Stephen N. Potter Sells 71,239 Shares of Northern Trust Corp. (NTRS) Stock
Northern Trust Corp. (NASDAQ:NTRS) insider Stephen N. Potter sold 71,239 shares of Northern Trust Corp. stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $81.04, for a total value of $5,773,208.56. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
Northern Trust Corp. (NASDAQ:NTRS) opened at 82.97 on Wednesday. Northern Trust Corp. has a 12-month low of $54.38 and a 12-month high of $83.09. The company’s 50 day moving average price is $72.25 and its 200-day moving average price is $69.79. The firm has a market capitalization of $18.79 billion, a price-to-earnings ratio of 19.77 and a beta of 1.02.
Northern Trust Corp. (NASDAQ:NTRS) last released its earnings results on Wednesday, October 19th. The company reported $1.08 EPS for the quarter, missing the consensus estimate of $1.09 by $0.01. Northern Trust Corp. had a return on equity of 11.55% and a net margin of 19.58%. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same period in the prior year, the business earned $0.96 EPS. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. On average, equities analysts anticipate that Northern Trust Corp. will post $4.29 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, January 1st. Shareholders of record on Friday, December 2nd will be paid a $0.38 dividend. The ex-dividend date is Wednesday, November 30th. This represents a $1.52 dividend on an annualized basis and a yield of 1.83%. Northern Trust Corp.’s dividend payout ratio (DPR) is presently 36.45%.
A number of large investors have recently made changes to their positions in NTRS. PNC Financial Services Group Inc. boosted its stake in shares of Northern Trust Corp. by 651.4% in the second quarter. PNC Financial Services Group Inc. now owns 1,493,608 shares of the company’s stock worth $98,966,000 after buying an additional 1,294,825 shares during the period. FMR LLC boosted its stake in shares of Northern Trust Corp. by 13.8% in the second quarter. FMR LLC now owns 8,583,519 shares of the company’s stock worth $568,744,000 after buying an additional 1,041,052 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Northern Trust Corp. by 11.0% in the second quarter. JPMorgan Chase & Co. now owns 7,738,990 shares of the company’s stock worth $512,786,000 after buying an additional 768,081 shares during the period. Bank of Montreal Can purchased a new stake in shares of Northern Trust Corp. during the second quarter worth approximately $36,022,000. Finally, American Century Companies Inc. boosted its stake in shares of Northern Trust Corp. by 6.4% in the second quarter. American Century Companies Inc. now owns 7,702,813 shares of the company’s stock worth $510,388,000 after buying an additional 462,106 shares during the period. 82.48% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently weighed in on NTRS. Credit Suisse Group AG set a $68.00 price objective on Northern Trust Corp. and gave the company a “hold” rating in a report on Wednesday, July 20th. Zacks Investment Research upgraded Northern Trust Corp. from a “hold” rating to a “buy” rating and set a $78.00 price objective on the stock in a report on Wednesday, October 5th. Jefferies Group reiterated a “hold” rating and set a $71.00 price objective (up previously from $68.00) on shares of Northern Trust Corp. in a report on Sunday, July 24th. Deutsche Bank AG lifted their price objective on Northern Trust Corp. from $75.00 to $76.00 and gave the company a “hold” rating in a report on Friday, September 9th. Finally, Credit Agricole SA lifted their price objective on Northern Trust Corp. from $70.00 to $73.00 and gave the company an “underperform” rating in a report on Friday, September 23rd. One research analyst has rated the stock with a sell rating, ten have given a hold rating and one has issued a strong buy rating to the stock. Northern Trust Corp. currently has a consensus rating of “Hold” and an average target price of $72.35.
About Northern Trust Corp.
Northern Trust Corporation is a financial holding company. The Company provides asset servicing, fund administration, asset management, fiduciary and banking solutions for corporations, institutions, families and individuals around the world. The Company’s segments include Corporate & Institutional Services (C&IS), Wealth Management, and Treasury and Other.
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