Northern Trust (NASDAQ:NTRS) Hits New 1-Year High After Dividend Announcement

Northern Trust Co. (NASDAQ:NTRS) shares hit a new 52-week high on Wednesday after the company announced a dividend. The stock traded as high as $100.51 and last traded at $100.51, with a volume of 13209 shares changing hands. The stock had previously closed at $95.79.

The newly announced dividend which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 6th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.92%. The ex-dividend date of this dividend is Friday, December 6th. Northern Trust’s dividend payout ratio is presently 41.04%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. The Goldman Sachs Group downgraded Northern Trust from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $84.00 to $82.00 in a report on Thursday, September 26th. Evercore ISI lifted their price target on Northern Trust from $86.00 to $103.00 and gave the stock an “in-line” rating in a research note on Thursday. Wells Fargo & Company increased their price objective on Northern Trust from $92.00 to $108.00 and gave the company an “equal weight” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Northern Trust from $84.00 to $94.00 and gave the stock a “hold” rating in a research note on Monday, September 23rd. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Northern Trust from $92.00 to $85.00 and set a “market perform” rating for the company in a research report on Thursday, June 27th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $99.33.

Northern Trust Price Performance

The stock has a market cap of $20.73 billion, a P/E ratio of 14.06, a price-to-earnings-growth ratio of 1.65 and a beta of 1.08. The business’s 50 day moving average price is $90.51 and its two-hundred day moving average price is $86.53. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58.

Insiders Place Their Bets

In other Northern Trust news, Director Charles A. Tribbett sold 1,855 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $88.12, for a total transaction of $163,462.60. Following the transaction, the director now owns 1,000 shares in the company, valued at approximately $88,120. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Teresa Parker sold 5,883 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $84.06, for a total transaction of $494,524.98. Following the sale, the executive vice president now owns 83,765 shares in the company, valued at approximately $7,041,285.90. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Charles A. Tribbett sold 1,855 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $88.12, for a total transaction of $163,462.60. Following the completion of the transaction, the director now owns 1,000 shares of the company’s stock, valued at approximately $88,120. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,738 shares of company stock worth $1,191,388 over the last three months. Company insiders own 0.64% of the company’s stock.

Hedge Funds Weigh In On Northern Trust

Institutional investors and hedge funds have recently made changes to their positions in the business. Olistico Wealth LLC purchased a new stake in shares of Northern Trust in the 2nd quarter worth approximately $25,000. Innealta Capital LLC bought a new position in Northern Trust in the 2nd quarter worth about $26,000. Ridgewood Investments LLC purchased a new stake in Northern Trust during the 2nd quarter valued at about $30,000. Northwest Investment Counselors LLC bought a new stake in Northern Trust during the 3rd quarter valued at about $39,000. Finally, Versant Capital Management Inc increased its stake in Northern Trust by 343.9% during the 2nd quarter. Versant Capital Management Inc now owns 435 shares of the asset manager’s stock valued at $37,000 after purchasing an additional 337 shares in the last quarter. Institutional investors own 83.19% of the company’s stock.

Northern Trust Company Profile

Northern Trust Corporation, a financial holding company, provides wealth management, asset servicing, asset management, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates in two segments, Asset Servicing and Wealth Management. The Asset Servicing segment offers asset servicing and related services, including custody, fund administration, investment operations outsourcing, investment management, investment risk and analytical services, employee benefit services, securities lending, foreign exchange, treasury management, brokerage services, transition management services, banking, and cash management services.