Insider Selling: Northern Trust Corporation (NTRS) Insider Sells $736,000.00 in Stock
Northern Trust Corporation (NASDAQ:NTRS) insider Teresa Parker sold 8,000 shares of the business’s stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $92.00, for a total value of $736,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
Teresa Parker also recently made the following trade(s):
- On Friday, July 21st, Teresa Parker sold 11,399 shares of Northern Trust Corporation stock. The stock was sold at an average price of $87.65, for a total value of $999,122.35.
Northern Trust Corporation (NTRS) opened at 91.93 on Friday. The firm has a 50-day moving average price of $88.43 and a 200-day moving average price of $89.76. Northern Trust Corporation has a 1-year low of $66.40 and a 1-year high of $99.30. The firm has a market capitalization of $21.00 billion, a PE ratio of 20.87 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 for the quarter, missing the Thomson Reuters’ consensus estimate of $1.23 by ($0.05). Northern Trust Corporation had a return on equity of 12.08% and a net margin of 20.21%. The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same period last year, the business posted $1.09 earnings per share. The business’s revenue was up .5% on a year-over-year basis. Equities analysts expect that Northern Trust Corporation will post $4.71 earnings per share for the current fiscal year.
Northern Trust Corporation announced that its Board of Directors has approved a share repurchase plan on Wednesday, June 28th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the asset manager to repurchase up to 3.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Friday, September 1st will be given a $0.42 dividend. The ex-dividend date is Wednesday, August 30th. This is a positive change from Northern Trust Corporation’s previous quarterly dividend of $0.38. This represents a $1.68 annualized dividend and a dividend yield of 1.83%. Northern Trust Corporation’s dividend payout ratio (DPR) is 38.18%.
A number of institutional investors have recently modified their holdings of the stock. Tdam USA Inc. increased its position in Northern Trust Corporation by 0.4% in the 2nd quarter. Tdam USA Inc. now owns 2,629 shares of the asset manager’s stock valued at $255,000 after buying an additional 10 shares in the last quarter. Creative Planning increased its position in Northern Trust Corporation by 0.8% in the 2nd quarter. Creative Planning now owns 2,374 shares of the asset manager’s stock valued at $231,000 after buying an additional 20 shares in the last quarter. Oppenheimer & Co. Inc. increased its position in Northern Trust Corporation by 0.8% in the 1st quarter. Oppenheimer & Co. Inc. now owns 2,821 shares of the asset manager’s stock valued at $244,000 after buying an additional 21 shares in the last quarter. Bank of The West increased its position in Northern Trust Corporation by 0.7% in the 2nd quarter. Bank of The West now owns 3,506 shares of the asset manager’s stock valued at $341,000 after buying an additional 26 shares in the last quarter. Finally, Wetherby Asset Management Inc. increased its position in Northern Trust Corporation by 0.5% in the 2nd quarter. Wetherby Asset Management Inc. now owns 5,867 shares of the asset manager’s stock valued at $570,000 after buying an additional 27 shares in the last quarter. 81.90% of the stock is owned by institutional investors and hedge funds.
NTRS has been the subject of a number of recent research reports. Zacks Investment Research downgraded Northern Trust Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, June 6th. BidaskClub upgraded Northern Trust Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, June 14th. Royal Bank Of Canada reiterated a “buy” rating and issued a $97.00 price objective on shares of Northern Trust Corporation in a report on Thursday, June 29th. Morgan Stanley reiterated an “underweight” rating and issued a $86.00 price objective (up previously from $80.00) on shares of Northern Trust Corporation in a report on Friday, July 7th. Finally, Buckingham Research reiterated a “neutral” rating and issued a $103.00 price objective (up previously from $93.00) on shares of Northern Trust Corporation in a report on Monday, July 10th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $96.23.
About Northern Trust Corporation
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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