Northern Trust Corporation (NASDAQ:NTRS) Sees Large Decrease in Short Interest

Northern Trust Corporation (NASDAQ:NTRS) saw a significant decline in short interest during the month of December. As of December 31st, there was short interest totaling 1,738,330 shares, a decline of 35.2% from the December 15th total of 2,684,026 shares. Currently, 0.9% of the shares of the company are sold short. Based on an average daily trading volume, of 969,514 shares, the short-interest ratio is presently 1.8 days. Based on an average daily trading volume, of 969,514 shares, the short-interest ratio is presently 1.8 days. Currently, 0.9% of the shares of the company are sold short.

Insider Transactions at Northern Trust

In other Northern Trust news, insider John Landers sold 766 shares of the business’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $124.35, for a total transaction of $95,252.10. Following the completion of the transaction, the insider owned 7,313 shares in the company, valued at approximately $909,371.55. The trade was a 9.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robert Edward Jr. Moritz purchased 3,891 shares of the stock in a transaction dated Tuesday, November 4th. The shares were acquired at an average cost of $128.57 per share, for a total transaction of $500,265.87. Following the completion of the acquisition, the director directly owned 6,686 shares of the company’s stock, valued at approximately $859,619.02. This trade represents a 139.21% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.77% of the company’s stock.

Institutional Investors Weigh In On Northern Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. New Age Alpha Advisors LLC increased its stake in shares of Northern Trust by 4.9% in the third quarter. New Age Alpha Advisors LLC now owns 1,659 shares of the asset manager’s stock worth $223,000 after acquiring an additional 78 shares during the last quarter. Salomon & Ludwin LLC grew its stake in Northern Trust by 13.1% in the third quarter. Salomon & Ludwin LLC now owns 682 shares of the asset manager’s stock valued at $90,000 after purchasing an additional 79 shares in the last quarter. New York Life Investment Management LLC increased its position in Northern Trust by 0.3% in the 2nd quarter. New York Life Investment Management LLC now owns 29,132 shares of the asset manager’s stock worth $3,694,000 after purchasing an additional 80 shares during the last quarter. Compound Planning Inc. raised its stake in shares of Northern Trust by 5.1% during the 3rd quarter. Compound Planning Inc. now owns 1,666 shares of the asset manager’s stock worth $224,000 after purchasing an additional 81 shares in the last quarter. Finally, NorthRock Partners LLC lifted its holdings in shares of Northern Trust by 2.2% during the 3rd quarter. NorthRock Partners LLC now owns 3,812 shares of the asset manager’s stock valued at $513,000 after buying an additional 83 shares during the last quarter. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on NTRS. BMO Capital Markets assumed coverage on Northern Trust in a report on Friday, October 3rd. They set a “market perform” rating and a $142.00 target price on the stock. Cowen reissued a “buy” rating on shares of Northern Trust in a research note on Wednesday, January 7th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Northern Trust in a research note on Wednesday, October 8th. Morgan Stanley boosted their price target on shares of Northern Trust from $127.00 to $131.00 and gave the stock an “underweight” rating in a research report on Wednesday, December 17th. Finally, Wells Fargo & Company raised their price objective on shares of Northern Trust from $127.00 to $131.00 and gave the company an “equal weight” rating in a research report on Thursday, October 23rd. Five analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Northern Trust presently has an average rating of “Hold” and an average target price of $136.00.

Northern Trust Trading Down 1.0%

Shares of NTRS stock traded down $1.53 during trading hours on Friday, reaching $145.57. 1,222,277 shares of the stock traded hands, compared to its average volume of 819,693. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $27.53 billion, a PE ratio of 16.97, a PEG ratio of 1.22 and a beta of 1.27. Northern Trust has a 1-year low of $81.62 and a 1-year high of $148.98. The business has a fifty day moving average price of $136.15 and a 200 day moving average price of $131.25.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings data on Wednesday, October 22nd. The asset manager reported $2.29 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.03. Northern Trust had a net margin of 11.99% and a return on equity of 14.37%. The firm had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.02 billion. During the same period in the previous year, the company posted $2.22 EPS. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. On average, equities research analysts forecast that Northern Trust will post 8.27 EPS for the current year.

Northern Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 1st. Investors of record on Friday, December 5th were issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Friday, December 5th. Northern Trust’s dividend payout ratio (DPR) is currently 37.30%.

Northern Trust Company Profile

Northern Trust Corporation (NASDAQ: NTRS) is a global financial services firm headquartered in Chicago that provides asset servicing, asset management and wealth management solutions to institutions, corporations and high-net-worth individuals. The company’s core businesses include custody and fund administration, investment operations outsourcing, trust and fiduciary services, private banking, and retirement and defined contribution plan services.

Northern Trust’s product and service offerings span custody and fund accounting, portfolio and performance analytics, securities lending, cash management and foreign exchange, as well as discretionary and non-discretionary investment management.