Northern Trust Corporation (NASDAQ:NTRS) COO Jana R. Schreuder sold 5,538 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $88.33, for a total transaction of $489,171.54. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.
Northern Trust Corporation (NASDAQ:NTRS) traded up 0.57% during trading on Friday, hitting $87.93. 1,149,151 shares of the stock were exchanged. The stock has a market cap of $20.09 billion, a price-to-earnings ratio of 19.96 and a beta of 0.92. Northern Trust Corporation has a 1-year low of $66.40 and a 1-year high of $99.30. The firm’s 50 day moving average price is $91.52 and its 200-day moving average price is $89.38.
Northern Trust Corporation (NASDAQ:NTRS) last released its quarterly earnings data on Wednesday, July 19th. The asset manager reported $1.18 EPS for the quarter, missing the consensus estimate of $1.23 by $0.05. The company had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.33 billion. Northern Trust Corporation had a net margin of 20.21% and a return on equity of 12.08%. The company’s quarterly revenue was up .5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.09 EPS. On average, analysts anticipate that Northern Trust Corporation will post $4.72 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Friday, September 1st will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 1.91%. The ex-dividend date is Wednesday, August 30th. This is an increase from Northern Trust Corporation’s previous quarterly dividend of $0.38. Northern Trust Corporation’s dividend payout ratio is presently 34.55%.
Northern Trust Corporation announced that its board has approved a stock repurchase plan on Wednesday, June 28th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the asset manager to reacquire up to 3.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.
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Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Northern Trust Corporation by 2.6% in the second quarter. Vanguard Group Inc. now owns 14,255,623 shares of the asset manager’s stock worth $1,385,789,000 after buying an additional 363,691 shares during the period. BlackRock Inc. boosted its stake in Northern Trust Corporation by 0.3% in the second quarter. BlackRock Inc. now owns 13,318,550 shares of the asset manager’s stock worth $1,294,697,000 after buying an additional 38,780 shares during the period. Northern Trust Corp boosted its stake in Northern Trust Corporation by 1.5% in the second quarter. Northern Trust Corp now owns 12,414,424 shares of the asset manager’s stock worth $1,206,806,000 after buying an additional 184,112 shares during the period. FMR LLC boosted its stake in Northern Trust Corporation by 38.4% in the first quarter. FMR LLC now owns 12,370,754 shares of the asset manager’s stock worth $1,071,060,000 after buying an additional 3,430,332 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in Northern Trust Corporation by 0.8% in the first quarter. JPMorgan Chase & Co. now owns 8,226,919 shares of the asset manager’s stock worth $712,287,000 after buying an additional 68,263 shares during the period. 82.90% of the stock is owned by institutional investors.
Several research firms recently commented on NTRS. BidaskClub upgraded shares of Northern Trust Corporation from a “sell” rating to a “hold” rating in a report on Friday, August 11th. Royal Bank Of Canada restated a “buy” rating and set a $97.00 price target on shares of Northern Trust Corporation in a report on Thursday, June 29th. Jefferies Group LLC restated a “buy” rating and set a $102.00 price target on shares of Northern Trust Corporation in a report on Wednesday, May 17th. 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 report on Monday, July 10th. Finally, Zacks Investment Research lowered shares of Northern Trust Corporation from a “buy” rating to a “hold” rating in a research report on Friday, July 21st. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $94.15.
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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