Insider Selling: Northern Trust Corp. CEO Sells 75,000 Shares of Stock (NTRS)
Northern Trust Corp. (NASDAQ:NTRS) CEO Frederick H. Waddell sold 75,000 shares of the company’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $61.66, for a total value of $4,624,500.00. Following the completion of the sale, the chief executive officer now directly owns 120 shares of the company’s stock, valued at approximately $7,399. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Northern Trust Corp. (NASDAQ:NTRS) traded down 0.95% during mid-day trading on Monday, hitting $60.55. 1,435,565 shares of the company’s stock traded hands. Northern Trust Corp. has a 52 week low of $51.18 and a 52 week high of $63.00. The stock has a 50-day moving average of $60.42 and a 200-day moving average of $57.6. The company has a market cap of $14.370 billion and a P/E ratio of 20.44.
Northern Trust Corp. (NASDAQ:NTRS) last posted its quarterly earnings results on Wednesday, January 22nd. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.25. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the previous year, the company posted $0.69 earnings per share. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. Analysts expect that Northern Trust Corp. will post $3.45 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, April 1st. Stockholders of record on Friday, March 7th will be paid a dividend of 0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 2.05%. The ex-dividend date is Wednesday, March 5th.
Several analysts have recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Northern Trust Corp. in a research note to investors on Thursday. They now have a $66.00 price target on the stock. Separately, analysts at Morgan Stanley reiterated an “underweight” rating on shares of Northern Trust Corp. in a research note to investors on Thursday. They now have a $66.00 price target on the stock, up previously from $63.00. Finally, analysts at RBC Capital raised their price target on shares of Northern Trust Corp. from $54.00 to $64.00 in a research note to investors on Thursday. They now have a “sector perform” rating on the stock. Five equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $62.42.
Northern Trust Corporation (NASDAQ:NTRS) is a financial holding company that is a provider of asset servicing, fund administration, asset management, fiduciary and banking solutions for corporations, institutions, families and individuals worldwide.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.