Peter Cherecwich Sells 26,132 Shares of Northern Trust Co. (NASDAQ:NTRS) Stock

Northern Trust Co. (NASDAQ:NTRS) COO Peter Cherecwich sold 26,132 shares of the firm’s stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $112.36, for a total value of $2,936,191.52. Following the completion of the transaction, the chief operating officer now owns 26,586 shares of the company’s stock, valued at approximately $2,987,202.96. This represents a 49.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 shares were sold at an average price of $105.18, for a total value of $1,698,972.54.

Northern Trust Stock Performance

NASDAQ:NTRS traded down $0.45 during midday trading on Friday, reaching $112.29. 1,057,367 shares of the company traded hands, compared to its average volume of 1,210,418. Northern Trust Co. has a twelve month low of $76.67 and a twelve month high of $114.21. The firm 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 current ratio of 0.68 and a quick ratio of 0.71. The company has a fifty day moving average price of $106.20 and a 200 day moving average price of $97.31.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings results on Thursday, January 23rd. The asset manager reported $2.26 earnings per share (EPS) for the quarter, topping 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%. On average, analysts expect that Northern Trust Co. will post 8.2 EPS for the current fiscal year.

Northern Trust Dividend Announcement

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

Institutional Trading of Northern Trust

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Y.D. More Investments Ltd raised its position in shares of Northern Trust by 118.4% during the fourth quarter. Y.D. More Investments Ltd now owns 249 shares of the asset manager’s stock worth $26,000 after purchasing an additional 135 shares during the period. Empirical Asset Management LLC acquired a new stake in shares of Northern Trust during the fourth quarter worth $33,000. Northwest Investment Counselors LLC purchased a new position in shares of Northern Trust during the third quarter valued at $39,000. Brooklyn Investment Group grew its holdings in shares of Northern Trust by 51.2% during the fourth quarter. Brooklyn Investment Group now owns 378 shares of the asset manager’s stock valued at $39,000 after buying an additional 128 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in shares of Northern Trust during the third quarter valued at $48,000. Institutional investors own 83.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Barclays raised their price target on Northern Trust from $115.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. StockNews.com upgraded Northern Trust from a “hold” rating to a “buy” rating in a report on Friday, January 24th. Truist Financial raised their target price on Northern Trust from $110.00 to $116.00 and gave the company a “hold” rating in a report on Friday, January 24th. UBS Group raised their target price on Northern Trust from $110.00 to $114.00 and gave the company a “neutral” rating in a report on Monday. Finally, Wells Fargo & Company raised their target price on Northern Trust from $108.00 to $110.00 and gave the company an “equal weight” rating in a report on Friday, November 15th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $112.58.

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.