Northern Trust Co. (NASDAQ:NTRS) announced a quarterly dividend on Tuesday, January 21st, RTT News reports. Stockholders of record on Friday, March 13th will be paid a dividend of 0.70 per share by the asset manager on Wednesday, April 1st. This represents a $2.80 annualized dividend and a dividend yield of 2.58%.
Northern Trust has raised its dividend by an average of 20.5% per year over the last three years and has raised its dividend annually for the last 8 consecutive years. Northern Trust has a dividend payout ratio of 38.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Northern Trust to earn $7.29 per share next year, which means the company should continue to be able to cover its $2.80 annual dividend with an expected future payout ratio of 38.4%.
Shares of NTRS stock traded down $0.81 on Tuesday, hitting $108.57. The stock had a trading volume of 1,754,834 shares, compared to its average volume of 1,127,399. The business has a 50 day moving average of $107.43 and a 200 day moving average of $98.25. The stock has a market cap of $23.18 billion, a price-to-earnings ratio of 16.16, a price-to-earnings-growth ratio of 1.61 and a beta of 1.22. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.61 and a quick ratio of 0.61. Northern Trust has a 12-month low of $83.95 and a 12-month high of $110.48.
In other Northern Trust news, EVP Robert P. Browne sold 10,680 shares of the stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $101.56, for a total transaction of $1,084,660.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Biff Bowman sold 13,208 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $106.53, for a total transaction of $1,407,048.24. The disclosure for this sale can be found here. Insiders have sold 68,280 shares of company stock valued at $7,207,481 in the last quarter. Company insiders own 1.15% of the company’s stock.
A number of analysts recently issued reports on the stock. ValuEngine downgraded shares of Northern Trust from a “hold” rating to a “sell” rating in a report on Friday, January 3rd. Buckingham Research downgraded shares of Northern Trust from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $112.00 to $115.00 in a report on Thursday, January 9th. They noted that the move was a valuation call. BidaskClub downgraded shares of Northern Trust from a “buy” rating to a “hold” rating in a report on Saturday, December 21st. Citigroup upgraded shares of Northern Trust from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $92.00 to $110.00 in a report on Monday, December 16th. Finally, Deutsche Bank raised their price objective on shares of Northern Trust from $110.00 to $112.00 and gave the stock a “hold” rating in a report on Wednesday, November 27th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company. Northern Trust currently has an average rating of “Hold” and an average target price of $107.15.
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, Corporate & Institutional Services (C&IS) and Wealth Management.
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