Northern Trust Co. (NTRS) to Issue Quarterly Dividend of $0.75 on January 1st

by · The Cerbat Gem

Northern Trust Co. (NASDAQ:NTRS – Get Free Report) declared a quarterly dividend on Tuesday, October 22nd, Zacks reports. Stockholders of record on Friday, December 6th will be paid 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 of this dividend is Friday, December 6th.

Northern Trust has increased 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. 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 Price Performance

NTRS stock opened at $102.51 on Thursday. 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. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. Northern Trust has a 12-month low of $62.44 and a 12-month high of $104.25. The company’s fifty day simple moving average is $90.51 and its 200 day simple moving average is $86.53.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Keefe, Bruyette & Woods dropped their target price on shares of Northern Trust from $92.00 to $85.00 and set a “market perform” rating on the stock in a report on Thursday, June 27th. Royal Bank of Canada boosted their target price on shares of Northern Trust from $86.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday, July 18th. 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. Barclays lifted their price target on shares of Northern Trust from $98.00 to $115.00 and gave the company an “equal weight” rating in a research note on Thursday. Finally, UBS Group lifted their price target 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. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Northern Trust presently has a consensus rating of “Hold” and a consensus target price of $93.73.

View Our Latest Research Report on NTRS

Insider Transactions at Northern Trust

In other news, Director Charles A. Tribbett sold 1,855 shares of the business’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 sale, the director now directly owns 1,000 shares of the company’s stock, valued at $88,120. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Northern Trust news, EVP Teresa Parker sold 5,883 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $84.06, for a total value of $494,524.98. Following the completion of the sale, the executive vice president now directly owns 83,765 shares of the company’s stock, valued at approximately $7,041,285.90. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed 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 stock was 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 directly owns 1,000 shares of the company’s stock, valued at $88,120. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,738 shares of company stock valued at $1,191,388 over the last three months. Corporate insiders own 0.64% 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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