Northern Trust Co. (NASDAQ:NTRS) to Issue $0.75 Quarterly Dividend

Northern Trust Co. (NASDAQ:NTRS) declared a quarterly dividend on Tuesday, October 22nd,Zacks Dividends reports. Stockholders of record on Friday, December 6th will be given a dividend of 0.75 per share by the asset manager on Wednesday, January 1st. This represents a $3.00 annualized dividend and a dividend yield of 2.74%. The ex-dividend date is Friday, December 6th.

Northern Trust has increased its dividend by an average of 2.3% annually over the last three years. Northern Trust has a dividend payout ratio of 39.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Northern Trust to earn $7.82 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 38.4%.

Northern Trust Trading Down 0.5 %

Shares of Northern Trust stock opened at $109.34 on Wednesday. The stock has a fifty day moving average price of $100.46 and a 200-day moving average price of $90.98. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71. The firm has a market cap of $21.67 billion, a PE ratio of 13.60, a P/E/G ratio of 1.24 and a beta of 1.07. Northern Trust has a 1 year low of $76.67 and a 1 year high of $111.87.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on NTRS shares. Deutsche Bank Aktiengesellschaft increased their target price on shares of Northern Trust from $100.00 to $108.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Wells Fargo & Company boosted their price objective on Northern Trust from $108.00 to $110.00 and gave the company an “equal weight” rating in a research note on Friday, November 15th. The Goldman Sachs Group cut shares of Northern Trust from a “neutral” rating to a “sell” rating and dropped their price target for the company from $84.00 to $82.00 in a research note on Thursday, September 26th. Morgan Stanley lifted their price objective on shares of Northern Trust from $97.00 to $103.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. Finally, Barclays boosted their price objective on Northern Trust from $98.00 to $115.00 and gave the company an “equal weight” rating in a research note on Thursday, October 24th. Three 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.com, Northern Trust presently has a consensus rating of “Hold” and an average price target of $103.00.

Insiders Place Their Bets

In other Northern Trust news, Vice Chairman Steven L. Fradkin sold 9,100 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $111.00, for a total value of $1,010,100.00. Following the completion of the sale, the insider now owns 47,797 shares of the company’s stock, valued at $5,305,467. This represents a 15.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Thomas A. South sold 5,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $105.80, for a total transaction of $529,000.00. Following the transaction, the executive vice president now owns 49,756 shares in the company, valued at $5,264,184.80. The trade was a 9.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 84,006 shares of company stock valued at $8,653,352 in the last quarter. Corporate insiders own 0.64% of the company’s stock.

About Northern Trust

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.