Northern Trust Co. (NASDAQ:NTRS) Plans $0.70 Quarterly Dividend

Northern Trust Co. (NASDAQ:NTRSGet Rating) declared a quarterly dividend on Tuesday, April 26th, RTT News reports. Shareholders of record on Friday, June 10th will be given a dividend of 0.70 per share by the asset manager on Friday, July 1st. This represents a $2.80 annualized dividend and a dividend yield of 2.59%.

Northern Trust has raised its dividend by an average of 13.0% per year over the last three years. Northern Trust has a payout ratio of 30.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Northern Trust to earn $9.12 per share next year, which means the company should continue to be able to cover its $2.80 annual dividend with an expected future payout ratio of 30.7%.

Shares of NASDAQ:NTRS traded up $2.17 on Tuesday, hitting $107.93. The company had a trading volume of 1,315,139 shares, compared to its average volume of 994,142. Northern Trust has a 1-year low of $102.39 and a 1-year high of $135.15. The stock has a market cap of $22.44 billion, a price-to-earnings ratio of 15.13 and a beta of 1.12. The stock has a 50 day moving average price of $113.43 and a 200 day moving average price of $118.80. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.33.

Northern Trust (NASDAQ:NTRSGet Rating) last released its quarterly earnings data on Tuesday, April 26th. The asset manager reported $1.77 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.64 by $0.13. The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.69 billion. Northern Trust had a net margin of 23.82% and a return on equity of 14.16%. The company’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.70 earnings per share. Sell-side analysts anticipate that Northern Trust will post 7.79 earnings per share for the current fiscal year.

In other news, CFO Jason J. Tyler sold 1,936 shares of the company’s stock in a transaction that occurred on Monday, January 31st. The stock was sold at an average price of $115.60, for a total value of $223,801.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Lauren E. Allnutt sold 393 shares of the company’s stock in a transaction that occurred on Thursday, March 10th. The shares were sold at an average price of $105.61, for a total value of $41,504.73. The disclosure for this sale can be found here. 0.55% of the stock is currently owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in NTRS. Barclays PLC increased its stake in shares of Northern Trust by 10.2% in the fourth quarter. Barclays PLC now owns 582,775 shares of the asset manager’s stock valued at $69,705,000 after buying an additional 53,822 shares during the period. Parametric Portfolio Associates LLC increased its position in Northern Trust by 6.8% during the 4th quarter. Parametric Portfolio Associates LLC now owns 637,001 shares of the asset manager’s stock valued at $76,192,000 after purchasing an additional 40,740 shares during the period. Metropolitan Life Insurance Co NY increased its position in Northern Trust by 16.3% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 23,687 shares of the asset manager’s stock valued at $2,833,000 after purchasing an additional 3,324 shares during the period. Forum Financial Management LP acquired a new stake in Northern Trust during the 4th quarter valued at approximately $375,000. Finally, California State Teachers Retirement System increased its position in Northern Trust by 0.7% during the 4th quarter. California State Teachers Retirement System now owns 354,744 shares of the asset manager’s stock valued at $42,431,000 after purchasing an additional 2,598 shares during the period. 80.02% of the stock is owned by institutional investors.

A number of equities research analysts have recently issued reports on NTRS shares. Barclays boosted their target price on shares of Northern Trust from $131.00 to $133.00 in a research report on Monday, January 3rd. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Northern Trust from $152.00 to $148.00 and set a “buy” rating for the company in a research report on Friday, February 18th. Seaport Res Ptn raised shares of Northern Trust from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 5th. Citigroup cut their price objective on shares of Northern Trust from $140.00 to $130.00 in a research report on Tuesday, January 25th. Finally, The Goldman Sachs Group raised shares of Northern Trust from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $128.00 to $141.00 in a research report on Wednesday, March 30th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Northern Trust has an average rating of “Hold” and an average price target of $130.00.

About Northern Trust (Get Rating)

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, Corporate & Institutional Services (C&IS) and Wealth Management.

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Dividend History for Northern Trust (NASDAQ:NTRS)

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