Insider Selling: Northern Trust Corp. (NTRS) Insider Sells 21,541 Shares of Stock
Northern Trust Corp. (NASDAQ:NTRS) insider Wilson Leech sold 21,541 shares of Northern Trust Corp. stock in a transaction dated Monday, November 28th. The shares were sold at an average price of $77.01, for a total transaction of $1,658,872.41. The sale was disclosed in a document filed with the SEC, which is available at this link.
Northern Trust Corp. (NASDAQ:NTRS) traded down 1.90% during midday trading on Monday, hitting $80.59. 1,326,914 shares of the company were exchanged. Northern Trust Corp. has a one year low of $54.38 and a one year high of $83.09. The stock has a market capitalization of $18.25 billion, a PE ratio of 19.20 and a beta of 1.02. The firm’s 50-day moving average price is $75.14 and its 200-day moving average price is $70.47.
Northern Trust Corp. (NASDAQ:NTRS) last released its quarterly earnings results on Wednesday, October 19th. The company reported $1.08 EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $1.25 billion. During the same period in the prior year, the business posted $0.96 earnings per share. Northern Trust Corp.’s revenue was up 5.1% compared to the same quarter last year. Equities research analysts anticipate that Northern Trust Corp. will post $4.28 earnings per share for the current 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 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 yield of 1.89%. Northern Trust Corp.’s payout ratio is 36.45%.
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NTRS has been the topic of several recent research reports. Zacks Investment Research upgraded shares of Northern Trust Corp. from a “hold” rating to a “buy” rating and set a $78.00 target price on the stock in a research report on Wednesday, October 5th. Jefferies Group reiterated a “hold” rating and set a $77.00 target price on shares of Northern Trust Corp. in a research report on Monday, October 10th. Deutsche Bank AG lifted their target price on shares of Northern Trust Corp. from $75.00 to $76.00 and gave the company a “hold” rating in a research report on Friday, September 9th. Credit Suisse Group AG initiated coverage on shares of Northern Trust Corp. in a research report on Tuesday, November 22nd. They set a “neutral” rating and a $71.00 target price on the stock. Finally, lifted their target price on shares of Northern Trust Corp. from $70.00 to $73.00 and gave the company an “underperform” rating in a research report on Friday, September 23rd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has issued a strong buy rating to the company. Northern Trust Corp. currently has an average rating of “Hold” and an average price target of $73.65.
A number of large investors have recently made changes to their positions in the company. Bank of Montreal Can purchased a new stake in shares of Northern Trust Corp. during the second quarter worth about $36,022,000. Nuance Investments LLC increased its stake in shares of Northern Trust Corp. by 5.6% in the second quarter. Nuance Investments LLC now owns 641,461 shares of the company’s stock worth $42,503,000 after buying an additional 34,261 shares during the last quarter. British Columbia Investment Management Corp increased its stake in shares of Northern Trust Corp. by 5.1% in the third quarter. British Columbia Investment Management Corp now owns 165,787 shares of the company’s stock worth $11,272,000 after buying an additional 7,993 shares during the last quarter. Confluence Investment Management LLC increased its stake in shares of Northern Trust Corp. by 9.6% in the second quarter. Confluence Investment Management LLC now owns 894,711 shares of the company’s stock worth $59,284,000 after buying an additional 78,216 shares during the last quarter. Finally, HL Financial Services LLC increased its stake in shares of Northern Trust Corp. by 3.1% in the second quarter. HL Financial Services LLC now owns 638,250 shares of the company’s stock worth $42,290,000 after buying an additional 18,903 shares during the last quarter. Hedge funds and other institutional investors own 79.70% of the company’s stock.
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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