Northern Trust (NASDAQ:NTRS) Releases Quarterly Earnings Results, Beats Estimates By $0.13 EPS

Northern Trust (NASDAQ:NTRSGet Rating) released its quarterly earnings data on Tuesday. The asset manager reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.13, MarketWatch Earnings reports. The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.69 billion. Northern Trust had a return on equity of 14.16% and a net margin of 23.82%. The company’s revenue was up 8.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.70 EPS.

NASDAQ:NTRS traded up $3.17 during midday trading on Tuesday, reaching $108.93. 25,802 shares of the company traded hands, compared to its average volume of 990,028. Northern Trust has a twelve month low of $102.39 and a twelve month high of $135.15. The firm has a market capitalization of $22.65 billion, a price-to-earnings ratio of 14.83 and a beta of 1.12. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.69 and a quick ratio of 0.69. The company has a fifty day moving average price of $113.43 and a 200 day moving average price of $118.80.

Several equities research analysts recently commented on the company. Barclays raised their target price on Northern Trust from $131.00 to $133.00 in a report on Monday, January 3rd. Morgan Stanley dropped their price objective on Northern Trust from $135.00 to $126.00 and set an “equal weight” rating on the stock in a report on Monday, March 28th. StockNews.com began coverage on Northern Trust in a report on Thursday, March 31st. They set a “hold” rating on the stock. Seaport Res Ptn upgraded Northern Trust from a “neutral” rating to a “buy” rating in a report on Wednesday, January 5th. Finally, The Goldman Sachs Group upgraded Northern Trust from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $128.00 to $141.00 in a report on Wednesday, March 30th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $130.00.

In other Northern Trust news, EVP Lauren E. Allnutt sold 393 shares of the business’s stock in a transaction on Thursday, March 10th. The stock was sold at an average price of $105.61, for a total transaction of $41,504.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jason J. Tyler sold 1,936 shares of the business’s stock in a transaction on Monday, January 31st. The stock was sold at an average price of $115.60, for a total value of $223,801.60. The disclosure for this sale can be found here. Insiders own 0.55% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Parametric Portfolio Associates LLC raised its position in shares of Northern Trust by 6.8% during the fourth quarter. Parametric Portfolio Associates LLC now owns 637,001 shares of the asset manager’s stock worth $76,192,000 after purchasing an additional 40,740 shares during the period. Barclays PLC grew its stake in Northern Trust by 10.2% in the fourth quarter. Barclays PLC now owns 582,775 shares of the asset manager’s stock valued at $69,705,000 after purchasing an additional 53,822 shares in the last quarter. California State Teachers Retirement System grew its stake in Northern Trust by 0.7% in the fourth quarter. California State Teachers Retirement System now owns 354,744 shares of the asset manager’s stock valued at $42,431,000 after purchasing an additional 2,598 shares in the last quarter. Comerica Bank grew its stake in Northern Trust by 5.1% in the fourth quarter. Comerica Bank now owns 32,956 shares of the asset manager’s stock valued at $3,803,000 after purchasing an additional 1,589 shares in the last quarter. Finally, Metropolitan Life Insurance Co NY grew its stake in Northern Trust by 16.3% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 23,687 shares of the asset manager’s stock valued at $2,833,000 after purchasing an additional 3,324 shares in the last quarter. Institutional investors and hedge funds own 80.02% of the company’s stock.

About Northern Trust (Get Rating)

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, Corporate & Institutional Services (C&IS) and Wealth Management.

See Also

Earnings History for Northern Trust (NASDAQ:NTRS)

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.