Northern Trust Co. (NASDAQ:NTRS – Get Rating) – Stock analysts at Jefferies Financial Group dropped their Q2 2024 earnings per share (EPS) estimates for Northern Trust in a note issued to investors on Sunday, January 22nd. Jefferies Financial Group analyst K. Usdin now forecasts that the asset manager will post earnings of $1.78 per share for the quarter, down from their prior forecast of $1.89. The consensus estimate for Northern Trust’s current full-year earnings is $7.01 per share. Jefferies Financial Group also issued estimates for Northern Trust’s Q3 2024 earnings at $1.71 EPS, Q4 2024 earnings at $1.76 EPS and FY2024 earnings at $6.85 EPS.
Northern Trust (NASDAQ:NTRS – Get Rating) last posted its quarterly earnings results on Thursday, January 19th. The asset manager reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $1.81 by ($1.10). The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.75 billion. Northern Trust had a net margin of 17.24% and a return on equity of 14.89%. The firm’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same period last year, the firm earned $1.91 EPS.
Northern Trust Stock Up 0.2 %
NTRS stock opened at $94.77 on Tuesday. The company has a market cap of $19.75 billion, a PE ratio of 15.43 and a beta of 1.06. The business has a 50-day simple moving average of $91.47 and a 200 day simple moving average of $92.21. Northern Trust has a 52 week low of $76.15 and a 52 week high of $127.89. The company has a quick ratio of 0.67, a current ratio of 0.69 and a debt-to-equity ratio of 0.46.
Institutional Trading of Northern Trust
Several institutional investors have recently added to or reduced their stakes in NTRS. Piershale Financial Group Inc. bought a new stake in Northern Trust in the fourth quarter valued at approximately $27,000. Massmutual Trust Co. FSB ADV boosted its holdings in Northern Trust by 145.4% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 319 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 189 shares during the last quarter. Trust Co. of Vermont bought a new stake in Northern Trust in the second quarter valued at approximately $33,000. LS Investment Advisors LLC bought a new stake in Northern Trust in the second quarter valued at approximately $38,000. Finally, Clear Street Markets LLC boosted its holdings in Northern Trust by 411.8% in the second quarter. Clear Street Markets LLC now owns 435 shares of the asset manager’s stock valued at $42,000 after acquiring an additional 350 shares during the last quarter. 81.44% of the stock is currently owned by institutional investors.
Northern Trust Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, April 1st. Stockholders of record on Friday, March 10th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 3.17%. The ex-dividend date is Thursday, March 9th. Northern Trust’s dividend payout ratio is currently 48.86%.
About Northern Trust
Northern Trust Corp. is a financial holding company, which engages in the provision of asset servicing, fund administration, asset management, fiduciary, and banking solutions for corporations, institutions, families, and individuals. It operates through the following segments: Corporate & Institutional Services and Wealth Management.
- Get a free copy of the StockNews.com research report on Northern Trust (NTRS)
- Qualcomm Gets a Boost from Analysts, but is it Time to Buy?
- EVgo Stock is Charged Up to Ride the EV Adoption Wave
- High-Yield, Deep-Value Verizon Puts In A Bottom
- Should You Bet Against The Nasdaq 100 With This Inverse ETF?
- Can Coty Stock Emerge in 2023 With Upside
Receive News & Ratings for Northern Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Northern Trust and related companies with MarketBeat.com's FREE daily email newsletter.