Northern Trust Corp. (NTRS) to Issue Quarterly Dividend of $0.38
Northern Trust Corp. (NASDAQ:NTRS) announced a quarterly dividend on Tuesday, October 18th. Shareholders of record on Friday, December 2nd will be paid a dividend of 0.38 per share on Sunday, January 1st. This represents a $1.52 annualized dividend and a yield of 2.14%.
Shares of Northern Trust Corp. (NASDAQ:NTRS) traded up 0.97% during mid-day trading on Tuesday, reaching $70.95. The company’s stock had a trading volume of 814,680 shares. The firm has a market capitalization of $16.08 billion, a P/E 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 has a 50 day moving average of $69.61 and a 200-day moving average of $68.94.
Several equities analysts have commented on NTRS shares. Zacks Investment Research raised Northern Trust Corp. from a “hold” rating to a “buy” rating and set a $78.00 price target for the company in a report on Wednesday, October 5th. Deutsche Bank AG upped their price target on Northern Trust Corp. from $75.00 to $76.00 and gave the company a “hold” rating in a report on Friday, September 9th. Jefferies Group reaffirmed a “hold” rating and issued a $71.00 price target (up previously from $68.00) on shares of Northern Trust Corp. in a report on Sunday, July 24th. Credit Suisse Group AG set a $68.00 price target on Northern Trust Corp. and gave the company a “hold” rating in a report on Wednesday, July 20th. Finally, Barclays PLC reaffirmed a “hold” rating on shares of Northern Trust Corp. in a report on Saturday, July 9th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $72.27.
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In related news, President William L. Morrison sold 170,563 shares of the stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $67.36, for a total transaction of $11,489,123.68. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Jeffrey D. Cohodes sold 7,616 shares of the stock in a transaction that occurred on Monday, October 10th. The stock was 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. Corporate insiders own 1.90% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. American Century Companies Inc. raised its stake in Northern Trust Corp. by 6.4% in the second quarter. American Century Companies Inc. now owns 7,702,813 shares of the company’s stock worth $510,388,000 after buying an additional 462,106 shares during the period. BlackRock Inc. raised its stake in Northern Trust Corp. by 6.3% in the second quarter. BlackRock Inc. now owns 447,397 shares of the company’s stock worth $29,644,000 after buying an additional 26,495 shares during the period. BlackRock Group LTD raised its stake in Northern Trust Corp. by 1.6% in the second quarter. BlackRock Group LTD now owns 1,727,676 shares of the company’s stock worth $114,476,000 after buying an additional 27,848 shares during the period. US Bancorp DE raised its stake in Northern Trust Corp. by 15.0% in the second quarter. US Bancorp DE now owns 52,384 shares of the company’s stock worth $3,471,000 after buying an additional 6,846 shares during the period. Finally, Wetherby Asset Management Inc. raised its stake in Northern Trust Corp. by 24.1% in the second quarter. Wetherby Asset Management Inc. now owns 3,991 shares of the company’s stock worth $264,000 after buying an additional 776 shares during the period. Institutional investors and hedge funds own 81.68% of the company’s stock.
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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