Insider Selling: Northern Trust Co. (NASDAQ:NTRS) EVP Sells $533,400.00 in Stock

Northern Trust Co. (NASDAQ:NTRS) EVP Mark C. Gossett sold 6,000 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $88.90, for a total value of $533,400.00. Following the sale, the executive vice president now directly owns 28,707 shares of the company’s stock, valued at $2,552,052.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Northern Trust Stock Performance

Shares of NASDAQ NTRS opened at $89.49 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71. Northern Trust Co. has a one year low of $62.44 and a one year high of $92.46. The business’s 50-day moving average price is $85.70 and its two-hundred day moving average price is $84.26. The company has a market capitalization of $18.31 billion, a P/E ratio of 19.75, a price-to-earnings-growth ratio of 1.29 and a beta of 1.10.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings data on Wednesday, July 17th. The asset manager reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.03. The firm had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $1.84 billion. Northern Trust had a return on equity of 12.24% and a net margin of 10.53%. The firm’s revenue was up 53.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.79 earnings per share. Analysts anticipate that Northern Trust Co. will post 7.02 earnings per share for the current fiscal year.

Northern Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 3.35%. The ex-dividend date of this dividend is Friday, September 6th. Northern Trust’s payout ratio is presently 66.23%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Keefe, Bruyette & Woods decreased their price target on Northern Trust from $92.00 to $85.00 and set a “market perform” rating for the company in a research report on Thursday, June 27th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Northern Trust from $85.00 to $84.00 and set a “hold” rating on the stock in a research report on Thursday, August 15th. Morgan Stanley reduced their price target on shares of Northern Trust from $97.00 to $93.00 and set an “underweight” rating for the company in a research report on Tuesday, July 30th. Royal Bank of Canada lifted their price objective on shares of Northern Trust from $86.00 to $90.00 and gave the stock an “outperform” rating in a research report on Thursday, July 18th. Finally, The Goldman Sachs Group decreased their target price on Northern Trust from $94.00 to $84.00 and set a “neutral” rating for the company in a research report on Tuesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $88.75.

Hedge Funds Weigh In On Northern Trust

Hedge funds have recently bought and sold shares of the business. Olistico Wealth LLC bought a new stake in shares of Northern Trust during the 2nd quarter worth about $25,000. Innealta Capital LLC bought a new stake in Northern Trust during the second quarter worth approximately $26,000. Spartan Planning & Wealth Management grew its holdings in Northern Trust by 10,566.7% during the fourth quarter. Spartan Planning & Wealth Management now owns 320 shares of the asset manager’s stock valued at $27,000 after purchasing an additional 317 shares during the last quarter. Ridgewood Investments LLC bought a new position in shares of Northern Trust in the second quarter valued at approximately $30,000. Finally, Versant Capital Management Inc lifted its stake in shares of Northern Trust by 343.9% in the second quarter. Versant Capital Management Inc now owns 435 shares of the asset manager’s stock worth $37,000 after buying an additional 337 shares during the last quarter. 83.19% of the stock is owned by institutional investors and hedge funds.

Northern Trust Company Profile

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.