Northern Trust Co. (NTRS) To Go Ex-Dividend on June 7th

Northern Trust Co. (NASDAQ:NTRSGet Free Report) declared a quarterly dividend on Tuesday, April 16th, Zacks reports. Investors of record on Friday, June 7th will be paid a dividend of 0.75 per share by the asset manager on Monday, July 1st. This represents a $3.00 annualized dividend and a yield of 3.69%. The ex-dividend date of this dividend is Friday, June 7th.

Northern Trust has raised its dividend payment by an average of 2.3% per year over the last three years. Northern Trust has a payout ratio of 43.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Northern Trust to earn $6.96 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 43.1%.

Northern Trust Price Performance

Shares of NASDAQ:NTRS opened at $81.23 on Thursday. The company has a market cap of $16.57 billion, a price-to-earnings ratio of 17.93, a PEG ratio of 1.64 and a beta of 1.13. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.71. The firm has a 50 day simple moving average of $83.17 and a 200 day simple moving average of $78.82. Northern Trust has a one year low of $62.44 and a one year high of $89.25.

Northern Trust (NASDAQ:NTRSGet Free Report) last issued its quarterly earnings data on Thursday, January 18th. The asset manager reported $0.52 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.81). The company had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.71 billion. Northern Trust had a net margin of 7.59% and a return on equity of 12.57%. Northern Trust’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.65 EPS. Research analysts predict that Northern Trust will post 6.57 earnings per share for the current fiscal year.

Insider Transactions at Northern Trust

In other Northern Trust news, insider Steven L. Fradkin sold 30,392 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $80.11, for a total value of $2,434,703.12. Following the completion of the sale, the insider now directly owns 55,707 shares in the company, valued at $4,462,687.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.64% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Belpointe Asset Management LLC lifted its position in shares of Northern Trust by 84.5% during the first quarter. Belpointe Asset Management LLC now owns 393 shares of the asset manager’s stock valued at $35,000 after purchasing an additional 180 shares in the last quarter. Clear Street Markets LLC raised its position in Northern Trust by 93.4% in the first quarter. Clear Street Markets LLC now owns 408 shares of the asset manager’s stock worth $36,000 after acquiring an additional 197 shares during the period. Itau Unibanco Holding S.A. purchased a new position in shares of Northern Trust in the second quarter worth about $40,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new position in shares of Northern Trust in the second quarter worth about $51,000. Finally, Covestor Ltd increased its stake in shares of Northern Trust by 64.8% in the first quarter. Covestor Ltd now owns 496 shares of the asset manager’s stock worth $58,000 after purchasing an additional 195 shares in the last quarter. 83.19% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on NTRS. Jefferies Financial Group raised shares of Northern Trust from a “hold” rating to a “buy” rating and increased their price objective for the company from $68.00 to $99.00 in a research note on Tuesday, January 9th. Barclays upped their price target on shares of Northern Trust from $90.00 to $98.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 2nd. Royal Bank of Canada upped their price target on shares of Northern Trust from $82.00 to $86.00 and gave the company an “outperform” rating in a research report on Friday, January 19th. Morgan Stanley restated an “underweight” rating and issued a $86.00 price target (up from $82.00) on shares of Northern Trust in a research report on Tuesday, January 30th. Finally, TheStreet upgraded shares of Northern Trust from a “c+” rating to a “b-” rating in a research report on Friday, January 12th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Northern Trust currently has a consensus rating of “Hold” and a consensus target price of $84.58.

View Our Latest Analysis on NTRS

Northern Trust Company Profile

(Get Free Report)

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.

See Also

Dividend History for Northern Trust (NASDAQ:NTRS)

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