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

Northern Trust Co. (NASDAQ:NTRSGet Free Report) declared a quarterly dividend on Tuesday, April 16th, Zacks reports. Investors of record on Friday, June 7th will be given a dividend of 0.75 per share by the asset manager on Monday, July 1st. This represents a $3.00 annualized dividend and a dividend yield of 3.60%. The ex-dividend date is Friday, June 7th.

Northern Trust has increased its dividend payment by an average of 2.3% annually over the last three years and has increased its dividend annually for the last 2 consecutive years. Northern Trust has a dividend payout ratio of 42.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Northern Trust to earn $7.09 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 42.3%.

Northern Trust Price Performance

NASDAQ:NTRS opened at $83.43 on Wednesday. Northern Trust has a one year low of $62.44 and a one year high of $89.25. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a market cap of $17.07 billion, a price-to-earnings ratio of 18.42, a PEG ratio of 1.19 and a beta of 1.10. The firm’s fifty day moving average is $84.71 and its two-hundred day moving average is $82.70.

Northern Trust (NASDAQ:NTRSGet Free Report) last posted its quarterly earnings results on Tuesday, April 16th. The asset manager reported $1.70 EPS for the quarter, beating the consensus estimate of $1.47 by $0.23. Northern Trust had a net margin of 7.59% and a return on equity of 12.57%. The company had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.79 billion. Research analysts expect that Northern Trust will post 6.82 EPS for the current year.

Analyst Upgrades and Downgrades

NTRS has been the subject of a number of recent research reports. Bank of America increased their price objective on shares of Northern Trust from $93.00 to $101.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Jefferies Financial Group raised their price target on shares of Northern Trust from $101.00 to $103.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Finally, Evercore ISI lifted their target price on shares of Northern Trust from $86.00 to $87.00 and gave the company an “in-line” rating in a report on Thursday, April 4th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $84.92.

View Our Latest Stock Report on NTRS

Insider Transactions at Northern Trust

In related news, insider Peter Cherecwich sold 12,000 shares of Northern Trust stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $87.09, for a total transaction of $1,045,080.00. Following the sale, the insider now directly owns 31,471 shares in the company, valued at approximately $2,740,809.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Peter Cherecwich sold 12,000 shares of Northern Trust stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $87.09, for a total transaction of $1,045,080.00. Following the sale, the insider now directly owns 31,471 shares in the company, valued at approximately $2,740,809.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Steven L. Fradkin sold 4,097 shares of Northern Trust stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $82.56, for a total transaction of $338,248.32. Following the sale, the insider now owns 46,078 shares in the company, valued at $3,804,199.68. The disclosure for this sale can be found here. 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.

See Also

Dividend History for Northern Trust (NASDAQ:NTRS)

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