Northern Trust Co. Declares Quarterly Dividend of $0.75 (NASDAQ:NTRS)

Northern Trust Co. (NASDAQ:NTRSGet Free Report) announced a quarterly dividend on Wednesday, January 17th, Zacks reports. Investors of record on Friday, March 8th will be given a dividend of 0.75 per share by the asset manager on Monday, April 1st. This represents a $3.00 annualized dividend and a yield of 3.55%. The ex-dividend date of this dividend is Thursday, March 7th.

Northern Trust has raised its dividend payment by an average of 2.3% annually over the last three years. Northern Trust has a payout ratio of 44.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Northern Trust to earn $6.77 per share next year, which means the company should continue to be able to cover its $3.00 annual dividend with an expected future payout ratio of 44.3%.

Northern Trust Price Performance

Shares of NASDAQ:NTRS opened at $84.55 on Tuesday. The firm’s 50 day moving average is $81.67 and its two-hundred day moving average is $76.36. Northern Trust has a 52 week low of $62.44 and a 52 week high of $95.82. The firm has a market capitalization of $17.32 billion, a P/E ratio of 16.64, a PEG ratio of 1.73 and a beta of 1.12. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.62.

Northern Trust (NASDAQ:NTRSGet Free Report) last announced its quarterly earnings results on Thursday, January 18th. The asset manager reported $0.52 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.81). Northern Trust had a net margin of 9.14% and a return on equity of 12.44%. The firm had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the previous year, the business posted $1.65 EPS. Northern Trust’s revenue for the quarter was up 1.9% compared to the same quarter last year. Analysts anticipate that Northern Trust will post 6.29 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Barclays raised their price target on shares of Northern Trust from $90.00 to $98.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 2nd. Jefferies Financial Group upgraded shares of Northern Trust from a “hold” rating to a “buy” rating and increased their price objective for the company from $68.00 to $99.00 in a report on Tuesday, January 9th. Royal Bank of Canada increased their price objective on shares of Northern Trust from $82.00 to $86.00 and gave the company an “outperform” rating in a report on Friday, January 19th. TheStreet upgraded shares of Northern Trust from a “c+” rating to a “b-” rating in a report on Friday, January 12th. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $86.00 price objective (up from $82.00) on shares of Northern Trust in a report on Tuesday, January 30th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $83.04.

Read Our Latest Analysis on Northern Trust

Insider Buying and Selling

In related news, insider Steven L. Fradkin sold 30,392 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $80.11, for a total value of $2,434,703.12. Following the completion of the sale, the insider now owns 55,707 shares in the company, valued at approximately $4,462,687.77. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.63% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Northern Trust

Several hedge funds have recently made changes to their positions in the company. Vontobel Holding Ltd. lifted its position in Northern Trust by 2.4% in the 1st quarter. Vontobel Holding Ltd. now owns 5,921 shares of the asset manager’s stock worth $715,000 after buying an additional 140 shares in the last quarter. Allianz Asset Management GmbH lifted its position in Northern Trust by 26.4% in the 1st quarter. Allianz Asset Management GmbH now owns 12,985 shares of the asset manager’s stock worth $1,512,000 after buying an additional 2,716 shares in the last quarter. Prudential PLC purchased a new stake in Northern Trust in the 1st quarter worth approximately $548,000. Vanguard Group Inc. lifted its position in Northern Trust by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 22,711,584 shares of the asset manager’s stock worth $2,644,763,000 after buying an additional 457,748 shares in the last quarter. Finally, Zions Bancorporation N.A. lifted its position in Northern Trust by 271.7% in the 1st quarter. Zions Bancorporation N.A. now owns 918 shares of the asset manager’s stock worth $107,000 after buying an additional 671 shares in the last quarter. Hedge funds and other institutional investors own 81.64% of the company’s stock.

Northern Trust Company Profile

(Get Free Report)

Northern Trust Corporation, a financial holding company, provides wealth management, asset servicing, asset management, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates in two segments, Asset Servicing and Wealth Management. The Asset Servicing segment offers asset servicing and related services, including custody, fund administration, investment operations outsourcing, investment management, investment risk and analytical services, employee benefit services, securities lending, foreign exchange, treasury management, brokerage services, transition management services, banking, and cash management services.

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Dividend History for Northern Trust (NASDAQ:NTRS)

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