued a $0.80 dividend. The ex-dividend date is Friday, March 6th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.1%. Northern Trust’s dividend payout ratio is presently 36.61%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on NTRS shares. The Goldman Sachs Group increased their target price on shares of Northern Trust from $130.00 to $148.00 and gave the stock a “sell” rating in a research report on Wednesday. Morgan Stanley increased their price target on Northern Trust from $131.00 to $140.00 and gave the company an “underweight” rating in a report on Friday, January 23rd. Barclays lifted their price objective on Northern Trust from $136.00 to $160.00 and gave the stock an “equal weight” rating in a research note on Monday, January 5th. BMO Capital Markets began coverage on shares of Northern Trust in a research report on Friday, October 3rd. They set a “market perform” rating and a $142.00 price objective for the company. Finally, Keefe, Bruyette & Woods raised their target price on Northern Trust from $123.00 to $125.00 and gave the stock an “underperform” rating in a research report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $148.75.

Hedge Funds Weigh In On Northern Trust

Institutional investors have recently modified their holdings of the stock. New Age Alpha Advisors LLC lifted its stake in shares of Northern Trust by 4.9% during the third quarter. New Age Alpha Advisors LLC now owns 1,659 shares of the asset manager’s stock valued at $223,000 after acquiring an additional 78 shares during the period. Salomon & Ludwin LLC raised its position in shares of Northern Trust by 13.1% during the third quarter. Salomon & Ludwin LLC now owns 682 shares of the asset manager’s stock worth $90,000 after purchasing an additional 79 shares during the period. New York Life Investment Management LLC raised its holdings in Northern Trust by 0.3% during the 2nd quarter. New York Life Investment Management LLC now owns 29,132 shares of the asset manager’s stock worth $3,694,000 after buying an additional 80 shares during the period. Compound Planning Inc. raised its holdings in shares of Northern Trust by 5.1% during the third quarter. Compound Planning Inc. now owns 1,666 shares of the asset manager’s stock worth $224,000 after acquiring an additional 81 shares during the period. Finally, Apollon Wealth Management LLC lifted its holdings in shares of Northern Trust by 1.9% in the fourth quarter. Apollon Wealth Management LLC now owns 4,379 shares of the asset manager’s stock valued at $598,000 after purchasing an additional 81 shares in the last quarter. 83.19% of the stock is owned by institutional investors.

Northern Trust Company Profile

Northern Trust Corporation (NASDAQ: NTRS) is a global financial services firm headquartered in Chicago that provides asset servicing, asset management and wealth management solutions to institutions, corporations and high-net-worth individuals. The company’s core businesses include custody and fund administration, investment operations outsourcing, trust and fiduciary services, private banking, and retirement and defined contribution plan services.

Northern Trust’s product and service offerings span custody and fund accounting, portfolio and performance analytics, securities lending, cash management and foreign exchange, as well as discretionary and non-discretionary investment management.