Northern Trust Co. (NASDAQ:NTRS) COO Sells $2,936,191.52 in Stock

Northern Trust Co. (NASDAQ:NTRS) COO Peter Cherecwich sold 26,132 shares of Northern Trust stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $112.36, for a total transaction of $2,936,191.52. Following the sale, the chief operating officer now directly owns 26,586 shares in the company, valued at $2,987,202.96. The trade was a 49.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Peter Cherecwich also recently made the following trade(s):

• On Thursday, November 7th, Peter Cherecwich sold 16,153 shares of Northern Trust stock. The stock was sold at an average price of $105.18, for a total value of $1,698,972.54.

Northern Trust Trading Down 0.4 %

NASDAQ NTRS opened at $112.29 on Friday. The company’s 50-day simple moving average is $106.20 and its two-hundred day simple moving average is $97.31. Northern Trust Co. has a one year low of $76.67 and a one year high of $114.21. The company has a market capitalization of $22.26 billion, a price-to-earnings ratio of 11.48, a price-to-earnings-growth ratio of 1.72 and a beta of 1.08. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.68.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings data on Thursday, January 23rd. The asset manager reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.96 by $0.30. Northern Trust had a return on equity of 13.74% and a net margin of 12.77%. Equities analysts forecast that Northern Trust Co. will post 8.2 EPS for the current fiscal year.

Northern Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a $0.75 dividend. The ex-dividend date is Friday, March 14th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.67%. Northern Trust’s payout ratio is 30.67%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in NTRS. Convergence Investment Partners LLC boosted its holdings in Northern Trust by 51.4% in the fourth quarter. Convergence Investment Partners LLC now owns 25,426 shares of the asset manager’s stock worth $2,606,000 after acquiring an additional 8,629 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund raised its position in shares of Northern Trust by 33.2% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 7,955 shares of the asset manager’s stock valued at $815,000 after purchasing an additional 1,985 shares during the last quarter. Venturi Wealth Management LLC boosted its stake in Northern Trust by 434.6% in the 4th quarter. Venturi Wealth Management LLC now owns 1,791 shares of the asset manager’s stock worth $184,000 after purchasing an additional 1,456 shares in the last quarter. Truist Financial Corp grew its position in Northern Trust by 6.4% during the 4th quarter. Truist Financial Corp now owns 12,313 shares of the asset manager’s stock worth $1,262,000 after purchasing an additional 744 shares during the last quarter. Finally, CIBC Asset Management Inc increased its stake in Northern Trust by 1.0% during the 4th quarter. CIBC Asset Management Inc now owns 34,954 shares of the asset manager’s stock valued at $3,583,000 after purchasing an additional 356 shares in the last quarter. 83.19% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Morgan Stanley dropped their price target on Northern Trust from $127.00 to $125.00 and set an “equal weight” rating on the stock in a research report on Friday, January 3rd. Deutsche Bank Aktiengesellschaft boosted their target price on Northern Trust from $100.00 to $108.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Bank of America raised their price target on Northern Trust from $103.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Truist Financial upped their price target on shares of Northern Trust from $110.00 to $116.00 and gave the stock a “hold” rating in a research note on Friday, January 24th. Finally, StockNews.com upgraded shares of Northern Trust from a “hold” rating to a “buy” rating in a research note on Friday, January 24th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $112.58.

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.