FY2024 Earnings Estimate for Northern Trust Co. (NASDAQ:NTRS) Issued By Seaport Res Ptn

Northern Trust Co. (NASDAQ:NTRS) – Equities researchers at Seaport Res Ptn upped their FY2024 earnings per share estimates for shares of Northern Trust in a research note issued to investors on Thursday, April 18th. Seaport Res Ptn analyst J. Mitchell now expects that the asset manager will post earnings of $6.65 per share for the year, up from their previous estimate of $6.55. The consensus estimate for Northern Trust’s current full-year earnings is $6.73 per share. Seaport Res Ptn also issued estimates for Northern Trust’s Q1 2025 earnings at $1.50 EPS, Q2 2025 earnings at $1.76 EPS, Q3 2025 earnings at $1.76 EPS, Q4 2025 earnings at $1.84 EPS and FY2025 earnings at $6.85 EPS.

Several other research analysts have also weighed in on NTRS. TheStreet raised Northern Trust from a “c+” rating to a “b-” rating in a research report on Friday, January 12th. Royal Bank of Canada boosted their target price on Northern Trust from $82.00 to $86.00 and gave the stock an “outperform” rating in a report on Friday, January 19th. Morgan Stanley reissued an “underweight” rating and set a $86.00 target price (up from $82.00) on shares of Northern Trust in a report on Tuesday, January 30th. Jefferies Financial Group boosted their target price on Northern Trust from $101.00 to $103.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Bank of America boosted their target price on Northern Trust from $93.00 to $101.00 and gave the stock a “buy” rating in a report on Wednesday. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Northern Trust has an average rating of “Hold” and an average target price of $84.92.

Northern Trust Stock Up 0.0 %

NASDAQ:NTRS opened at $81.45 on Friday. The firm has a market capitalization of $16.62 billion, a price-to-earnings ratio of 17.98, a price-to-earnings-growth ratio of 1.64 and a beta of 1.13. Northern Trust has a twelve month low of $62.44 and a twelve month high of $89.25. The stock’s 50 day moving average price is $83.26 and its two-hundred day moving average price is $78.93. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.61.

Northern Trust (NASDAQ:NTRS) last posted its quarterly 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). The company had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.71 billion. Northern Trust had a return on equity of 12.57% and a net margin of 7.59%. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period last year, the firm earned $1.65 EPS.

Institutional Trading of Northern Trust

A number of institutional investors have recently modified their holdings of the stock. First Trust Direct Indexing L.P. lifted its position in shares of Northern Trust by 4.5% during the 1st quarter. First Trust Direct Indexing L.P. now owns 4,257 shares of the asset manager’s stock valued at $379,000 after acquiring an additional 182 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Northern Trust by 0.8% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 490,487 shares of the asset manager’s stock valued at $43,614,000 after acquiring an additional 3,861 shares during the period. Tributary Capital Management LLC bought a new stake in shares of Northern Trust during the 1st quarter valued at $53,000. Claro Advisors LLC lifted its position in shares of Northern Trust by 18.3% during the 1st quarter. Claro Advisors LLC now owns 9,439 shares of the asset manager’s stock worth $839,000 after buying an additional 1,460 shares during the last quarter. Finally, Diversified Trust Co lifted its position in shares of Northern Trust by 98.3% during the 1st quarter. Diversified Trust Co now owns 16,914 shares of the asset manager’s stock worth $1,504,000 after buying an additional 8,383 shares during the last quarter. 83.19% of the stock is currently owned by institutional investors.

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 on Thursday, February 22nd. The stock was sold at an average price of $80.11, for a total transaction of $2,434,703.12. Following the completion of the sale, the insider now directly owns 55,707 shares in the company, valued at approximately $4,462,687.77. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.64% of the company’s stock.

Northern Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date is Friday, June 7th. Northern Trust’s dividend payout ratio is 66.23%.

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.