Trading Report: The Northern Trust Corp. (NTRS) to Release Earnings on Wednesday

The Northern Trust Corp. (NTRS) to Release Earnings on Wednesday

Northern Trust Corp. (NASDAQ:NTRS) is scheduled to be releasing its Q316 earnings data on Wednesday, October 19th. Analysts expect Northern Trust Corp. to post earnings of $1.08 per share and revenue of $1.24 billion for the quarter.

Northern Trust Corp. (NASDAQ:NTRS) opened at 70.27 on Tuesday. The company has a 50-day moving average of $69.61 and a 200 day moving average of $68.94. Northern Trust Corp. has a 12 month low of $54.38 and a 12 month high of $76.11. The company has a market cap of $15.92 billion, a PE ratio of 17.36 and a beta of 1.13.

The firm also recently declared a quarterly dividend, which was paid on Saturday, October 1st. Shareholders of record on Friday, September 2nd were paid a $0.38 dividend. The ex-dividend date was Wednesday, August 31st. This is an increase from Northern Trust Corp.’s previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a yield of 2.16%. Northern Trust Corp.’s payout ratio is currently 37.53%.

NTRS has been the subject of several recent research reports. Zacks Investment Research raised shares of Northern Trust Corp. from a “hold” rating to a “buy” rating and set a $78.00 price target for the company in a research note on Wednesday, October 5th. Jefferies Group restated a “hold” rating and issued a $77.00 price objective on shares of Northern Trust Corp. in a research report on Monday, October 10th. Credit Suisse Group AG set a $68.00 price objective on shares of Northern Trust Corp. and gave the company a “hold” rating in a research report on Wednesday, July 20th. Credit Agricole SA boosted their price objective on shares of Northern Trust Corp. from $70.00 to $73.00 and gave the company an “underperform” rating in a research report on Friday, September 23rd. Finally, Deutsche Bank AG boosted their price objective on shares of Northern Trust Corp. from $75.00 to $76.00 and gave the company a “hold” rating in a research report on Friday, September 9th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $72.27.

In other Northern Trust Corp. news, CFO Biff Bowman sold 2,960 shares of the company’s stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $70.00, for a total value of $207,200.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, President William L. Morrison sold 170,563 shares of the company’s stock in a transaction dated Friday, August 5th. The stock was 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. 1.90% of the stock is currently owned by company insiders.

Large investors have recently made changes to their positions in the company. FMR LLC boosted its stake in shares of Northern Trust Corp. by 13.8% in the second quarter. FMR LLC now owns 8,583,519 shares of the company’s stock worth $568,744,000 after buying an additional 1,041,052 shares during the period. American Century Companies Inc. increased its position in shares of Northern Trust Corp. by 6.4% in the second quarter. American Century Companies Inc. now owns 7,702,813 shares of the company’s stock valued at $510,388,000 after buying an additional 462,106 shares in the last quarter. Primecap Management Co. CA increased its position in shares of Northern Trust Corp. by 2.0% in the second quarter. Primecap Management Co. CA now owns 1,810,400 shares of the company’s stock valued at $119,957,000 after buying an additional 35,000 shares in the last quarter. BlackRock Group LTD increased its position in shares of Northern Trust Corp. by 1.6% in the second quarter. BlackRock Group LTD now owns 1,727,676 shares of the company’s stock valued at $114,476,000 after buying an additional 27,848 shares in the last quarter. Finally, Champlain Investment Partners LLC increased its position in shares of Northern Trust Corp. by 3.0% in the second quarter. Champlain Investment Partners LLC now owns 921,860 shares of the company’s stock valued at $61,082,000 after buying an additional 26,950 shares in the last quarter. Institutional investors and hedge funds own 81.68% of the company’s stock.

About Northern Trust Corp.

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