FY2024 EPS Estimates for Northern Trust Raised by Analyst

Northern Trust Co. (NASDAQ:NTRS - Free Report) - Equities researchers at Seaport Res Ptn boosted their FY2024 EPS estimates for shares of Northern Trust in a note issued to investors on Wednesday, October 23rd. Seaport Res Ptn analyst J. Mitchell now forecasts that the asset manager will post earnings of $7.45 per share for the year, up from their previous estimate of $7.08. The consensus estimate for Northern Trust's current full-year earnings is $7.04 per share. Seaport Res Ptn also issued estimates for Northern Trust's Q4 2024 earnings at $1.98 EPS, Q1 2025 earnings at $1.75 EPS, Q2 2025 earnings at $1.96 EPS, Q4 2025 earnings at $2.13 EPS and FY2025 earnings at $7.80 EPS.

Several other equities research analysts also recently weighed in on NTRS. Evercore ISI raised their price objective on Northern Trust from $86.00 to $103.00 and gave the company an "in-line" rating in a report on Thursday. Deutsche Bank Aktiengesellschaft boosted their price target on Northern Trust from $84.00 to $94.00 and gave the stock a "hold" rating in a report on Monday, September 23rd. Keefe, Bruyette & Woods dropped 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 report on Thursday, June 27th. Royal Bank of Canada boosted their target price on shares of Northern Trust from $100.00 to $107.00 and gave the stock an "outperform" rating in a report on Thursday. Finally, Barclays raised their price target on shares of Northern Trust from $98.00 to $115.00 and gave the company an "equal weight" rating in a research note on Thursday. Three 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, the company presently has a consensus rating of "Hold" and an average target price of $99.33.

Northern Trust Price Performance

Northern Trust stock traded down $2.60 during mid-day trading on Friday, reaching $100.19. The company had a trading volume of 1,482,295 shares, compared to its average volume of 1,312,110. The business has a fifty day simple moving average of $90.84 and a 200 day simple moving average of $86.64. The company has a market cap of $20.50 billion, a P/E ratio of 22.12, a P/E/G ratio of 1.65 and a beta of 1.08. Northern Trust has a fifty-two week low of $63.43 and a fifty-two week high of $104.25. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58.

Institutional Investors Weigh In On Northern Trust

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Olistico Wealth LLC bought a new position in Northern Trust during the 2nd quarter valued at $25,000. Innealta Capital LLC bought a new position in shares of Northern Trust during the second quarter valued at about $26,000. Ridgewood Investments LLC purchased a new position in Northern Trust during the second quarter worth about $30,000. Versant Capital Management Inc grew its position in Northern Trust by 343.9% in the 2nd quarter. Versant Capital Management Inc now owns 435 shares of the asset manager's stock worth $37,000 after purchasing an additional 337 shares in the last quarter. Finally, Northwest Investment Counselors LLC purchased a new stake in Northern Trust in the 3rd quarter valued at about $39,000. Institutional investors and hedge funds own 83.19% of the company's stock.

Insider Buying and Selling at Northern Trust

In other Northern Trust news, EVP Teresa Parker sold 5,883 shares of Northern Trust stock in a transaction on Friday, August 9th. The shares were sold at an average price of $84.06, for a total value of $494,524.98. Following the completion of the sale, the executive vice president now directly owns 83,765 shares of the company's stock, valued at approximately $7,041,285.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP Mark C. Gossett sold 6,000 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $88.90, for a total value of $533,400.00. Following the transaction, the executive vice president now directly owns 28,707 shares in the company, valued at $2,552,052.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Teresa Parker sold 5,883 shares of the company's stock in a transaction on Friday, August 9th. The stock was sold at an average price of $84.06, for a total transaction of $494,524.98. Following the transaction, the executive vice president now owns 83,765 shares in the company, valued at approximately $7,041,285.90. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,738 shares of company stock valued at $1,191,388. 0.64% of the stock is currently owned by company insiders.

Northern Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 6th will be paid a dividend of $0.75 per share. The ex-dividend date is Friday, December 6th. This represents a $3.00 annualized dividend and a yield of 2.99%. Northern Trust's dividend payout ratio is currently 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.