Insider Selling: Northern Trust Co. (NASDAQ:NTRS) Insider Sells $338,248.32 in Stock

Northern Trust Co. (NASDAQ:NTRS) insider Steven L. Fradkin sold 4,097 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $82.56, for a total value of $338,248.32. Following the sale, the insider now directly owns 46,078 shares of the company’s stock, valued at $3,804,199.68. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Northern Trust Price Performance

NASDAQ NTRS opened at $84.62 on Monday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.61. Northern Trust Co. has a 12-month low of $62.44 and a 12-month high of $89.25. The company has a market capitalization of $17.31 billion, a PE ratio of 18.68, a price-to-earnings-growth ratio of 1.21 and a beta of 1.13. The firm’s 50 day moving average is $83.99 and its 200-day moving average is $80.22.

Northern Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 7th will be paid a $0.75 dividend. The ex-dividend date is Friday, June 7th. This represents a $3.00 annualized dividend and a dividend yield of 3.55%. Northern Trust’s dividend payout ratio is presently 66.23%.

Hedge Funds Weigh In On Northern Trust

Hedge funds and other institutional investors have recently made changes to their positions in the company. Spartan Planning & Wealth Management grew its stake in shares of Northern Trust by 10,566.7% in the fourth quarter. Spartan Planning & Wealth Management now owns 320 shares of the asset manager’s stock valued at $27,000 after buying an additional 317 shares in the last quarter. Fortitude Family Office LLC bought a new position in shares of Northern Trust in the fourth quarter valued at $28,000. Allworth Financial LP grew its stake in shares of Northern Trust by 94.1% in the fourth quarter. Allworth Financial LP now owns 359 shares of the asset manager’s stock valued at $30,000 after buying an additional 174 shares in the last quarter. Quent Capital LLC grew its stake in shares of Northern Trust by 77.8% in the fourth quarter. Quent Capital LLC now owns 361 shares of the asset manager’s stock valued at $30,000 after buying an additional 158 shares in the last quarter. Finally, Friedenthal Financial bought a new position in shares of Northern Trust in the fourth quarter valued at $45,000. 83.19% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have commented on NTRS shares. Morgan Stanley restated an “underweight” rating and set a $86.00 target price (up from $82.00) on shares of Northern Trust in a report on Tuesday, January 30th. TheStreet upgraded shares of Northern Trust from a “c+” rating to a “b-” rating in a report on Friday, January 12th. UBS Group raised their target price on shares of Northern Trust from $72.00 to $84.00 and gave the stock a “neutral” rating in a report on Tuesday, January 9th. Evercore ISI raised their target price on shares of Northern Trust from $86.00 to $87.00 and gave the stock an “in-line” rating in a report on Thursday, April 4th. Finally, Royal Bank of Canada raised their target price on shares of Northern Trust from $82.00 to $86.00 and gave the stock an “outperform” rating in a report on Friday, January 19th. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $84.92.

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.