Biff Bowman Sells 25,899 Shares of Northern Trust Corp. (NTRS) Stock
Northern Trust Corp. (NASDAQ:NTRS) CFO Biff Bowman sold 25,899 shares of the firm’s stock in a transaction on Wednesday, November 16th. The stock was sold at an average price of $81.26, for a total value of $2,104,552.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Biff Bowman also recently made the following trade(s):
- On Monday, November 7th, Biff Bowman sold 7,371 shares of Northern Trust Corp. stock. The stock was sold at an average price of $74.00, for a total value of $545,454.00.
- On Wednesday, September 7th, Biff Bowman sold 2,960 shares of Northern Trust Corp. stock. The stock was sold at an average price of $70.00, for a total value of $207,200.00.
Northern Trust Corp. (NASDAQ:NTRS) opened at 81.50 on Friday. The company has a 50 day moving average price of $73.02 and a 200-day moving average price of $69.95. Northern Trust Corp. has a 1-year low of $54.38 and a 1-year high of $83.09. The firm has a market capitalization of $18.45 billion, a price-to-earnings ratio of 19.42 and a beta of 1.02.
Northern Trust Corp. (NASDAQ:NTRS) last released its quarterly earnings data on Wednesday, October 19th. The company reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.09 by $0.01. Northern Trust Corp. had a net margin of 19.58% and a return on equity of 11.55%. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the previous year, the firm posted $0.96 earnings per share. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. On average, analysts forecast that Northern Trust Corp. will post $4.29 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, January 1st. Investors of record on Friday, December 2nd will be paid a dividend of $0.38 per share. The ex-dividend date is Wednesday, November 30th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.87%. Northern Trust Corp.’s payout ratio is 36.45%.
Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Northern Trust Corp. by 1.5% in the second quarter. Vanguard Group Inc. now owns 12,804,278 shares of the company’s stock worth $848,412,000 after buying an additional 187,195 shares during the last quarter. FMR LLC raised its stake in 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 last quarter. JPMorgan Chase & Co. raised its stake in Northern Trust Corp. by 8.9% in the third quarter. JPMorgan Chase & Co. now owns 8,427,802 shares of the company’s stock worth $573,006,000 after buying an additional 688,812 shares during the last quarter. American Century Companies Inc. raised its stake in 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 last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its stake in Northern Trust Corp. by 1.3% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 5,489,309 shares of the company’s stock worth $373,218,000 after buying an additional 68,344 shares during the last quarter. Institutional investors own 82.48% of the company’s stock.
A number of research analysts recently commented on the company. Zacks Investment Research upgraded Northern Trust Corp. from a “hold” rating to a “buy” rating and set a $78.00 price target on the stock in a research report on Wednesday, October 5th. Jefferies Group restated a “hold” rating and issued a $71.00 price target (up previously from $68.00) on shares of Northern Trust Corp. in a research report on Sunday, July 24th. Deutsche Bank AG raised their price target on Northern Trust Corp. from $75.00 to $76.00 and gave the stock a “hold” rating in a research report on Friday, September 9th. Finally, Credit Agricole SA raised their price objective on Northern Trust Corp. from $70.00 to $73.00 and gave the company an “underperform” rating in a research note on Friday, September 23rd. One 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 company. The stock presently has a consensus rating of “Hold” and an average target price of $73.42.
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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