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

Northern Trust Co. (NASDAQ:NTRS) declared a quarterly dividend on Tuesday, October 22nd, Zacks reports. Investors 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 annualized dividend and a yield of 2.93%. The ex-dividend date is Friday, December 6th.

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 42.5% indicating that its dividend is sufficiently covered by earnings. Research 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 Up 7.0 %

Shares of NASDAQ:NTRS opened at $102.51 on Thursday. Northern Trust has a 12-month low of $62.44 and a 12-month high of $104.25. The stock’s 50-day moving average price is $90.51 and its two-hundred day moving average price is $86.53. 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 market cap of $20.97 billion, a price-to-earnings ratio of 22.63, a PEG ratio of 1.44 and a beta of 1.08.

Analyst Ratings Changes

A number of research firms recently issued reports on NTRS. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Northern Trust from $84.00 to $94.00 and gave the company a “hold” rating in a report on Monday, September 23rd. UBS Group boosted their price objective on shares of Northern Trust from $86.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, October 8th. Morgan Stanley upped their price objective on 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 lifted their target price on Northern Trust from $86.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday, July 18th. Finally, Keefe, Bruyette & Woods dropped their price target on Northern Trust from $92.00 to $85.00 and set a “market perform” rating for the company in a research note on Thursday, June 27th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Northern Trust currently has a consensus rating of “Hold” and a consensus target price of $92.18.

Insider Activity

In other Northern Trust news, Director Charles A. Tribbett sold 1,855 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $88.12, for a total value of $163,462.60. Following the completion of the transaction, the director now owns 1,000 shares in the company, valued at $88,120. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Teresa Parker sold 5,883 shares of Northern Trust stock in a transaction 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 sale, the executive vice president now owns 83,765 shares of the company’s stock, valued at $7,041,285.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Charles A. Tribbett sold 1,855 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $88,120. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,738 shares of company stock worth $1,191,388. 0.64% of the stock is currently owned by corporate insiders.

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.