Northern Trust Co. (NASDAQ:NTRS) Director Charles A. Tribbett Sells 1,855 Shares

Northern Trust Co. (NASDAQ:NTRS) Director Charles A. Tribbett sold 1,855 shares of Northern Trust stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $88.12, for a total value of $163,462.60. Following the sale, the director now owns 1,000 shares of the company’s stock, valued at approximately $88,120. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Northern Trust Trading Up 1.7 %

Shares of NASDAQ NTRS traded up $1.51 during midday trading on Monday, hitting $89.75. The stock had a trading volume of 986,043 shares, compared to its average volume of 1,322,829. The company has a market capitalization of $18.36 billion, a price-to-earnings ratio of 19.81, a PEG ratio of 1.46 and a beta of 1.08. Northern Trust Co. has a 1-year low of $62.44 and a 1-year high of $92.46. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. The company has a fifty day moving average price of $87.19 and a 200 day moving average price of $85.07.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings data on Wednesday, July 17th. The asset manager reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.03. The business had revenue of $2.72 billion for the quarter, compared to analyst estimates of $1.84 billion. Northern Trust had a return on equity of 12.24% and a net margin of 10.53%. The company’s revenue was up 53.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.79 EPS. On average, analysts predict that Northern Trust Co. will post 7.01 earnings per share for the current year.

Northern Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 3.34%. The ex-dividend date of this dividend is Friday, September 6th. Northern Trust’s dividend payout ratio (DPR) is presently 66.23%.

Hedge Funds Weigh In On Northern Trust

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Sanctuary Advisors LLC acquired a new position in Northern Trust during the 2nd quarter worth approximately $1,622,000. Quarry LP acquired a new position in Northern Trust during the 2nd quarter worth approximately $130,000. Creative Planning increased its holdings in Northern Trust by 7.6% during the 2nd quarter. Creative Planning now owns 23,614 shares of the asset manager’s stock worth $1,983,000 after purchasing an additional 1,665 shares during the last quarter. MBB Public Markets I LLC purchased a new stake in Northern Trust during the 2nd quarter worth approximately $1,286,000. Finally, D. E. Shaw & Co. Inc. increased its holdings in Northern Trust by 5.4% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 510,425 shares of the asset manager’s stock worth $42,865,000 after purchasing an additional 26,083 shares during the last quarter. 83.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

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.