Northern Trust Corporation (NTRS) to Issue Quarterly Dividend of $0.80 on April 1st

Northern Trust Corporation (NASDAQ:NTRS) declared a quarterly dividend on Wednesday, January 21st. Investors of record on Friday, March 6th will be paid a dividend of 0.80 per share by the asset manager on Wednesday, April 1st. This represents a c) annualized dividend and a yield of 2.1%. The ex-dividend date is Friday, March 6th.

Northern Trust has raised 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. 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 $3.20 annual dividend with an expected future payout ratio of 35.4%.

Northern Trust Stock Up 6.0%

Shares of NTRS stock opened at $153.12 on Friday. The firm’s fifty day moving average price is $137.44 and its two-hundred day moving average price is $131.69. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.58. Northern Trust has a 1 year low of $81.62 and a 1 year high of $157.60. The firm has a market capitalization of $28.96 billion, a P/E ratio of 17.85, a PEG ratio of 1.20 and a beta of 1.27.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings data on Friday, January 30th. The asset manager reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $2.37 by $0.05. The company had revenue of $3.15 billion during the quarter. Northern Trust had a net margin of 11.99% and a return on equity of 14.37%. The company’s quarterly revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.26 earnings per share. On average, equities analysts predict that Northern Trust will post 8.27 EPS for the current fiscal year.

Insider Buying and Selling at Northern Trust

In related news, insider John Landers sold 766 shares of the company’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $124.35, for a total value of $95,252.10. Following the transaction, the insider owned 7,313 shares in the company, valued at approximately $909,371.55. This represents a 9.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Susan Cohen Levy sold 27,591 shares of the stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $128.13, for a total transaction of $3,535,234.83. Following the completion of the transaction, the executive vice president directly owned 48,257 shares in the company, valued at approximately $6,183,169.41. This represents a 36.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.77% of the company’s stock.

Hedge Funds Weigh In On Northern Trust

Several institutional investors and hedge funds have recently made changes to their positions in NTRS. Vanguard Group Inc. boosted its stake in Northern Trust by 0.8% in the 2nd quarter. Vanguard Group Inc. now owns 22,593,674 shares of the asset manager’s stock valued at $2,864,652,000 after purchasing an additional 188,472 shares during the period. State Street Corp lifted its holdings in shares of Northern Trust by 1.0% during the third quarter. State Street Corp now owns 9,493,634 shares of the asset manager’s stock worth $1,285,236,000 after buying an additional 97,584 shares in the last quarter. Primecap Management Co. CA boosted its position in shares of Northern Trust by 19.5% in the second quarter. Primecap Management Co. CA now owns 7,793,757 shares of the asset manager’s stock valued at $988,170,000 after acquiring an additional 1,270,748 shares during the period. Geode Capital Management LLC grew its stake in shares of Northern Trust by 3.7% in the second quarter. Geode Capital Management LLC now owns 5,196,659 shares of the asset manager’s stock valued at $656,229,000 after acquiring an additional 184,726 shares in the last quarter. Finally, Invesco Ltd. increased its position in Northern Trust by 1.7% during the second quarter. Invesco Ltd. now owns 3,501,628 shares of the asset manager’s stock worth $443,971,000 after acquiring an additional 58,029 shares during the period. Institutional investors and hedge funds own 83.19% of the company’s stock.

About Northern Trust

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.