Northern Trust (NASDAQ:NTRS) Sets New 1-Year High Following Dividend Announcement

Northern Trust Co. (NASDAQ:NTRS)’s stock price reached a new 52-week high on Wednesday following a dividend announcement from the company. The stock traded as high as $100.51 and last traded at $100.51, with a volume of 13209 shares trading 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 given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date is Friday, December 6th. Northern Trust’s dividend payout ratio (DPR) is presently 41.04%.

Analyst Ratings Changes

A number of research firms have recently issued reports on NTRS. Evercore ISI raised their price objective on Northern Trust from $86.00 to $103.00 and gave the company an “in-line” rating in a research report on Thursday. Morgan Stanley boosted their target price on shares of Northern Trust from $97.00 to $103.00 and gave the company an “underweight” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft upped their price target on shares of Northern Trust from $84.00 to $94.00 and gave the company a “hold” rating in a research note on Monday, September 23rd. Barclays lifted their price objective on shares of Northern Trust from $98.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Thursday. Finally, UBS Group raised their target price on shares of Northern Trust from $86.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, October 8th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $99.33.

Northern Trust Trading Up 0.3 %

The firm has a 50-day moving average of $90.51 and a two-hundred day moving average of $86.53. The firm has a market capitalization of $20.73 billion, a P/E ratio of 14.06, a P/E/G ratio of 1.65 and a beta of 1.08. 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 related news, EVP Teresa Parker sold 5,883 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 83,765 shares in the company, valued at $7,041,285.90. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Teresa Parker sold 5,883 shares of the business’s stock in a transaction on Friday, August 9th. The stock was 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 $7,041,285.90. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Charles A. Tribbett sold 1,855 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $88.12, for a total value of $163,462.60. Following the completion of the transaction, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $88,120. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,738 shares of company stock valued at $1,191,388. 0.64% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Northern Trust

A number of institutional investors have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Northern Trust by 2.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 12,861 shares of the asset manager’s stock worth $1,144,000 after purchasing an additional 302 shares during the period. Romano Brothers AND Company raised its position in shares of Northern Trust by 11.2% during the first quarter. Romano Brothers AND Company now owns 5,450 shares of the asset manager’s stock worth $485,000 after acquiring an additional 548 shares during the last quarter. Aviance Capital Partners LLC lifted its stake in shares of Northern Trust by 8.3% in the first quarter. Aviance Capital Partners LLC now owns 9,301 shares of the asset manager’s stock worth $827,000 after acquiring an additional 716 shares during the period. Diversified Trust Co boosted its holdings in Northern Trust by 98.3% in the first quarter. Diversified Trust Co now owns 16,914 shares of the asset manager’s stock valued at $1,504,000 after acquiring an additional 8,383 shares during the last quarter. Finally, Claro Advisors LLC increased its position in Northern Trust by 18.3% during the 1st quarter. Claro Advisors LLC now owns 9,439 shares of the asset manager’s stock valued at $839,000 after purchasing an additional 1,460 shares during the period. 83.19% of the stock is owned by institutional investors.

About Northern Trust

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.