Northern Trust Corp (NASDAQ:NTRS) President of Wealth Management, Steven L. Fradkin, has recently engaged in significant trading of the company's shares, according to a new SEC filing. On May 1, 2024, Fradkin sold 4,097 shares of Northern Trust stock at an average price of $82.56, totaling over $338,000.
The transactions were part of a series of buys and sells conducted on the same day. The sold shares were initially acquired through the exercise of options at a price of $58.25 per share, amounting to a total transaction value of $238,650 for the options exercised.
Following these transactions, Fradkin's direct holdings in Northern Trust have been adjusted to 46,078 shares, which includes stock units that are payable on a one-for-one basis in shares of the corporation's common stock. Additionally, it's noted that Fradkin has indirect holdings through various trusts and a 401(k) plan, which further diversify his investment in the company.
These recent trades by a high-ranking executive at Northern Trust provide investors with insight into the trading activities of the company's insiders, offering a glimpse into their confidence in the bank's stock performance and financial health.
InvestingPro Insights
Northern Trust Corp's (NASDAQ:NTRS) recent insider trading activity coincides with some notable financial metrics and analyst perspectives that may interest investors seeking a deeper understanding of the company's current position. According to real-time data from InvestingPro, Northern Trust has maintained a stable market capitalization of $17.31 billion and a Price/Earnings (P/E) ratio of 18.59, reflecting investor sentiment on the company's earnings potential.
InvestingPro Tips reveal that analysts have revised their earnings expectations upwards for the upcoming period, which could signal confidence in Northern Trust's financial outlook. Additionally, the company has demonstrated a strong commitment to shareholder returns, having maintained dividend payments for an impressive 54 consecutive years. This consistent dividend history is complemented by a current dividend yield of 3.59%, which may be particularly attractive to income-focused investors.
Despite concerns over weak gross profit margins, Northern Trust has been profitable over the last twelve months as of Q1 2024. This profitability is further supported by an operating income margin of 20.2%, showcasing the company's ability to manage its expenses effectively in relation to its revenues, which stood at $6674.7 million during the same period.
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