Teresa Parker, President of Asset Servicing at Northern Trust Corp (NASDAQ:NTRS), recently sold 4,439 shares of the company's common stock. The shares were sold at a weighted average price ranging from $100.59 to $101.02, totaling $447,717. Following this transaction, Parker holds 79,326 shares directly. Additionally, she has an indirect ownership of 10,171.37 shares through a 401(k) plan as of September 30, 2024.
In other recent news, Northern Trust Corporation (NASDAQ:NTRS) has been the focus of several analyst firms following its third quarter results. RBC Capital Markets raised its price target for the company to $107, maintaining an Outperform rating. The firm cited Northern Trust's strong performance over various market cycles and its ability to overcome challenges, including persistent expense issues.
Evercore ISI and BofA Securities also revised their price targets for Northern Trust to $103 and $115 respectively, reflecting the company's robust earnings performance. The company reported net income of $465 million and earnings per share of $2.22 for the third quarter, with contributing factors including a rise in Trust fees, particularly in Wealth Management, and assets under management reaching a record $444 billion.
These recent developments have resulted in 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. These adjustments follow Northern Trust's reported earnings, which surpassed expectations, and the company's focus on achieving positive fee operating leverage.
InvestingPro Insights
As Teresa Parker's recent stock sale catches attention, it's worth examining Northern Trust Corp's (NASDAQ:NTRS) financial health and market position. According to InvestingPro data, Northern Trust boasts a market capitalization of $20.33 billion and trades at a P/E ratio of 12.8, suggesting a relatively attractive valuation compared to its peers.
InvestingPro Tips highlight Northern Trust's strong financial performance and shareholder-friendly policies. The company has maintained dividend payments for an impressive 54 consecutive years, demonstrating a commitment to returning value to shareholders. This consistency aligns with the high shareholder yield noted by InvestingPro.
Moreover, Northern Trust's stock has shown robust performance, with a 66.95% total return over the past year. The company is currently trading near its 52-week high, with its price at 98.15% of the peak, indicating strong investor confidence.
Despite Parker's recent share sale, the company's fundamentals appear solid. Northern Trust's revenue growth of 16.78% over the last twelve months and an operating income margin of 28.61% suggest a healthy business model. Additionally, analysts have revised their earnings expectations upwards for the upcoming period, pointing to potential future growth.
For investors seeking more comprehensive analysis, InvestingPro offers 11 additional tips for Northern Trust, providing a deeper understanding of the company's prospects and challenges.
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