FY2017 Earnings Estimate for Northern Trust Co. Issued By Jefferies Group (NASDAQ:NTRS)

Northern Trust Co. (NASDAQ:NTRS) – Investment analysts at Jefferies Group reduced their FY2017 earnings estimates for Northern Trust in a research report issued to clients and investors on Tuesday, Zacks Investment Research reports. Jefferies Group analyst K. Usdin now forecasts that the asset manager will earn $4.71 per share for the year, down from their previous forecast of $4.72. Jefferies Group also issued estimates for Northern Trust’s Q4 2017 earnings at $1.31 EPS, FY2018 earnings at $6.25 EPS and FY2019 earnings at $6.80 EPS.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings data on Wednesday, October 18th. The asset manager reported $1.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.12 by $0.08. The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.35 billion. Northern Trust had a net margin of 20.27% and a return on equity of 12.33%. The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.11 EPS.

A number of other equities analysts have also recently issued reports on NTRS. Zacks Investment Research upgraded shares of Northern Trust from a “sell” rating to a “hold” rating in a research report on Monday, September 25th. Citigroup reiterated a “neutral” rating and set a $92.00 price objective (up from $90.00) on shares of Northern Trust in a research report on Monday, October 9th. UBS Group upped their price objective on shares of Northern Trust from $100.00 to $109.00 and gave the stock a “buy” rating in a research report on Thursday, October 19th. Buckingham Research upped their price objective on shares of Northern Trust from $95.00 to $97.00 and gave the stock a “neutral” rating in a research report on Thursday, October 19th. Finally, Morgan Stanley upped their price objective on shares of Northern Trust from $83.00 to $91.00 and gave the stock an “underweight” rating in a research report on Thursday, October 19th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $100.20.

Northern Trust (NASDAQ:NTRS) opened at $106.89 on Thursday. The stock has a market cap of $24,245.36, a P/E ratio of 23.65, a P/E/G ratio of 1.59 and a beta of 0.97. Northern Trust has a 12-month low of $81.92 and a 12-month high of $108.04. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.37.

In other news, EVP Clair Joyce St sold 18,489 shares of the company’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $97.51, for a total value of $1,802,862.39. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Vice Chairman William L. Morrison sold 11,058 shares of the company’s stock in a transaction on Wednesday, October 25th. The shares were sold at an average price of $94.34, for a total transaction of $1,043,211.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 137,753 shares of company stock valued at $13,433,361. Corporate insiders own 1.27% of the company’s stock.

Several large investors have recently bought and sold shares of NTRS. Commonwealth Bank of Australia boosted its stake in shares of Northern Trust by 20.1% in the 2nd quarter. Commonwealth Bank of Australia now owns 22,058 shares of the asset manager’s stock valued at $2,143,000 after purchasing an additional 3,688 shares during the last quarter. AXA boosted its stake in shares of Northern Trust by 135.9% in the 2nd quarter. AXA now owns 88,700 shares of the asset manager’s stock valued at $8,622,000 after purchasing an additional 51,100 shares during the last quarter. Aberdeen Asset Management PLC UK boosted its stake in shares of Northern Trust by 10.9% in the 2nd quarter. Aberdeen Asset Management PLC UK now owns 57,135 shares of the asset manager’s stock valued at $5,554,000 after purchasing an additional 5,627 shares during the last quarter. Alliancebernstein L.P. boosted its stake in Northern Trust by 30.2% during the second quarter. Alliancebernstein L.P. now owns 719,767 shares of the asset manager’s stock worth $69,969,000 after acquiring an additional 167,059 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in Northern Trust by 6.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,960 shares of the asset manager’s stock worth $579,000 after acquiring an additional 379 shares in the last quarter. 81.70% of the stock is currently owned by institutional investors.

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About Northern Trust

Northern Trust Corporation is a financial holding company. The Company provides asset servicing, fund administration, asset management, fiduciary and banking solutions for corporations, institutions, families and individuals across the world. Its segments include Corporate & Institutional Services (C&IS), Wealth Management, and Treasury and Other.

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