Northern Trust Corporation (NASDAQ:NTRS – Get Free Report) announced a quarterly dividend on Tuesday, October 20th. Stockholders of record on Friday, December 4th will be paid a dividend of $0.88 per share by the asset manager on Friday, January 1st. This represents a $3.52 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Friday, December 4th.
Northern Trust has a dividend payout ratio of 41.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Northern Trust to earn $12.80 per share next year, which means the company should continue to be able to cover its $3.52 annual dividend with an expected future payout ratio of 27.5%.
Northern Trust Price Performance
Shares of NTRS traded up $1.02 during trading hours on Wednesday, reaching $166.46. 750,228 shares of the stock traded hands, compared to its average volume of 1,092,355. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.43. Northern Trust has a 52-week low of $121.53 and a 52-week high of $195.78. The company’s 50-day moving average price is $178.63 and its two-hundred day moving average price is $173.50. The company has a market cap of $30.45 billion, a P/E ratio of 14.28, a price-to-earnings-growth ratio of 0.93 and a beta of 1.24.
Northern Trust (NASDAQ:NTRS – Get Free Report) last issued its earnings results on Wednesday, October 21st. The asset manager reported $3.40 earnings per share for the quarter, topping the consensus estimate of $2.87 by $0.53. Northern Trust had a net margin of 14.76% and a return on equity of 16.91%. The company had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter in the prior year, the firm posted $2.29 EPS. Northern Trust’s quarterly revenue was up 13.4% compared to the same quarter last year. On average, analysts anticipate that Northern Trust will post 11.65 earnings per share for the current year.
Insiders Place Their Bets
In other Northern Trust news, EVP Thomas South sold 1,800 shares of the stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $184.90, for a total transaction of $332,820.00. Following the completion of the transaction, the executive vice president owned 92,917 shares of the company’s stock, valued at $17,180,353.30. This represents a 1.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert Moritz, Jr. acquired 255 shares of the business’s stock in a transaction dated Wednesday, July 29th. The shares were purchased at an average price of $179.57 per share, with a total value of $45,790.35. Following the transaction, the director owned 8,400 shares of the company’s stock, valued at approximately $1,508,388. This represents a 3.13% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 0.66% of the company’s stock.
Institutional Investors Weigh In On Northern Trust
Large investors have recently made changes to their positions in the company. HWG Holdings LP bought a new position in Northern Trust during the third quarter valued at approximately $4,470,000. Renaissance Technologies LLC purchased a new stake in shares of Northern Trust during the 1st quarter worth approximately $2,303,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of Northern Trust during the 2nd quarter worth approximately $25,721,000. Bank of America Corp DE raised its holdings in shares of Northern Trust by 5.6% during the 1st quarter. Bank of America Corp DE now owns 622,852 shares of the asset manager’s stock worth $86,931,000 after acquiring an additional 33,029 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Northern Trust by 4.3% during the 1st quarter. Bank of New York Mellon Corp now owns 2,036,137 shares of the asset manager’s stock valued at $284,184,000 after acquiring an additional 83,117 shares during the last quarter. 83.19% of the stock is owned by institutional investors.
About Northern Trust
Northern Trust Corporation (NASDAQ:NTRS) is a financial services company that provides wealth management, asset servicing, asset management and banking services. The company serves institutional investors, corporations, financial institutions, high-net-worth individuals and families.
Its offerings include custody and administration of investment assets, fund accounting, securities lending, foreign exchange, treasury services, investment management, trust and estate services, private banking and wealth planning.
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