Northern Trust Co. (NASDAQ:NTRS) Declares Quarterly Dividend of $0.75

Northern Trust Co. (NASDAQ:NTRS) announced a quarterly dividend on Tuesday, April 16th, Zacks reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date of this dividend is Friday, June 7th.

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 43.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Northern Trust to earn $6.96 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 43.1%.

Northern Trust Price Performance

NASDAQ:NTRS opened at $81.23 on Thursday. Northern Trust has a 52 week low of $62.44 and a 52 week high of $89.25. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $16.57 billion, a PE ratio of 17.93, a price-to-earnings-growth ratio of 1.64 and a beta of 1.13. The stock’s 50-day moving average price is $83.17 and its 200-day moving average price is $78.82.

Northern Trust (NASDAQ:NTRS) last posted its earnings results on Thursday, January 18th. The asset manager reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.81). Northern Trust had a net margin of 7.59% and a return on equity of 12.57%. The business had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same quarter last year, the business earned $1.65 earnings per share. Northern Trust’s revenue was up 1.9% on a year-over-year basis. As a group, equities analysts expect that Northern Trust will post 6.57 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on NTRS. Evercore ISI raised their target price on Northern Trust from $86.00 to $87.00 and gave the company an “in-line” rating in a research report on Thursday, April 4th. UBS Group lifted their price objective on Northern Trust from $72.00 to $84.00 and gave the stock a “neutral” rating in a report on Tuesday, January 9th. Bank of America lifted their price objective on Northern Trust from $93.00 to $101.00 and gave the stock a “buy” rating in a report on Wednesday. Barclays lifted their price objective on Northern Trust from $90.00 to $98.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 2nd. Finally, TheStreet upgraded Northern Trust from a “c+” rating to a “b-” rating in a report on Friday, January 12th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $84.58.

Insiders Place Their Bets

In other news, insider Steven L. Fradkin sold 30,392 shares of Northern Trust stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $80.11, for a total transaction of $2,434,703.12. Following the sale, the insider now owns 55,707 shares of the company’s stock, valued at approximately $4,462,687.77. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.64% of the company’s stock.

Institutional Trading of Northern Trust

Institutional investors have recently made changes to their positions in the company. Belpointe Asset Management LLC raised its position in shares of Northern Trust by 84.5% during the 1st quarter. Belpointe Asset Management LLC now owns 393 shares of the asset manager’s stock valued at $35,000 after buying an additional 180 shares during the period. Clear Street Markets LLC raised its position in shares of Northern Trust by 93.4% during the 1st quarter. Clear Street Markets LLC now owns 408 shares of the asset manager’s stock valued at $36,000 after buying an additional 197 shares during the period. Covestor Ltd raised its position in shares of Northern Trust by 64.8% during the 1st quarter. Covestor Ltd now owns 496 shares of the asset manager’s stock valued at $58,000 after buying an additional 195 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in shares of Northern Trust during the 2nd quarter valued at approximately $51,000. Finally, Itau Unibanco Holding S.A. purchased a new stake in shares of Northern Trust during the 2nd quarter valued at approximately $40,000. Hedge funds and other institutional investors own 83.19% of the company’s stock.

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.