Northern Trust Corporation (NASDAQ:NTRS) Plans Quarterly Dividend of $0.80

Northern Trust Corporation (NASDAQ:NTRS) declared a quarterly dividend on Wednesday, July 23rd, Wall Street Journal reports. Stockholders of record on Friday, September 5th will be given a dividend of 0.80 per share by the asset manager on Wednesday, October 1st. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date is Friday, September 5th. This is a 6.7% increase from Northern Trust’s previous quarterly dividend of $0.75.

Northern Trust has a dividend payout ratio of 35.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Northern Trust to earn $9.03 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 33.2%.

Northern Trust Trading Down 1.8%

NTRS stock opened at $124.23 on Thursday. Northern Trust has a 1-year low of $80.81 and a 1-year high of $133.00. The firm has a market cap of $24.17 billion, a P/E ratio of 11.59, a P/E/G ratio of 1.88 and a beta of 1.26. The business’s 50 day moving average is $116.32 and its 200-day moving average is $106.67. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.57.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings data on Wednesday, July 23rd. The asset manager reported $2.13 EPS for the quarter, topping analysts’ consensus estimates of $2.08 by $0.05. The firm had revenue of $2 billion during the quarter, compared to analyst estimates of $1.96 billion. Northern Trust had a return on equity of 13.73% and a net margin of 13.93%. The company’s revenue was down 26.4% on a year-over-year basis. During the same period last year, the company earned $4.34 earnings per share. Equities analysts anticipate that Northern Trust will post 8.27 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently commented on NTRS. Wolfe Research raised Northern Trust from an “underperform” rating to a “peer perform” rating in a research note on Thursday. The Goldman Sachs Group lifted their price target on Northern Trust from $89.00 to $101.00 and gave the stock a “sell” rating in a report on Wednesday, July 2nd. Morgan Stanley boosted their price objective on shares of Northern Trust from $103.00 to $106.00 and gave the company an “underweight” rating in a research report on Tuesday, July 1st. Royal Bank Of Canada set a $123.00 price objective on shares of Northern Trust and gave the stock an “outperform” rating in a research note on Monday, June 30th. Finally, Bank of America reduced their price objective on shares of Northern Trust from $123.00 to $121.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Northern Trust presently has an average rating of “Hold” and an average target price of $116.00.

Insider Transactions at Northern Trust

In other Northern Trust news, insider Teresa Parker sold 6,467 shares of Northern Trust stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $100.62, for a total transaction of $650,709.54. Following the completion of the transaction, the insider owned 79,391 shares in the company, valued at approximately $7,988,322.42. This trade represents a 7.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Clive Bellows sold 3,300 shares of Northern Trust stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $99.95, for a total value of $329,835.00. Following the completion of the sale, the executive vice president owned 28,736 shares in the company, valued at approximately $2,872,163.20. The trade was a 10.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 9,772 shares of company stock valued at $981,069 in the last quarter. Company insiders own 0.77% of the company’s stock.

Hedge Funds Weigh In On Northern Trust

An institutional investor recently raised its position in Northern Trust stock. Woodline Partners LP raised its stake in Northern Trust Corporation (NASDAQ:NTRS) by 39.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,557 shares of the asset manager’s stock after acquiring an additional 4,653 shares during the period. Woodline Partners LP’s holdings in Northern Trust were worth $1,633,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 83.19% of the stock is currently owned by hedge funds and other institutional investors.

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.