FY2024 EPS Estimates for Northern Trust Co. (NASDAQ:NTRS) Increased by Analyst

Northern Trust Co. (NASDAQ:NTRS) – Investment analysts at Seaport Res Ptn boosted their FY2024 earnings estimates for shares of Northern Trust in a research note issued to investors on Tuesday, July 2nd. Seaport Res Ptn analyst J. Mitchell now anticipates that the asset manager will post earnings per share of $6.90 for the year, up from their previous forecast of $6.65. The consensus estimate for Northern Trust’s current full-year earnings is $6.92 per share. Seaport Res Ptn also issued estimates for Northern Trust’s Q1 2025 earnings at $1.56 EPS, Q2 2025 earnings at $1.81 EPS, Q3 2025 earnings at $1.80 EPS, Q4 2025 earnings at $1.89 EPS and FY2025 earnings at $7.05 EPS.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings data on Tuesday, April 16th. The asset manager reported $1.70 EPS for the quarter, beating the consensus estimate of $1.47 by $0.23. Northern Trust had a net margin of 7.59% and a return on equity of 12.57%. The firm had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.79 billion.

A number of other equities analysts have also issued reports on NTRS. Jefferies Financial Group raised their price target on shares of Northern Trust from $101.00 to $103.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Keefe, Bruyette & Woods reduced their price target on shares of Northern Trust from $92.00 to $85.00 and set a “market perform” rating for the company in a research report on Thursday, June 27th. Bank of America lifted their target price on shares of Northern Trust from $93.00 to $101.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Evercore ISI lifted their target price on shares of Northern Trust from $86.00 to $87.00 and gave the company an “in-line” rating in a report on Thursday, April 4th. Finally, The Goldman Sachs Group cut their target price on shares of Northern Trust from $94.00 to $84.00 and set a “neutral” rating for the company in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $86.42.

Northern Trust Stock Performance

NTRS opened at $84.40 on Wednesday. Northern Trust has a 12-month low of $62.44 and a 12-month high of $89.25. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $17.27 billion, a PE ratio of 18.63, a P/E/G ratio of 1.18 and a beta of 1.10. The firm has a 50 day moving average of $83.63 and a two-hundred day moving average of $83.17.

Northern Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 7th were paid a $0.75 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $3.00 dividend on an annualized basis and a yield of 3.55%. Northern Trust’s dividend payout ratio is currently 66.23%.

Insider Activity at Northern Trust

In other news, insider Steven L. Fradkin sold 4,097 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $82.56, for a total transaction of $338,248.32. Following the completion of the sale, the insider now owns 46,078 shares of the company’s stock, valued at $3,804,199.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Peter Cherecwich sold 12,000 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $87.09, for a total transaction of $1,045,080.00. Following the completion of the sale, the insider now owns 31,471 shares of the company’s stock, valued at $2,740,809.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Steven L. Fradkin sold 4,097 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $82.56, for a total transaction of $338,248.32. Following the sale, the insider now directly owns 46,078 shares of the company’s stock, valued at approximately $3,804,199.68. The disclosure for this sale can be found here. 0.64% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Northern Trust

A number of hedge funds have recently modified their holdings of the company. Ballast Inc. grew its holdings in shares of Northern Trust by 1.1% in the fourth quarter. Ballast Inc. now owns 12,208 shares of the asset manager’s stock valued at $1,030,000 after purchasing an additional 136 shares during the period. Mather Group LLC. grew its holdings in shares of Northern Trust by 3.6% in the fourth quarter. Mather Group LLC. now owns 4,271 shares of the asset manager’s stock valued at $360,000 after purchasing an additional 147 shares during the period. Aviance Capital Partners LLC grew its holdings in shares of Northern Trust by 1.8% in the fourth quarter. Aviance Capital Partners LLC now owns 8,585 shares of the asset manager’s stock valued at $724,000 after purchasing an additional 150 shares during the period. Massmutual Trust Co. FSB ADV grew its holdings in shares of Northern Trust by 23.1% in the second quarter. Massmutual Trust Co. FSB ADV now owns 805 shares of the asset manager’s stock valued at $68,000 after purchasing an additional 151 shares during the period. Finally, Diversified Trust Co grew its holdings in shares of Northern Trust by 1.9% in the fourth quarter. Diversified Trust Co now owns 8,531 shares of the asset manager’s stock valued at $720,000 after purchasing an additional 156 shares during the period. Hedge funds and other institutional investors own 83.19% of the company’s stock.

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.