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

Northern Trust Co. (NASDAQ:NTRS) Director Charles A. Tribbett sold 1,855 shares of Northern Trust stock in a transaction that occurred on 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 in the company, valued at $88,120. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Northern Trust Stock Performance

NTRS traded up $1.51 during trading on Monday, reaching $89.75. 986,043 shares of the company were exchanged, compared to its average volume of 1,322,829. The stock has a market cap of $18.36 billion, a P/E ratio of 19.81, a PEG ratio of 1.46 and a beta of 1.08. The firm has a 50 day moving average of $87.19 and a 200 day moving average of $85.07. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. Northern Trust Co. has a 52 week low of $62.44 and a 52 week high of $92.46.

Northern Trust (NASDAQ:NTRS) last issued 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 during 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 period in the prior year, the business earned $1.79 EPS. On average, sell-side analysts forecast that Northern Trust Co. will post 7.01 EPS for the current fiscal year.

Northern Trust Dividend Announcement

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

Hedge Funds Weigh In On Northern Trust

A number of hedge funds and other institutional investors have recently modified their holdings of NTRS. Wellington Management Group LLP raised its stake in shares of Northern Trust by 140.2% during the 4th quarter. Wellington Management Group LLP now owns 5,802,792 shares of the asset manager’s stock worth $489,640,000 after purchasing an additional 3,387,002 shares in the last quarter. Confluence Investment Management LLC acquired a new stake in Northern Trust in the 1st quarter valued at $105,665,000. Norges Bank acquired a new stake in Northern Trust in the 4th quarter valued at $90,532,000. Massachusetts Financial Services Co. MA boosted its stake in Northern Trust by 13.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,413,620 shares of the asset manager’s stock valued at $622,596,000 after buying an additional 850,556 shares in the last quarter. Finally, Primecap Management Co. CA boosted its stake in Northern Trust by 6.1% in the 4th quarter. Primecap Management Co. CA now owns 6,891,902 shares of the asset manager’s stock valued at $581,539,000 after buying an additional 394,855 shares in the last quarter. Institutional investors and hedge funds own 83.19% of the company’s stock.

Wall Street Analyst Weigh In

NTRS has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft dropped their price objective on Northern Trust from $85.00 to $84.00 and set a “hold” rating on the stock in a report on Thursday, August 15th. 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. 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. Morgan Stanley lowered their price target on Northern Trust from $97.00 to $93.00 and set an “underweight” rating for the company in a report on Tuesday, July 30th. Finally, Royal Bank of Canada boosted 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 analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $88.75.

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.