Northern Trust (NASDAQ:NTRS) Releases Earnings Results, Beats Estimates By $0.03 EPS

Northern Trust (NASDAQ:NTRS) issued its earnings results on Wednesday. The asset manager reported $1.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.03, Yahoo Finance reports. The company had revenue of $2.72 billion for the quarter, compared to analysts’ expectations of $1.84 billion. Northern Trust had a return on equity of 12.24% and a net margin of 10.53%. Northern Trust’s quarterly revenue was up 53.8% compared to the same quarter last year. During the same period last year, the business earned $1.79 EPS.

Northern Trust Price Performance

NTRS stock opened at $86.23 on Friday. The firm has a 50 day moving average of $84.09 and a 200-day moving average of $83.32. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $17.64 billion, a P/E ratio of 19.04, a price-to-earnings-growth ratio of 1.21 and a beta of 1.10. Northern Trust has a 12 month low of $62.44 and a 12 month high of $92.46.

Northern Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date of this dividend is Friday, September 6th. Northern Trust’s payout ratio is 66.23%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Jefferies Financial Group lifted their price objective on shares of Northern Trust from $101.00 to $103.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Bank of America boosted their price objective on Northern Trust from $93.00 to $101.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Evercore ISI raised their target price on Northern Trust from $86.00 to $87.00 and gave the company an “in-line” rating in a report on Thursday, April 4th. The Goldman Sachs Group reduced their price objective on shares of Northern Trust from $94.00 to $84.00 and set a “neutral” rating for the company in a research report on Tuesday, July 2nd. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Northern Trust from $92.00 to $85.00 and set a “market perform” rating on the stock in a research report on Thursday, June 27th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $86.75.

Insiders Place Their Bets

In other news, insider Peter Cherecwich sold 12,000 shares of the business’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 transaction, the insider now directly owns 31,471 shares in the company, valued at approximately $2,740,809.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Steven L. Fradkin sold 4,097 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $82.56, for a total value of $338,248.32. Following the sale, the insider now directly owns 46,078 shares of the company’s stock, valued at $3,804,199.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Peter Cherecwich sold 12,000 shares of Northern Trust stock in a transaction that occurred 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 sale, the insider now owns 31,471 shares of the company’s stock, valued at $2,740,809.39. The disclosure for this sale can be found here. Corporate insiders own 0.64% 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.