Northern Trust Corporation (NTRS) to Issue Quarterly Dividend of $0.88 on October 1st

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) annualized dividend and a dividend yield of 2.0%. 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 raised its dividend by an average of 0.0%annually over the last three years. Northern Trust has a payout ratio of 37.5% indicating that its dividend is sufficiently covered by earnings. 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 Price Performance

NASDAQ:NTRS opened at $178.66 on Thursday. Northern Trust has a one year low of $118.99 and a one year high of $191.60. The stock has a market cap of $33.06 billion, a PE ratio of 18.71, a P/E/G ratio of 1.18 and a beta of 1.25. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.62 and a current ratio of 0.62. The stock has a 50 day moving average price of $174.20 and a 200 day moving average price of $157.44.

Northern Trust (NASDAQ:NTRS) last issued its earnings results on Wednesday, July 22nd. The asset manager reported $4.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.71 by $1.52. Northern Trust had a return on equity of 15.94% and a net margin of 12.84%.The company had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.69 billion. During the same period in the prior year, the business earned $2.13 EPS. The firm’s quarterly revenue was up 35.1% on a year-over-year basis. Equities research analysts expect that Northern Trust will post 11.29 EPS for the current fiscal year.

Insiders Place Their Bets

In other Northern Trust news, Director Robert Edward Jr. Moritz purchased 225 shares of Northern Trust stock in a transaction dated Friday, May 1st. The shares were acquired at an average price of $166.41 per share, with a total value of $37,442.25. Following the completion of the transaction, the director owned 8,145 shares of the company’s stock, valued at $1,355,409.45. This trade represents a 2.84% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Clive Bellows sold 2,800 shares of Northern Trust stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $165.02, for a total transaction of $462,056.00. Following the completion of the transaction, the insider owned 28,217 shares of the company’s stock, valued at $4,656,369.34. This trade represents a 9.03% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 22,800 shares of company stock worth $3,785,251 over the last ninety days. Corporate insiders own 0.66% of the company’s stock.

Institutional Trading of Northern Trust

Several hedge funds have recently modified their holdings of NTRS. Empowered Funds LLC grew its stake in shares of Northern Trust by 13.3% during the first quarter. Empowered Funds LLC now owns 20,112 shares of the asset manager’s stock worth $1,984,000 after purchasing an additional 2,363 shares in the last quarter. Woodline Partners LP boosted its holdings in shares of Northern Trust by 39.1% in the first quarter. Woodline Partners LP now owns 16,557 shares of the asset manager’s stock valued at $1,633,000 after acquiring an additional 4,653 shares during the period. EverSource Wealth Advisors LLC boosted its stake in Northern Trust by 79.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the asset manager’s stock worth $171,000 after purchasing an additional 596 shares during the period. WINTON GROUP Ltd purchased a new position in shares of Northern Trust during the second quarter worth about $267,000. Finally, Daiwa Securities Group Inc. grew its stake in shares of Northern Trust by 4.6% in the 2nd quarter. Daiwa Securities Group Inc. now owns 29,290 shares of the asset manager’s stock valued at $3,714,000 after purchasing an additional 1,275 shares during the last quarter. 83.19% of the stock is currently owned by institutional investors and hedge funds.

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.