Northern Trust Corp. (NTRS) Sees Large Volume Increase
Northern Trust Corp. (NASDAQ:NTRS) saw an uptick in trading volume on Wednesday . 993,820 shares traded hands during mid-day trading, an increase of 28% from the previous session’s volume of 777,758 shares.The stock last traded at $70.28 and had previously closed at $70.82.
Several research firms have recently commented on NTRS. Zacks Investment Research raised shares of Northern Trust Corp. from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a research report on Tuesday, May 3rd. Deutsche Bank AG reaffirmed a “hold” rating on shares of Northern Trust Corp. in a research report on Sunday, June 26th. Barclays PLC reaffirmed a “hold” rating on shares of Northern Trust Corp. in a research report on Saturday, July 9th. Goldman Sachs Group Inc. lowered shares of Northern Trust Corp. from a “buy” rating to a “neutral” rating and reduced their price target for the company from $82.00 to $71.00 in a research report on Thursday, July 7th. Finally, Jefferies Group reaffirmed a “hold” rating and set a $71.00 price target (up previously from $68.00) on shares of Northern Trust Corp. in a research report on Sunday, July 24th. Eleven analysts have rated the stock with a hold rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $71.46.
The firm has a market capitalization of $15.99 billion and a price-to-earnings ratio of 17.44. The company has a 50-day moving average of $68.05 and a 200-day moving average of $67.49.
Northern Trust Corp. (NASDAQ:NTRS) last posted its earnings results on Wednesday, July 20th. The company reported $1.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.03. The company earned $1.32 billion during the quarter, compared to analyst estimates of $1.22 billion. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter last year, the business posted $1.01 EPS. Analysts forecast that Northern Trust Corp. will post $4.23 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, October 1st. Shareholders of record on Friday, September 2nd will be paid a $0.38 dividend. The ex-dividend date is Wednesday, August 31st. This represents a $1.52 annualized dividend and a dividend yield of 2.15%. This is a boost from Northern Trust Corp.’s previous quarterly dividend of $0.36.
In related news, insider Clair Joyce St sold 50,010 shares of the business’s stock in a transaction on Monday, August 29th. The shares were sold at an average price of $70.04, for a total value of $3,502,700.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President William L. Morrison sold 170,563 shares of the business’s stock in a transaction on Friday, August 5th. The shares were sold at an average price of $67.36, for a total transaction of $11,489,123.68. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Northern Trust Corp. stock. BlackRock Advisors LLC increased its position in shares of Northern Trust Corp. (NASDAQ:NTRS) by 78.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 205,514 shares of the company’s stock after buying an additional 90,494 shares during the period. BlackRock Advisors LLC owned about 0.09% of Northern Trust Corp. worth $14,816,000 as of its most recent SEC filing.
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 around the world. The Company’s segments include Corporate & Institutional Services (C&IS), Wealth Management, and Treasury and Other.
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