Northern Trust Corporation to Issue Quarterly Dividend of $0.42 (NTRS)
Northern Trust Corporation (NASDAQ:NTRS) declared a quarterly dividend on Tuesday, October 17th, RTT News reports. Stockholders of record on Friday, December 1st will be given a dividend of 0.42 per share by the asset manager on Monday, January 1st. This represents a $1.68 annualized dividend and a dividend yield of 1.84%.
Northern Trust Corporation (NASDAQ:NTRS) traded down 0.89% on Tuesday, hitting $91.10. The stock had a trading volume of 2,755,848 shares. The company has a market capitalization of $20.81 billion, a price-to-earnings ratio of 20.68 and a beta of 0.93. Northern Trust Corporation has a 52 week low of $69.46 and a 52 week high of $99.30. The firm has a 50-day moving average of $90.23 and a 200 day moving average of $90.28.
Northern Trust Corporation (NASDAQ:NTRS) last posted its quarterly earnings data on Wednesday, July 19th. The asset manager reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.05). The firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.33 billion. Northern Trust Corporation had a net margin of 20.21% and a return on equity of 12.08%. The firm’s revenue was up .5% compared to the same quarter last year. During the same quarter last year, the company posted $1.09 EPS. On average, analysts predict that Northern Trust Corporation will post $4.69 earnings per share for the current year.
In related news, Chairman Frederick H. Waddell sold 100,000 shares of the stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $92.00, for a total transaction of $9,200,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Teresa Parker sold 11,399 shares of the stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $87.65, for a total value of $999,122.35. The disclosure for this sale can be found here. In the last ninety days, insiders sold 166,094 shares of company stock valued at $15,115,309. Corporate insiders own 1.27% of the company’s stock.
Northern Trust Corporation announced that its board has approved a share repurchase plan on Wednesday, June 28th that permits the company to buyback $750.00 million in shares. This buyback authorization permits 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 board believes its shares are undervalued.
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NTRS has been the subject of a number of research reports. Deutsche Bank AG reduced their price objective on Northern Trust Corporation from $103.00 to $93.00 and set a “hold” rating for the company in a research report on Thursday, July 20th. Zacks Investment Research cut Northern Trust Corporation from a “hold” rating to a “sell” rating in a research report on Monday, August 28th. Morgan Stanley reiterated an “underweight” rating and set a $86.00 price objective (up previously from $80.00) on shares of Northern Trust Corporation in a research report on Friday, July 7th. UBS AG upgraded Northern Trust Corporation from a “neutral” rating to a “buy” rating and upped their price objective for the company from $92.00 to $100.00 in a research report on Friday, September 8th. Finally, Bank of America Corporation reduced their price objective on Northern Trust Corporation from $106.00 to $97.00 and set a “buy” rating for the company in a research report on Thursday, July 20th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $95.93.
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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