Q3 2024 EPS Estimates for Northern Trust Co. Boosted by Analyst (NASDAQ:NTRS)

Northern Trust Co. (NASDAQ:NTRS) – Research analysts at Seaport Res Ptn increased their Q3 2024 EPS estimates for Northern Trust in a research note issued to investors on Thursday, April 4th. Seaport Res Ptn analyst J. Mitchell now forecasts that the asset manager will earn $1.62 per share for the quarter, up from their previous estimate of $1.52. The consensus estimate for Northern Trust’s current full-year earnings is $6.42 per share.

Northern Trust (NASDAQ:NTRS) last announced its earnings results on Thursday, January 18th. The asset manager reported $0.52 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.81). Northern Trust had a net margin of 9.14% and a return on equity of 12.44%. The firm had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter last year, the company posted $1.65 earnings per share. Northern Trust’s revenue for the quarter was up 1.9% compared to the same quarter last year.

A number of other research analysts also recently commented on NTRS. Morgan Stanley reaffirmed an “underweight” rating and set a $86.00 target price (up previously from $82.00) on shares of Northern Trust in a report on Tuesday, January 30th. UBS Group boosted their price target on Northern Trust from $72.00 to $84.00 and gave the company a “neutral” rating in a report on Tuesday, January 9th. Wolfe Research downgraded Northern Trust from a “peer perform” rating to an “underperform” rating and set a $85.00 price target for the company. in a report on Wednesday, January 3rd. Jefferies Financial Group upgraded Northern Trust from a “hold” rating to a “buy” rating and boosted their price target for the company from $68.00 to $99.00 in a report on Tuesday, January 9th. Finally, TheStreet upgraded Northern Trust from a “c+” rating to a “b-” rating in a report on Friday, January 12th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $84.21.

Northern Trust Stock Performance

Shares of Northern Trust stock opened at $88.12 on Monday. The firm has a market cap of $17.98 billion, a PE ratio of 17.35, a price-to-earnings-growth ratio of 1.87 and a beta of 1.13. Northern Trust has a 1 year low of $62.44 and a 1 year high of $90.59. The firm’s 50-day simple moving average is $82.70 and its 200-day simple moving average is $78.30. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.71 and a current ratio of 0.71.

Northern Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 8th were given a $0.75 dividend. The ex-dividend date was Thursday, March 7th. This represents a $3.00 dividend on an annualized basis and a yield of 3.40%. Northern Trust’s dividend payout ratio is presently 59.06%.

Insider Buying and Selling at Northern Trust

In other news, insider Steven L. Fradkin sold 30,392 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $80.11, for a total value of $2,434,703.12. Following the completion of the sale, the insider now directly owns 55,707 shares of the company’s stock, valued at approximately $4,462,687.77. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.64% of the stock is owned by corporate insiders.

Institutional Trading of Northern Trust

Institutional investors have recently modified their holdings of the company. Wellington Management Group LLP raised its position in Northern Trust by 140.2% in the fourth quarter. Wellington Management Group LLP now owns 5,802,792 shares of the asset manager’s stock worth $489,640,000 after acquiring an additional 3,387,002 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Northern Trust by 31.2% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 6,533,855 shares of the asset manager’s stock worth $551,327,000 after purchasing an additional 1,553,783 shares in the last quarter. Norges Bank acquired a new stake in Northern Trust during the fourth quarter valued at approximately $134,901,000. Goldman Sachs Group Inc. boosted its holdings in Northern Trust by 31.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 6,080,885 shares of the asset manager’s stock worth $513,105,000 after buying an additional 1,468,262 shares in the last quarter. Finally, Confluence Investment Management LLC bought a new stake in Northern Trust during the first quarter worth approximately $105,665,000. Institutional investors and hedge funds own 83.19% of the company’s stock.

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.