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

Northern Trust Co. (NASDAQ:NTRS - Get Free Report) announced a quarterly dividend on Tuesday, October 22nd, Zacks reports. Shareholders of record on Friday, December 6th will be paid a dividend of 0.75 per share by the asset manager on Wednesday, January 1st. This represents a $3.00 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date of this dividend is Friday, December 6th.

Northern Trust has increased its dividend payment by an average of 2.3% per year over the last three years. Northern Trust has a dividend payout ratio of 42.5% 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 $3.00 annual dividend with an expected future payout ratio of 41.2%.

Northern Trust Trading Up 0.3 %

NASDAQ NTRS traded up $0.28 on Thursday, hitting $102.79. 2,075,586 shares of the company were exchanged, compared to its average volume of 1,311,152. The company's 50 day moving average price is $90.51 and its 200-day moving average price is $86.53. 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 capitalization of $21.03 billion, a P/E ratio of 22.69, a price-to-earnings-growth ratio of 1.44 and a beta of 1.08. Northern Trust has a twelve month low of $62.44 and a twelve month high of $104.25.

Insiders Place Their Bets

In other news, Director Charles A. Tribbett sold 1,855 shares of the company's stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $88.12, for a total value of $163,462.60. Following the completion of the sale, the director now directly owns 1,000 shares of the company's stock, valued at $88,120. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Northern Trust news, Director Charles A. Tribbett sold 1,855 shares of the company's stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $88.12, for a total transaction of $163,462.60. Following the completion of the transaction, the director now owns 1,000 shares of the company's stock, valued at $88,120. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Mark C. Gossett sold 6,000 shares of the company's stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $88.90, for a total value of $533,400.00. Following the transaction, the executive vice president now directly owns 28,707 shares of the company's stock, valued at approximately $2,552,052.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 13,738 shares of company stock valued at $1,191,388. 0.64% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. UBS Group increased their price objective on Northern Trust from $86.00 to $92.00 and gave the stock a "neutral" rating in a report on Tuesday, October 8th. Morgan Stanley increased their price objective on Northern Trust from $97.00 to $103.00 and gave the stock an "underweight" rating in a report on Thursday. Barclays upped their target price on Northern Trust from $98.00 to $115.00 and gave the stock an "equal weight" rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft upped their target price on Northern Trust from $84.00 to $94.00 and gave the stock a "hold" rating in a research report on Monday, September 23rd. Finally, Wells Fargo & Company upped their target price on Northern Trust from $92.00 to $108.00 and gave the stock an "equal weight" rating in a research report on Thursday. Three analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Northern Trust presently has a consensus rating of "Hold" and an average price target of $99.33.

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.