Insider Selling: Biff Bowman Unloads 3,023 Shares of Northern Trust Stock (NTRS)
Northern Trust (NASDAQ:NTRS) EVP Biff Bowman sold 3,023 shares of the stock on the open market in a transaction dated Monday, August 25th. The stock was sold at an average price of $68.95, for a total value of $208,435.85. Following the sale, the executive vice president now directly owns 27,422 shares in the company, valued at approximately $1,890,747. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
A number of research firms have recently commented on NTRS. Analysts at JPMorgan Chase & Co. upgraded shares of Northern Trust from an “underweight” rating to a “neutral” rating in a research note on Friday, July 25th. They now have a $67.00 price target on the stock, up previously from $59.50. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Northern Trust in a research note on Thursday, July 17th. They now have a $68.00 price target on the stock. Finally, analysts at Barclays reiterated an “equal weight” rating on shares of Northern Trust in a research note on Thursday, July 17th. They now have a $68.00 price target on the stock, up previously from $66.00. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $65.67.
Northern Trust (NASDAQ:NTRS) traded up 0.05% during mid-day trading on Wednesday, hitting $68.97. The stock had a trading volume of 921,319 shares. Northern Trust has a 52 week low of $52.40 and a 52 week high of $69.16. The stock’s 50-day moving average is $66.32 and its 200-day moving average is $63.30. The company has a market cap of $16.248 billion and a price-to-earnings ratio of 22.68.
Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings results on Wednesday, July 16th. The company reported $0.87 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.84 by $0.03. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter last year, the company posted $0.78 earnings per share. Northern Trust’s revenue was up 6.0% compared to the same quarter last year. Analysts expect that Northern Trust will post $3.36 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, October 1st. Investors of record on Friday, September 5th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.91%. The ex-dividend date is Wednesday, September 3rd.
Northern Trust Corporation 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.
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