Insider Selling: Northern Trust Corporation (NTRS) EVP Sells 7,762 Shares of Stock
Northern Trust Corporation (NASDAQ:NTRS) EVP Aileen B. Blake sold 7,762 shares of the firm’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $88.45, for a total value of $686,548.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Shares of Northern Trust Corporation (NTRS) traded up 0.89% during mid-day trading on Wednesday, reaching $89.48. The company’s stock had a trading volume of 1,347,217 shares. Northern Trust Corporation has a 52 week low of $66.39 and a 52 week high of $99.30. The firm has a market capitalization of $20.44 billion, a PE ratio of 20.31 and a beta of 0.92. The firm has a 50-day moving average of $92.22 and a 200-day moving average of $89.36.
Northern Trust Corporation (NASDAQ:NTRS) last issued its earnings results on Wednesday, July 19th. The asset manager reported $1.18 earnings per share (EPS) for the quarter, missing the Zacks’ 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 in the prior year, the business earned $1.09 EPS. The business’s revenue was up .5% on a year-over-year basis. Equities research analysts forecast that Northern Trust Corporation will post $4.72 earnings per share for the current fiscal year.
Northern Trust Corporation declared that its Board of Directors has initiated a share buyback program on Wednesday, June 28th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the asset manager to buy up to 3.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 1st will be issued a $0.42 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $1.68 dividend on an annualized basis and a yield of 1.88%. This is a boost from Northern Trust Corporation’s previous quarterly dividend of $0.38. Northern Trust Corporation’s dividend payout ratio (DPR) is currently 34.55%.
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A number of institutional investors have recently modified their holdings of the company. BTIM Corp. boosted its position in shares of Northern Trust Corporation by 5.8% in the first quarter. BTIM Corp. now owns 457,774 shares of the asset manager’s stock worth $39,634,000 after buying an additional 25,231 shares in the last quarter. Personal Capital Advisors Corp boosted its position in shares of Northern Trust Corporation by 8.5% in the first quarter. Personal Capital Advisors Corp now owns 212,557 shares of the asset manager’s stock worth $18,305,000 after buying an additional 16,649 shares in the last quarter. Mn Services Vermogensbeheer B.V. boosted its position in shares of Northern Trust Corporation by 3.0% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 5,737 shares of the asset manager’s stock worth $464,000 after buying an additional 165 shares in the last quarter. Candriam Luxembourg S.C.A. boosted its position in shares of Northern Trust Corporation by 8.0% in the first quarter. Candriam Luxembourg S.C.A. now owns 48,859 shares of the asset manager’s stock worth $4,230,000 after buying an additional 3,618 shares in the last quarter. Finally, Nippon Life Insurance Co. acquired a new position in shares of Northern Trust Corporation during the first quarter worth about $1,280,000. 82.90% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have recently commented on NTRS. Buckingham Research restated a “neutral” rating and set a $103.00 price target (up from $93.00) on shares of Northern Trust Corporation in a research report on Monday, July 10th. BidaskClub upgraded Northern Trust Corporation from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 5th. Zacks Investment Research upgraded Northern Trust Corporation from a “hold” rating to a “buy” rating and set a $110.00 price target for the company in a research report on Wednesday, July 12th. Morgan Stanley restated an “underweight” rating and set a $86.00 price target (up from $80.00) on shares of Northern Trust Corporation in a research report on Friday, July 7th. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $97.00 target price on shares of Northern Trust Corporation in a report on Thursday, June 29th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus 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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