Northern Trust Corp. (NTRS) to Issue $0.38 Quarterly Dividend
Northern Trust Corp. (NASDAQ:NTRS) declared a quarterly dividend on Tuesday, October 18th. Investors of record on Friday, December 2nd will be given a dividend of 0.38 per share on Sunday, January 1st. This represents a $1.52 dividend on an annualized basis and a yield of 2.14%.
Northern Trust Corp. (NASDAQ:NTRS) opened at 70.95 on Wednesday. The firm has a market capitalization of $16.08 billion, a price-to-earnings ratio of 17.53 and a beta of 1.13. Northern Trust Corp. has a 12-month low of $54.38 and a 12-month high of $76.11. The company’s 50-day moving average price is $69.64 and its 200-day moving average price is $68.98.
In related news, President William L. Morrison sold 170,563 shares of the company’s stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $67.36, for a total value of $11,489,123.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Jeffrey D. Cohodes sold 7,616 shares of the company’s stock in a transaction dated Monday, October 10th. The shares were sold at an average price of $72.35, for a total value of $551,017.60. The disclosure for this sale can be found here. 1.90% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. National Pension Service increased its stake in Northern Trust Corp. by 14.0% in the second quarter. National Pension Service now owns 157,780 shares of the company’s stock worth $10,455,000 after buying an additional 19,320 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Northern Trust Corp. during the second quarter valued at about $1,543,000. HighTower Advisors LLC increased its stake in shares of Northern Trust Corp. by 8.6% in the second quarter. HighTower Advisors LLC now owns 21,043 shares of the company’s stock valued at $1,402,000 after buying an additional 1,670 shares during the period. Advisor Partners LLC acquired a new stake in shares of Northern Trust Corp. during the second quarter valued at about $205,000. Finally, Commonwealth Bank of Australia increased its stake in shares of Northern Trust Corp. by 98.0% in the second quarter. Commonwealth Bank of Australia now owns 12,303 shares of the company’s stock valued at $815,000 after buying an additional 6,090 shares during the period. Institutional investors and hedge funds own 81.68% of the company’s stock.
NTRS has been the topic of several recent analyst reports. Deutsche Bank AG reaffirmed a “hold” rating on shares of Northern Trust Corp. in a research note on Sunday, June 26th. Citigroup Inc. raised Northern Trust Corp. from a “sell” rating to a “neutral” rating and set a $66.00 price target on the stock in a research note on Tuesday, June 28th. Credit Suisse Group AG reaffirmed a “hold” rating on shares of Northern Trust Corp. in a research note on Tuesday, June 28th. Goldman Sachs Group Inc. lowered Northern Trust Corp. from a “buy” rating to a “neutral” rating and decreased their price target for the company from $82.00 to $71.00 in a research note on Thursday, July 7th. Finally, Barclays PLC reissued a “hold” rating on shares of Northern Trust Corp. in a research note on Saturday, July 9th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $72.27.
About Northern Trust Corp.
Northern Trust Corporation is a financial holding company. The Company provides asset servicing, fund administration, asset management, fiduciary and banking solutions for corporations, institutions, families and individuals around the world. The Company’s segments include Corporate & Institutional Services (C&IS), Wealth Management, and Treasury and Other.
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