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 filing with the SEC, which is accessible through the SEC website.
Shares of Northern Trust Corporation (NASDAQ NTRS) opened at 89.24 on Thursday. The firm has a market cap of $20.39 billion, a P/E ratio of 20.26 and a beta of 0.92. The company has a 50-day moving average of $92.94 and a 200 day moving average of $89.19. Northern Trust Corporation has a 52-week low of $66.40 and a 52-week high of $99.30.
Northern Trust Corporation (NASDAQ:NTRS) last posted its quarterly earnings data on Wednesday, July 19th. The asset manager reported $1.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by $0.05. The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.33 billion. Northern Trust Corporation had a return on equity of 12.08% and a net margin of 20.21%. Northern Trust Corporation’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter last year, the company posted $1.09 EPS. On average, equities analysts expect that Northern Trust Corporation will post $4.72 earnings per share for the current year.
The company also recently disclosed 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. This is an increase from Northern Trust Corporation’s previous quarterly dividend of $0.38. 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%. Northern Trust Corporation’s dividend payout ratio is 34.55%.
Northern Trust Corporation declared that its board has initiated a share repurchase program on Wednesday, June 28th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the asset manager to reacquire up to 3.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.
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Several research analysts have issued reports on the stock. Wells Fargo & Company assumed coverage on shares of Northern Trust Corporation in a report on Wednesday. They set a “market perform” rating for the company. Zacks Investment Research raised shares of Northern Trust Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. BidaskClub downgraded shares of Northern Trust Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and set a $86.00 price objective (down previously from $91.00) on shares of Northern Trust Corporation in a research report on Saturday, July 22nd. Finally, Morgan Stanley reduced their price objective on shares of Northern Trust Corporation from $86.00 to $83.00 and set an “underweight” rating for the company in a research report on Thursday, July 20th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Northern Trust Corporation presently has an average rating of “Hold” and a consensus price target of $94.50.
A number of institutional investors have recently bought and sold shares of the company. Tdam USA Inc. increased its position in Northern Trust Corporation by 0.4% in the second quarter. Tdam USA Inc. now owns 2,629 shares of the asset manager’s stock worth $255,000 after buying an additional 10 shares during the period. Buckingham Asset Management LLC increased its position in Northern Trust Corporation by 0.3% in the first quarter. Buckingham Asset Management LLC now owns 6,232 shares of the asset manager’s stock worth $540,000 after buying an additional 20 shares during the period. Creative Planning increased its position in Northern Trust Corporation by 0.8% in the second quarter. Creative Planning now owns 2,374 shares of the asset manager’s stock worth $231,000 after buying an additional 20 shares during the period. Oppenheimer & Co. Inc. increased its position in Northern Trust Corporation by 0.8% in the first quarter. Oppenheimer & Co. Inc. now owns 2,821 shares of the asset manager’s stock worth $244,000 after buying an additional 21 shares during the period. Finally, Bank of The West increased its position in Northern Trust Corporation by 0.7% in the second quarter. Bank of The West now owns 3,506 shares of the asset manager’s stock worth $341,000 after buying an additional 26 shares during the period. Institutional investors and hedge funds own 83.48% of the company’s stock.
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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