Analysts Issue Forecasts for Northern Trust Co.’s Q3 2022 Earnings (NASDAQ:NTRS)

Northern Trust Co. (NASDAQ:NTRSGet Rating) – Research analysts at Seaport Res Ptn decreased their Q3 2022 EPS estimates for shares of Northern Trust in a research note issued on Tuesday, April 26th. Seaport Res Ptn analyst J. Mitchell now anticipates that the asset manager will post earnings per share of $2.00 for the quarter, down from their prior estimate of $2.11. Seaport Res Ptn currently has a “Buy” rating on the stock. Seaport Res Ptn also issued estimates for Northern Trust’s Q1 2023 earnings at $2.13 EPS and Q4 2023 earnings at $2.50 EPS.

Northern Trust (NASDAQ:NTRSGet Rating) last announced its earnings results on Tuesday, April 26th. The asset manager reported $1.77 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.64 by $0.13. Northern Trust had a return on equity of 14.16% and a net margin of 23.82%. The business had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.69 billion. During the same period in the prior year, the business posted $1.70 earnings per share. The firm’s revenue was up 8.5% on a year-over-year basis.

NTRS has been the topic of a number of other reports. Citigroup cut their price target on Northern Trust from $140.00 to $130.00 in a report on Tuesday, January 25th. The Goldman Sachs Group upgraded Northern Trust from a “neutral” rating to a “buy” rating and increased their price target for the stock from $128.00 to $141.00 in a report on Wednesday, March 30th. StockNews.com began coverage on Northern Trust in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Keefe, Bruyette & Woods raised Northern Trust from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $130.00 to $152.00 in a research report on Monday, January 10th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Northern Trust from $149.00 to $145.00 in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $129.75.

Shares of NTRS stock opened at $107.76 on Thursday. The business’s 50 day simple moving average is $112.85 and its 200 day simple moving average is $118.64. Northern Trust has a one year low of $102.39 and a one year high of $135.15. The stock has a market capitalization of $22.41 billion, a PE ratio of 15.11 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.

Several hedge funds have recently bought and sold shares of the company. Mercer Global Advisors Inc. ADV grew its stake in shares of Northern Trust by 1.7% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 5,379 shares of the asset manager’s stock worth $643,000 after acquiring an additional 91 shares during the period. Veritable L.P. boosted its stake in Northern Trust by 0.7% in the 3rd quarter. Veritable L.P. now owns 13,502 shares of the asset manager’s stock worth $1,456,000 after purchasing an additional 92 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. boosted its stake in Northern Trust by 2.0% in the 3rd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 5,109 shares of the asset manager’s stock worth $551,000 after purchasing an additional 99 shares during the period. Kentucky Retirement Systems boosted its stake in Northern Trust by 0.8% in the 4th quarter. Kentucky Retirement Systems now owns 12,592 shares of the asset manager’s stock worth $1,506,000 after purchasing an additional 99 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. boosted its stake in Northern Trust by 1.8% in the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,594 shares of the asset manager’s stock worth $603,000 after purchasing an additional 100 shares during the period. Institutional investors own 80.02% of the company’s stock.

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

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 1st. Stockholders of record on Friday, June 10th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.60%. The ex-dividend date of this dividend is Thursday, June 9th. Northern Trust’s dividend payout ratio is presently 39.27%.

Northern Trust Company Profile (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.

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Earnings History and Estimates for Northern Trust (NASDAQ:NTRS)

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