Q3 2024 Earnings Estimate for Northern Trust Co. (NASDAQ:NTRS) Issued By Seaport Res Ptn

Northern Trust Co. (NASDAQ:NTRS) – Research analysts at Seaport Res Ptn upped their Q3 2024 earnings estimates for shares of Northern Trust in a research report issued on Thursday, October 3rd. Seaport Res Ptn analyst J. Mitchell now anticipates that the asset manager will post earnings of $1.76 per share for the quarter, up from their prior estimate of $1.73. The consensus estimate for Northern Trust’s current full-year earnings is $7.01 per share. Seaport Res Ptn also issued estimates for Northern Trust’s Q4 2024 earnings at $1.85 EPS, FY2024 earnings at $7.08 EPS, Q1 2025 earnings at $1.64 EPS, Q4 2025 earnings at $1.97 EPS and FY2025 earnings at $7.35 EPS.

Other equities analysts have also issued reports about the company. Keefe, Bruyette & Woods dropped their price target on Northern Trust from $92.00 to $85.00 and set a “market perform” rating on the stock in a research note on Thursday, June 27th. The Goldman Sachs Group downgraded shares of Northern Trust from a “neutral” rating to a “sell” rating and dropped their target price for the company from $84.00 to $82.00 in a research report on Thursday, September 26th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Northern Trust from $84.00 to $94.00 and gave the stock a “hold” rating in a report on Monday, September 23rd. Royal Bank of Canada upped their price objective on shares of Northern Trust from $86.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday, July 18th. Finally, Morgan Stanley increased their price objective on shares of Northern Trust from $93.00 to $97.00 and gave the stock an “underweight” rating in a research report on Monday, September 30th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Northern Trust presently has a consensus rating of “Hold” and an average price target of $89.75.

Northern Trust Stock Up 2.1 %

Shares of Northern Trust stock opened at $90.46 on Friday. The stock’s 50-day moving average is $88.06 and its 200 day moving average is $85.86. Northern Trust has a one year low of $62.44 and a one year high of $92.82. The firm has a market cap of $18.51 billion, a price-to-earnings ratio of 19.97, a PEG ratio of 1.53 and a beta of 1.08. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71.

Northern Trust (NASDAQ:NTRS) last released its earnings results on Wednesday, July 17th. The asset manager reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.03. Northern Trust had a net margin of 10.53% and a return on equity of 12.24%. The business had revenue of $2.72 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same quarter in the previous year, the business earned $1.79 earnings per share. Northern Trust’s revenue for the quarter was up 53.8% on a year-over-year basis.

Hedge Funds Weigh In On Northern Trust

Several institutional investors have recently modified their holdings of NTRS. Czech National Bank boosted its holdings in shares of Northern Trust by 5.4% in the 3rd quarter. Czech National Bank now owns 41,075 shares of the asset manager’s stock worth $3,698,000 after buying an additional 2,088 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its stake in Northern Trust by 14.5% in the third quarter. Massmutual Trust Co. FSB ADV now owns 922 shares of the asset manager’s stock valued at $83,000 after acquiring an additional 117 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in Northern Trust in the second quarter valued at about $1,622,000. Quarry LP bought a new position in shares of Northern Trust during the 2nd quarter valued at approximately $130,000. Finally, Creative Planning increased its stake in shares of Northern Trust by 7.6% during the 2nd quarter. Creative Planning now owns 23,614 shares of the asset manager’s stock worth $1,983,000 after purchasing an additional 1,665 shares during the last quarter. 83.19% of the stock is owned by institutional investors.

Insider Buying and Selling at Northern Trust

In other news, Director Charles A. Tribbett sold 1,855 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $88.12, for a total value of $163,462.60. Following the transaction, the director now owns 1,000 shares in the company, valued at $88,120. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Northern Trust news, EVP Mark C. Gossett sold 6,000 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $88.90, for a total value of $533,400.00. Following the completion of the sale, the executive vice president now directly owns 28,707 shares of the company’s stock, valued at approximately $2,552,052.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Charles A. Tribbett sold 1,855 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $88.12, for a total transaction of $163,462.60. Following the completion of the sale, the director now owns 1,000 shares of the company’s stock, valued at approximately $88,120. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,738 shares of company stock worth $1,191,388. Insiders own 0.64% of the company’s stock.

Northern Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th were paid a dividend of $0.75 per share. The ex-dividend date was Friday, September 6th. This represents a $3.00 dividend on an annualized basis and a yield of 3.32%. Northern Trust’s dividend payout ratio (DPR) 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.