Northern Trust Corporation (NTRS) Announces Quarterly Earnings Results
Northern Trust Corporation (NASDAQ:NTRS) issued its quarterly earnings data on Wednesday. The asset manager reported $1.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.12 by $0.08, RTT News reports. The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.35 billion. Northern Trust Corporation had a net margin of 20.21% and a return on equity of 12.08%. The business’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period last year, the business posted $1.11 earnings per share.
Northern Trust Corporation (NASDAQ NTRS) opened at 91.10 on Wednesday. The stock has a 50 day moving average price of $90.23 and a 200-day moving average price of $90.28. Northern Trust Corporation has a 12-month low of $69.46 and a 12-month high of $99.30. The stock has a market capitalization of $20.81 billion, a P/E ratio of 20.68 and a beta of 0.93.
The firm also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Investors of record on Friday, December 1st will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 1.84%. Northern Trust Corporation’s dividend payout ratio (DPR) is presently 38.18%.
Northern Trust Corporation declared that its board has approved a share repurchase program on Wednesday, June 28th that permits the company to repurchase $750.00 million in outstanding shares. This repurchase authorization permits the asset manager to repurchase up to 3.4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.
A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Northern Trust Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday. Citigroup Inc. reissued a “neutral” rating and issued a $92.00 price objective (up from $90.00) on shares of Northern Trust Corporation in a research note on Monday, October 9th. UBS AG raised shares of Northern Trust Corporation from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $92.00 to $100.00 in a research note on Friday, September 8th. Royal Bank Of Canada reissued a “buy” rating and issued a $97.00 price objective on shares of Northern Trust Corporation in a research note on Friday, August 18th. Finally, BidaskClub raised shares of Northern Trust Corporation from a “sell” rating to a “hold” rating in a research note on Friday, August 11th. Two investment analysts have 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. Northern Trust Corporation currently has an average rating of “Hold” and a consensus price target of $95.93.
In other Northern Trust Corporation news, EVP Aileen B. Blake sold 1,000 shares of the business’s stock in a transaction dated Friday, October 6th. The stock was sold at an average price of $94.00, for a total value of $94,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Frederick H. Waddell sold 100,000 shares of the business’s stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $92.00, for a total value of $9,200,000.00. The disclosure for this sale can be found here. Insiders sold 166,094 shares of company stock valued at $15,115,309 in the last ninety days. Insiders own 1.27% of the company’s stock.
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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