Northern Trust Corporation (NASDAQ:NTRS) Plans Quarterly Dividend of $0.88

Northern Trust Corporation (NASDAQ:NTRS) announced a quarterly dividend on Tuesday, July 21st. Investors of record on Friday, September 4th will be given a dividend of 0.88 per share by the asset manager on Thursday, October 1st. This represents a c) dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Friday, September 4th. This is a 10.0% increase from Northern Trust’s previous quarterly dividend of $0.80.

Northern Trust has increased its dividend by an average of 0.0%per year over the last three years. Northern Trust has a payout ratio of 37.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Northern Trust to earn $12.22 per share next year, which means the company should continue to be able to cover its $3.20 annual dividend with an expected future payout ratio of 26.2%.

Northern Trust Trading Up 1.2%

Shares of NTRS stock opened at $185.06 on Wednesday. Northern Trust has a fifty-two week low of $118.99 and a fifty-two week high of $191.60. The firm’s 50 day moving average price is $173.88 and its two-hundred day moving average price is $157.15. The stock has a market cap of $34.24 billion, a price-to-earnings ratio of 19.38, a price-to-earnings-growth ratio of 1.17 and a beta of 1.25. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.51.

Northern Trust (NASDAQ:NTRS) last posted its earnings results on Tuesday, April 21st. The asset manager reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.37 by $0.34. Northern Trust had a net margin of 12.84% and a return on equity of 15.94%. The business had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the previous year, the business posted $1.90 EPS. The business’s quarterly revenue was up 13.8% on a year-over-year basis. On average, analysts anticipate that Northern Trust will post 11.29 EPS for the current year.

Insider Buying and Selling at Northern Trust

In other Northern Trust news, CFO David W. Fox, Jr. sold 19,987 shares of Northern Trust stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $166.16, for a total value of $3,321,039.92. Following the transaction, the chief financial officer owned 18,588 shares in the company, valued at approximately $3,088,582.08. The trade was a 51.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Clive Bellows sold 2,800 shares of the firm’s stock in a transaction on Friday, April 24th. The stock was sold at an average price of $165.02, for a total value of $462,056.00. Following the sale, the insider directly owned 28,217 shares of the company’s stock, valued at approximately $4,656,369.34. This represents a 9.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 22,800 shares of company stock valued at $3,785,251 in the last quarter. Corporate insiders own 0.66% of the company’s stock.

Hedge Funds Weigh In On Northern Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Triumph Capital Management purchased a new position in Northern Trust during the 3rd quarter valued at about $25,000. Reflection Asset Management purchased a new stake in shares of Northern Trust during the fourth quarter worth $25,000. Basecamp Wealth Advisors LLC lifted its holdings in shares of Northern Trust by 99.0% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 203 shares of the asset manager’s stock valued at $28,000 after buying an additional 101 shares during the last quarter. Elyxium Wealth LLC acquired a new stake in Northern Trust in the fourth quarter valued at approximately $34,000. Finally, International Assets Investment Management LLC acquired a new stake in shares of Northern Trust in the 4th quarter valued at $35,000. 83.19% of the stock is currently owned by hedge funds and other institutional investors.

Northern Trust Company Profile

Northern Trust Corporation (NASDAQ: NTRS) is a global financial services firm headquartered in Chicago that provides asset servicing, asset management and wealth management solutions to institutions, corporations and high-net-worth individuals. The company’s core businesses include custody and fund administration, investment operations outsourcing, trust and fiduciary services, private banking, and retirement and defined contribution plan services.

Northern Trust’s product and service offerings span custody and fund accounting, portfolio and performance analytics, securities lending, cash management and foreign exchange, as well as discretionary and non-discretionary investment management.