Northern Trust Corp. (NTRS) to Issue $0.38 Quarterly Dividend
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 dividend yield of 2.14%.
Shares of Northern Trust Corp. (NASDAQ:NTRS) opened at 70.95 on Wednesday. Northern Trust Corp. has a one year low of $54.38 and a one year high of $76.11. The firm has a 50 day moving average price of $69.64 and a 200 day moving average price of $68.98. The company has a market capitalization of $16.08 billion, a P/E ratio of 17.53 and a beta of 1.13.
In other news, CFO Biff Bowman sold 2,960 shares of Northern Trust Corp. stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $70.00, for a total value of $207,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President William L. Morrison sold 170,563 shares of Northern Trust Corp. stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $67.36, for a total value of $11,489,123.68. The disclosure for this sale can be found here. 1.90% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Barr E S & Co. acquired a new position in Northern Trust Corp. during the second quarter valued at $202,000. Advisor Partners LLC purchased a new stake in shares of Northern Trust Corp. during the second quarter worth approximately $205,000. Laurel Wealth Advisors Inc. purchased a new stake in shares of Northern Trust Corp. during the second quarter worth approximately $212,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Northern Trust Corp. during the second quarter worth approximately $232,000. Finally, Advisor Group Inc. purchased a new stake in shares of Northern Trust Corp. during the second quarter worth approximately $245,000. 81.68% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have weighed in on NTRS shares. Goldman Sachs Group Inc. downgraded Northern Trust Corp. from a “buy” rating to a “neutral” rating and reduced their target price for the company from $82.00 to $71.00 in a report on Thursday, July 7th. Zacks Investment Research raised Northern Trust Corp. from a “hold” rating to a “buy” rating and set a $78.00 price objective on the stock in a report on Wednesday, October 5th. Deutsche Bank AG set a $71.00 price objective on Northern Trust Corp. and gave the company a “hold” rating in a report on Friday, August 5th. Credit Agricole SA raised their price objective on Northern Trust Corp. from $70.00 to $73.00 and gave the company an “underperform” rating in a report on Friday, September 23rd. Finally, Jefferies Group reissued a “hold” rating and set a $77.00 price objective on shares of Northern Trust Corp. in a report on Monday, October 10th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. Northern Trust Corp. presently has a consensus rating of “Hold” and an average price target of $72.27.
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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