Seaport Res Ptn Comments on Northern Trust Co.’s Q2 2024 Earnings (NASDAQ:NTRS)

Northern Trust Co. (NASDAQ:NTRS) – Seaport Res Ptn reduced their Q2 2024 earnings per share (EPS) estimates for Northern Trust in a note issued to investors on Thursday, April 18th. Seaport Res Ptn analyst J. Mitchell now forecasts that the asset manager will post earnings per share of $1.73 for the quarter, down from their prior forecast of $1.75. The consensus estimate for Northern Trust’s current full-year earnings is $6.82 per share. Seaport Res Ptn also issued estimates for Northern Trust’s Q3 2024 earnings at $1.57 EPS and Q4 2024 earnings at $1.65 EPS.

Other research analysts have also issued research reports about the company. Barclays raised their price objective on Northern Trust from $90.00 to $98.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 2nd. Evercore ISI raised their price objective on Northern Trust from $86.00 to $87.00 and gave the company an “in-line” rating in a research report on Thursday, April 4th. Wolfe Research lowered Northern Trust from a “peer perform” rating to an “underperform” rating and set a $85.00 price target for the company. in a research report on Wednesday, January 3rd. TheStreet upgraded Northern Trust from a “c+” rating to a “b-” rating in a research report on Friday, January 12th. Finally, Jefferies Financial Group lifted their price target on Northern Trust from $101.00 to $103.00 and gave the stock a “buy” rating in a research report on Thursday. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $84.92.

Northern Trust Trading Up 0.0 %

Shares of Northern Trust stock opened at $81.45 on Monday. The firm has a market cap of $16.62 billion, a price-to-earnings ratio of 17.98, a PEG ratio of 1.17 and a beta of 1.13. The business has a 50-day moving average price of $83.26 and a 200-day moving average price of $79.11. 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 has a twelve month low of $62.44 and a twelve month high of $89.25.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings data on Thursday, January 18th. The asset manager reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.81). The firm had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.71 billion. Northern Trust had a net margin of 7.59% and a return on equity of 12.57%. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.65 EPS.

Institutional Trading of Northern Trust

Several institutional investors and hedge funds have recently modified their holdings of NTRS. Deutsche Bank AG raised its stake in Northern Trust by 8.1% in the third quarter. Deutsche Bank AG now owns 597,143 shares of the asset manager’s stock worth $41,489,000 after buying an additional 44,516 shares in the last quarter. Financiere des Professionnels Fonds d investissement inc. increased its position in shares of Northern Trust by 51.3% during the fourth quarter. Financiere des Professionnels Fonds d investissement inc. now owns 70,384 shares of the asset manager’s stock worth $5,939,000 after purchasing an additional 23,859 shares in the last quarter. HB Wealth Management LLC acquired a new position in shares of Northern Trust during the fourth quarter worth $227,000. Nordea Investment Management AB increased its position in shares of Northern Trust by 2.4% during the third quarter. Nordea Investment Management AB now owns 12,962 shares of the asset manager’s stock worth $907,000 after purchasing an additional 305 shares in the last quarter. Finally, Pathstone Family Office LLC acquired a new position in shares of Northern Trust during the third quarter worth $715,000. Institutional investors own 83.19% of the company’s stock.

Insider Buying and Selling at Northern Trust

In other Northern Trust news, insider Steven L. Fradkin sold 30,392 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 55,707 shares in the company, valued at $4,462,687.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.64% of the company’s stock.

Northern Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be given a dividend of $0.75 per share. The ex-dividend date is Friday, June 7th. This represents a $3.00 annualized dividend and a dividend yield of 3.68%. Northern Trust’s dividend payout ratio (DPR) is presently 66.23%.

Northern Trust Company Profile

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.