Susan Cohen Levy, Executive Vice President and General Counsel at Northern Trust Corp (NASDAQ:NTRS), recently sold a significant portion of her holdings in the company. According to a recent SEC filing, Levy sold 19,585 shares of Northern Trust common stock on October 25 at an average price of $102.26 per share, amounting to approximately $2,002,762.
Additionally, Levy exercised stock options to acquire the same number of shares at a price of $70.21 per share. Following these transactions, Levy holds 17,132 shares directly, with additional shares held indirectly through various trusts.
In other recent news, Northern Trust Corporation (NASDAQ:NTRS) has been the subject of several adjustments in stock price targets following its third-quarter earnings release. RBC Capital Markets, Evercore ISI, and BofA Securities have all increased their price targets for Northern Trust, citing the company's strong financial performance. The company reported a net income of $465 million and earnings per share of $2.22 for the third quarter, with assets under management reaching a record $444 billion, marking a 20% year-over-year increase.
Analysts at RBC Capital Markets and BofA Securities have both reaffirmed their positive ratings for Northern Trust, while Evercore ISI maintains an In-Line rating. These revisions are a response to the company's robust growth, strong net interest income dynamics, and successful efforts towards achieving positive fee operating leverage.
In the face of persistent expense issues, Northern Trust's management has been actively working to reduce expense growth. The company's efforts to enhance operational efficiency and strategic investments for future growth have been recognized by analysts.
These recent developments have led to a return of $453 million to shareholders through dividends and stock repurchases. BofA Securities and Evercore ISI have revised their EPS estimates for Northern Trust's fourth quarter 2024 and full-year 2025 to $1.92 and $7.58 respectively, reflecting the company's strong performance. These updates provide insights into the recent developments for Northern Trust.
InvestingPro Insights
Northern Trust Corp (NASDAQ:NTRS) has been showing strong performance recently, which aligns with Susan Cohen Levy's decision to exercise options and sell shares. According to InvestingPro data, the company's stock has seen impressive returns, with a 66.95% price total return over the past year and a 13.6% return in the last month. The stock is currently trading near its 52-week high, with a price that is 98.15% of its highest point in the past year.
These positive trends are supported by solid fundamentals. Northern Trust boasts a P/E ratio of 12.8, which is relatively low compared to its near-term earnings growth potential. This is highlighted by one of the InvestingPro Tips, which suggests that the company is trading at an attractive valuation relative to its expected earnings growth.
Furthermore, Northern Trust has demonstrated a commitment to shareholder value. The company has maintained dividend payments for 54 consecutive years, as noted in another InvestingPro Tip. With a current dividend yield of 2.93%, it continues to offer attractive income potential for investors.
For those interested in a deeper analysis, InvestingPro offers 11 additional tips for Northern Trust, providing a comprehensive view of the company's financial health and market position. These insights can be particularly valuable for investors looking to understand the context of insider transactions like Levy's recent sale.
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