Northern Trust Corporation (NTRS) Insider Sells $1,233,866.48 in Stock
Northern Trust Corporation (NASDAQ:NTRS) insider Clair Joyce St sold 13,814 shares of Northern Trust Corporation stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $89.32, for a total transaction of $1,233,866.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Northern Trust Corporation (NTRS) opened at 89.73 on Friday. Northern Trust Corporation has a 12 month low of $66.40 and a 12 month high of $99.30. The firm has a 50-day moving average of $90.47 and a 200-day moving average of $89.58. The company has a market capitalization of $20.50 billion, a P/E ratio of 20.37 and a beta of 0.92.
Northern Trust Corporation (NASDAQ:NTRS) last posted its quarterly earnings data on Wednesday, July 19th. The asset manager reported $1.18 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.23 by $0.05. Northern Trust Corporation had a net margin of 20.21% and a return on equity of 12.08%. The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.33 billion. During the same quarter last year, the company earned $1.09 EPS. The business’s revenue was up .5% compared to the same quarter last year. On average, equities analysts predict that Northern Trust Corporation will post $4.72 earnings per share for the current year.
Northern Trust Corporation declared that its board has initiated a stock buyback plan on Wednesday, June 28th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the asset manager to reacquire up to 3.4% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Friday, September 1st will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $1.68 annualized dividend and a dividend yield of 1.87%. This is an increase from Northern Trust Corporation’s previous quarterly dividend of $0.38. Northern Trust Corporation’s dividend payout ratio is 34.55%.
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Institutional investors have recently bought and sold shares of the stock. Kings Point Capital Management bought a new position in Northern Trust Corporation during the first quarter valued at about $101,000. Salem Investment Counselors Inc. increased its position in Northern Trust Corporation by 8.3% in the second quarter. Salem Investment Counselors Inc. now owns 1,083 shares of the asset manager’s stock valued at $105,000 after buying an additional 83 shares during the period. Huntington National Bank increased its position in Northern Trust Corporation by 54.0% in the second quarter. Huntington National Bank now owns 1,089 shares of the asset manager’s stock valued at $106,000 after buying an additional 382 shares during the period. Dupont Capital Management Corp bought a new position in Northern Trust Corporation during the second quarter valued at about $107,000. Finally, Advisory Services Network LLC bought a new position in Northern Trust Corporation during the first quarter valued at about $117,000. Hedge funds and other institutional investors own 82.90% of the company’s stock.
Several equities research analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Northern Trust Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday. Royal Bank Of Canada reissued a “buy” rating and set a $97.00 target price on shares of Northern Trust Corporation in a research report on Friday, August 18th. BidaskClub raised shares of Northern Trust Corporation from a “sell” rating to a “hold” rating in a research report on Friday, August 11th. Wells Fargo & Company began coverage on shares of Northern Trust Corporation in a research report on Wednesday, August 9th. They set a “market perform” rating and a $90.00 target price for the company. Finally, Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and set a $86.00 target price (down from $91.00) on shares of Northern Trust Corporation in a research report on Saturday, July 22nd. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $94.15.
Northern Trust Corporation Company Profile
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 across the world. Its segments include Corporate & Institutional Services (C&IS), Wealth Management, and Treasury and Other.
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