Northern Trust Co. (NASDAQ:NTRS) Expected to Earn Q3 2024 Earnings of $1.76 Per Share

Northern Trust Co. (NASDAQ:NTRS - Free Report) - Seaport Res Ptn lifted their Q3 2024 EPS estimates for Northern Trust in a research note issued to investors on Thursday, October 3rd. Seaport Res Ptn analyst J. Mitchell now forecasts that the asset manager will post earnings per share of $1.76 for the quarter, up from their prior forecast of $1.73. The consensus estimate for Northern Trust's current full-year earnings is $7.01 per share. Seaport Res Ptn also issued estimates for Northern Trust's Q4 2024 earnings at $1.85 EPS, FY2024 earnings at $7.08 EPS, Q1 2025 earnings at $1.64 EPS, Q4 2025 earnings at $1.97 EPS and FY2025 earnings at $7.35 EPS.

Several other research firms have also commented on NTRS. Keefe, Bruyette & Woods lowered their price objective on shares of Northern Trust from $92.00 to $85.00 and set a "market perform" rating for the company in a research note on Thursday, June 27th. Royal Bank of Canada raised their price objective on shares of Northern Trust from $86.00 to $90.00 and gave the company an "outperform" rating in a research note on Thursday, July 18th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Northern Trust from $84.00 to $94.00 and gave the stock a "hold" rating in a research note on Monday, September 23rd. The Goldman Sachs Group cut shares of Northern Trust from a "neutral" rating to a "sell" rating and lowered their price target for the stock from $84.00 to $82.00 in a report on Thursday, September 26th. Finally, Morgan Stanley boosted their price target on shares of Northern Trust from $93.00 to $97.00 and gave the stock an "underweight" rating in a report on Monday. Three investment 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 stock currently has an average rating of "Hold" and an average price target of $89.75.

Northern Trust Stock Up 2.1 %

Shares of NASDAQ NTRS traded up $1.89 during midday trading on Friday, hitting $90.46. The company's stock had a trading volume of 929,150 shares, compared to its average volume of 1,307,611. The business's fifty day simple moving average is $88.03 and its two-hundred day simple moving average is $85.77. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71. Northern Trust has a 1 year low of $62.44 and a 1 year high of $92.82. The firm has a market capitalization of $18.51 billion, a price-to-earnings ratio of 19.55, a price-to-earnings-growth ratio of 1.53 and a beta of 1.08.

Northern Trust (NASDAQ:NTRS - Get Free Report) last announced its quarterly earnings results on Wednesday, July 17th. The asset manager reported $1.78 earnings per share for the quarter, beating analysts' consensus estimates of $1.75 by $0.03. Northern Trust had a net margin of 10.53% and a return on equity of 12.24%. The business had revenue of $2.72 billion during the quarter, compared to analysts' expectations of $1.84 billion. During the same period last year, the business earned $1.79 earnings per share. The business's revenue for the quarter was up 53.8% on a year-over-year basis.

Northern Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 6th were paid a $0.75 dividend. The ex-dividend date was Friday, September 6th. This represents a $3.00 dividend on an annualized basis and a yield of 3.32%. Northern Trust's payout ratio is 66.23%.

Insider Activity at Northern Trust

In related news, Director Charles A. Tribbett sold 1,855 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $88.12, for a total value of $163,462.60. Following the sale, the director now directly owns 1,000 shares of the company's stock, valued at approximately $88,120. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Northern Trust news, EVP Mark C. Gossett sold 6,000 shares of the firm's stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $88.90, for a total transaction of $533,400.00. Following the sale, the executive vice president now directly owns 28,707 shares of the company's stock, valued at $2,552,052.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Charles A. Tribbett sold 1,855 shares of the firm's stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $88.12, for a total transaction of $163,462.60. Following the sale, the director now directly owns 1,000 shares in the company, valued at $88,120. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,738 shares of company stock valued at $1,191,388. Insiders own 0.64% of the company's stock.

Institutional Investors Weigh In On Northern Trust

Hedge funds have recently modified their holdings of the company. Olistico Wealth LLC purchased a new position in shares of Northern Trust during the 2nd quarter worth about $25,000. Innealta Capital LLC purchased a new stake in shares of Northern Trust during the second quarter valued at approximately $26,000. Spartan Planning & Wealth Management boosted its holdings in Northern Trust by 10,566.7% in the fourth quarter. Spartan Planning & Wealth Management now owns 320 shares of the asset manager's stock worth $27,000 after purchasing an additional 317 shares during the period. Ridgewood Investments LLC acquired a new position in shares of Northern Trust during the second quarter valued at $30,000. Finally, Versant Capital Management Inc raised its stake in shares of Northern Trust by 343.9% during the second quarter. Versant Capital Management Inc now owns 435 shares of the asset manager's stock valued at $37,000 after purchasing an additional 337 shares in the last quarter. 83.19% of the stock is owned by institutional investors and hedge funds.

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.