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

Northern Trust Co. (NASDAQ:NTRS) announced a quarterly dividend on Tuesday, October 22nd, Zacks reports. Stockholders of record on Friday, December 6th will be given a dividend of 0.75 per share by the asset manager on Wednesday, January 1st. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date is Friday, December 6th.

Northern Trust has raised its dividend by an average of 2.3% annually over the last three years. Northern Trust has a payout ratio of 42.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Northern Trust to earn $7.29 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 41.2%.

Northern Trust Stock Performance

Northern Trust stock opened at $102.51 on Thursday. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The firm has a 50-day moving average of $90.51 and a 200-day moving average of $86.53. The firm has a market cap of $20.97 billion, a P/E ratio of 22.63, a P/E/G ratio of 1.44 and a beta of 1.08. Northern Trust has a 1-year low of $62.44 and a 1-year high of $104.25.

Analyst Upgrades and Downgrades

Several analysts have commented on NTRS shares. Keefe, Bruyette & Woods lowered their price objective on shares of Northern Trust from $92.00 to $85.00 and set a “market perform” rating for the company in a report on Thursday, June 27th. UBS Group raised their price objective on shares of Northern Trust from $86.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, October 8th. Morgan Stanley raised their price objective on shares of Northern Trust from $93.00 to $97.00 and gave the stock an “underweight” rating in a report on Monday, September 30th. Royal Bank of Canada raised their price objective on shares of Northern Trust from $86.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Northern Trust from $84.00 to $94.00 and gave the stock a “hold” rating in a report on Monday, September 23rd. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Northern Trust currently has a consensus rating of “Hold” and a consensus price target of $92.18.

Insider Activity at Northern Trust

In related news, Director Charles A. Tribbett sold 1,855 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $88.12, for a total transaction of $163,462.60. Following the completion of the sale, the director now owns 1,000 shares of the company’s stock, valued at $88,120. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Teresa Parker sold 5,883 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $84.06, for a total transaction of $494,524.98. Following the completion of the sale, the executive vice president now owns 83,765 shares of the company’s stock, valued at $7,041,285.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles A. Tribbett sold 1,855 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $88.12, for a total transaction of $163,462.60. Following the sale, the director now directly owns 1,000 shares of the company’s stock, valued at $88,120. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,738 shares of company stock valued at $1,191,388 over the last 90 days. Corporate insiders own 0.64% of the company’s stock.

Northern Trust Company Profile

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.