Northern Trust Co. (NTRS) To Go Ex-Dividend on June 6th

Northern Trust Co. (NASDAQ:NTRS) declared a quarterly dividend on Wednesday, April 23rd, Wall Street Journal reports. Investors of record on Friday, June 6th will be paid a dividend of 0.75 per share by the asset manager on Tuesday, July 1st. This represents a $3.00 annualized dividend and a yield of 3.25%. The ex-dividend date of this dividend is Friday, June 6th.

Northern Trust has raised its dividend by an average of 2.3% per year over the last three years. Northern Trust has a payout ratio of 35.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Northern Trust to earn $9.03 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 33.2%.

Northern Trust Stock Performance

NASDAQ:NTRS opened at $92.40 on Friday. The company has a current ratio of 0.68, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. Northern Trust has a 1-year low of $79.68 and a 1-year high of $114.67. The stock’s 50-day moving average is $98.24 and its 200-day moving average is $102.72. The stock has a market cap of $18.08 billion, a P/E ratio of 9.45, a price-to-earnings-growth ratio of 1.72 and a beta of 1.10.

Northern Trust (NASDAQ:NTRS) last released its earnings results on Tuesday, April 22nd. The asset manager reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.05. Northern Trust had a net margin of 12.77% and a return on equity of 13.74%. The business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.95 billion. Equities research analysts anticipate that Northern Trust will post 8.27 earnings per share for the current year.

Insider Buying and Selling at Northern Trust

In other news, insider Jason J. Tyler sold 2,237 shares of Northern Trust stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $112.67, for a total value of $252,042.79. Following the completion of the transaction, the insider now owns 58,449 shares in the company, valued at $6,585,448.83. This trade represents a 3.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Thomas A. South sold 3,804 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $113.00, for a total transaction of $429,852.00. Following the sale, the executive vice president now owns 81,794 shares in the company, valued at $9,242,722. The trade was a 4.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,335 shares of company stock worth $3,970,211 over the last three months. 0.77% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NTRS. Barclays increased their target price on shares of Northern Trust from $115.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. Morgan Stanley dropped their price target on Northern Trust from $136.00 to $132.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 2nd. StockNews.com downgraded Northern Trust from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Keefe, Bruyette & Woods increased their target price on Northern Trust from $113.00 to $122.00 and gave the stock a “market perform” rating in a report on Friday, January 24th. Finally, Wells Fargo & Company lowered their price objective on shares of Northern Trust from $118.00 to $111.00 and set an “equal weight” rating on the stock in a report on Wednesday. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $110.83.

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.