Insider Selling: Northern Trust Corporation (NTRS) Insider Sells 7,665 Shares of Stock
Northern Trust Corporation (NASDAQ:NTRS) insider Clair Joyce St sold 7,665 shares of Northern Trust Corporation stock in a transaction that occurred on Wednesday, October 18th. The shares were sold at an average price of $95.00, for a total value of $728,175.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Clair Joyce St also recently made the following trade(s):
- On Wednesday, August 23rd, Clair Joyce St sold 13,814 shares of Northern Trust Corporation stock. The shares were sold at an average price of $89.32, for a total value of $1,233,866.48.
Northern Trust Corporation (NASDAQ NTRS) traded up 0.31% on Friday, reaching $95.27. 1,579,078 shares of the company traded hands. Northern Trust Corporation has a 52-week low of $69.92 and a 52-week high of $99.30. The company has a market capitalization of $21.77 billion, a PE ratio of 21.63 and a beta of 0.93. The stock has a 50-day moving average of $90.71 and a 200 day moving average of $90.41.
Northern Trust Corporation (NASDAQ:NTRS) last released its quarterly earnings results on Wednesday, October 18th. The asset manager reported $1.20 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.12 by $0.08. 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 20.27% and a return on equity of 12.33%. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.11 earnings per share. On average, equities analysts forecast that Northern Trust Corporation will post $4.70 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 1st. Stockholders of record on Friday, December 1st will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend is Thursday, November 30th. Northern Trust Corporation’s payout ratio is currently 37.17%.
Northern Trust Corporation declared that its board has initiated a stock buyback plan on Wednesday, June 28th that allows the company to buyback $750.00 million in shares. This buyback authorization allows the asset manager to reacquire up to 3.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.
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NTRS has been the topic of a number of recent research reports. Wells Fargo & Co initiated coverage on Northern Trust Corporation in a report on Wednesday, August 9th. They set a “market perform” rating and a $90.00 price objective on the stock. BidaskClub downgraded Northern Trust Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Zacks Investment Research raised Northern Trust Corporation from a “hold” rating to a “buy” rating and set a $110.00 price objective on the stock in a report on Wednesday, July 12th. Buckingham Research reaffirmed a “neutral” rating and set a $103.00 price objective (up from $93.00) on shares of Northern Trust Corporation in a report on Monday, July 10th. Finally, UBS AG lifted their price objective on Northern Trust Corporation from $100.00 to $109.00 and gave the company a “buy” rating in a report on Thursday. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $97.07.
Several hedge funds have recently added to or reduced their stakes in NTRS. Salem Investment Counselors Inc. raised its stake in shares of Northern Trust Corporation by 8.3% during the second quarter. Salem Investment Counselors Inc. now owns 1,083 shares of the asset manager’s stock valued at $105,000 after acquiring an additional 83 shares during the last quarter. Huntington National Bank raised its stake in shares of Northern Trust Corporation by 54.0% during the second quarter. Huntington National Bank now owns 1,089 shares of the asset manager’s stock valued at $106,000 after acquiring an additional 382 shares during the last quarter. Dupont Capital Management Corp bought a new position in shares of Northern Trust Corporation during the second quarter valued at $107,000. MPS Loria Financial Planners LLC bought a new position in shares of Northern Trust Corporation during the second quarter valued at $134,000. Finally, Bessemer Group Inc. raised its stake in shares of Northern Trust Corporation by 16.9% during the second quarter. Bessemer Group Inc. now owns 1,461 shares of the asset manager’s stock valued at $143,000 after acquiring an additional 211 shares during the last quarter. 81.89% of the stock is owned by hedge funds and other institutional investors.
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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