Northern Trust Co. (NASDAQ:NTRS) Announces $0.70 Quarterly Dividend

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.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.06. Northern Trust had a net margin of 22.10% and a return on equity of 15.66%. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter last year, the company posted $1.58 earnings per share. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. As a group, research analysts expect that Northern Trust will post 6.65 earnings per share for the current fiscal year.

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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Dividend History for Northern Trust (NASDAQ:NTRS)

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