Northern Trust Corporation (NTRS) To Go Ex-Dividend on March 6th

Northern Trust Corporation (NASDAQ:NTRS) declared a quarterly dividend on Wednesday, January 21st. Stockholders of record on Friday, March 6th will be given a dividend of 0.80 per share by the asset manager on Wednesday, April 1st. This represents a c) annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Friday, March 6th.

Northern Trust has raised its dividend by an average of 0.0%annually over the last three years. Northern Trust has a dividend payout ratio of 37.5% meaning its dividend is sufficiently covered by earnings. 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 Performance

Shares of Northern Trust stock opened at $142.24 on Wednesday. Northern Trust has a 12 month low of $81.62 and a 12 month high of $157.60. The stock’s fifty day moving average price is $145.53 and its 200-day moving average price is $135.77. The firm has a market cap of $26.43 billion, a P/E ratio of 16.27, a P/E/G ratio of 1.16 and a beta of 1.27. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.57.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings results on Friday, January 30th. The asset manager reported $2.42 EPS for the quarter, beating the consensus estimate of $2.37 by $0.05. Northern Trust had a net margin of 12.15% and a return on equity of 14.87%. The business had revenue of $3.15 billion during the quarter. During the same quarter in the prior year, the firm posted $2.26 EPS. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. On average, equities research analysts expect that Northern Trust will post 8.27 earnings per share for the current fiscal year.

Insider Transactions at Northern Trust

In related news, insider Clive Bellows sold 1,148 shares of the stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $145.26, for a total value of $166,758.48. Following the completion of the sale, the insider owned 34,133 shares of the company’s stock, valued at approximately $4,958,159.58. This trade represents a 3.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO David W. Fox, Jr. sold 1,450 shares of the firm’s stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $144.05, for a total value of $208,872.50. Following the completion of the sale, the chief financial officer directly owned 20,162 shares of the company’s stock, valued at $2,904,336.10. This trade represents a 6.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 28,641 shares of company stock valued at $4,269,900. Company insiders own 0.77% of the company’s stock.

Hedge Funds Weigh In On Northern Trust

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its position 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 in the last quarter. State Street Corp grew its stake 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 purchasing an additional 97,584 shares in the last quarter. Primecap Management Co. CA raised its stake in 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 buying an additional 1,270,748 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Northern Trust by 3.7% in the 2nd 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 during the last quarter. Finally, Invesco Ltd. boosted its holdings in Northern Trust by 8.7% in the fourth quarter. Invesco Ltd. now owns 3,747,840 shares of the asset manager’s stock valued at $511,917,000 after purchasing an additional 301,164 shares in the last quarter. 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.