Q3 2024 EPS Estimates for Northern Trust Co. (NASDAQ:NTRS) Raised by Seaport Res Ptn

Northern Trust Co. (NASDAQ:NTRS) – Research analysts at Seaport Res Ptn boosted their Q3 2024 earnings per share estimates for shares of Northern Trust in a report released on Thursday, July 18th. Seaport Res Ptn analyst J. Mitchell now anticipates that the asset manager will post earnings of $1.73 per share for the quarter, up from their previous forecast of $1.71. The consensus estimate for Northern Trust’s current full-year earnings is $6.97 per share. Seaport Res Ptn also issued estimates for Northern Trust’s Q4 2024 earnings at $1.84 EPS, Q1 2025 earnings at $1.62 EPS, Q2 2025 earnings at $1.89 EPS, Q3 2025 earnings at $1.86 EPS, Q4 2025 earnings at $1.93 EPS and FY2025 earnings at $7.30 EPS.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings data on Wednesday, July 17th. The asset manager reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.03. The company had revenue of $2.72 billion during the quarter, compared to analyst estimates of $1.84 billion. Northern Trust had a return on equity of 12.24% and a net margin of 10.53%. The firm’s revenue for the quarter was up 53.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.79 earnings per share.

Other analysts have also issued reports about the stock. Royal Bank of Canada boosted their price target on shares of Northern Trust from $86.00 to $90.00 and gave the stock an “outperform” rating in a research note on Thursday, July 18th. Evercore ISI lifted their price target on Northern Trust from $86.00 to $87.00 and gave the stock an “in-line” rating in a report on Thursday, April 4th. The Goldman Sachs Group lowered their price target on Northern Trust from $94.00 to $84.00 and set a “neutral” rating for the company in a report on Tuesday, July 2nd. Jefferies Financial Group lifted their price target on shares of Northern Trust from $101.00 to $103.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Finally, Keefe, Bruyette & Woods reduced their price objective on 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. 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 company’s stock. According to data from MarketBeat, Northern Trust currently has a consensus rating of “Hold” and an average target price of $86.75.

Northern Trust Stock Down 0.8 %

Northern Trust stock opened at $86.45 on Monday. Northern Trust has a fifty-two week low of $62.44 and a fifty-two week high of $92.46. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a 50 day moving average price of $84.10 and a 200 day moving average price of $83.38. The company has a market capitalization of $17.69 billion, a PE ratio of 19.08, a price-to-earnings-growth ratio of 1.28 and a beta of 1.10.

Northern Trust Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $3.00 annualized dividend and a dividend yield of 3.47%. Northern Trust’s payout ratio is currently 66.23%.

Insiders Place Their Bets

In other Northern Trust news, insider Steven L. Fradkin sold 4,097 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 46,078 shares in the company, valued at approximately $3,804,199.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Northern Trust news, insider Steven L. Fradkin sold 4,097 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $82.56, for a total value of $338,248.32. Following the transaction, the insider now directly owns 46,078 shares in the company, valued at approximately $3,804,199.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Peter Cherecwich sold 12,000 shares of Northern Trust stock in a transaction dated Wednesday, May 15th. The stock was 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. 0.64% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of NTRS. Nordea Investment Management AB raised its holdings in Northern Trust by 4.9% in the fourth quarter. Nordea Investment Management AB now owns 13,599 shares of the asset manager’s stock valued at $1,149,000 after buying an additional 637 shares during the period. Brookstone Capital Management grew its stake in shares of Northern Trust by 4.1% during the fourth quarter. Brookstone Capital Management now owns 8,233 shares of the asset manager’s stock valued at $695,000 after acquiring an additional 327 shares in the last quarter. Fortitude Family Office LLC purchased a new stake in Northern Trust during the 4th quarter worth approximately $28,000. HB Wealth Management LLC acquired a new position in shares of Northern Trust in the 4th quarter valued at approximately $227,000. Finally, Carlson Capital Management acquired a new stake in Northern Trust in the fourth quarter valued at $290,000. 83.19% of the stock is currently owned by hedge funds and other institutional investors.

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.