Research Analysts Offer Predictions for Northern Trust Co.’s Q2 2024 Earnings (NASDAQ:NTRS)

Northern Trust Co. (NASDAQ:NTRS) – Seaport Res Ptn upped their Q2 2024 earnings per share estimates for shares of Northern Trust in a research report issued to clients and investors on Tuesday, July 2nd. Seaport Res Ptn analyst J. Mitchell now forecasts that the asset manager will post earnings per share of $1.75 for the quarter, up from their previous estimate of $1.73. 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 Q3 2024 earnings at $1.71 EPS and Q4 2024 earnings at $1.75 EPS.

Several other equities research analysts have also weighed in on NTRS. Keefe, Bruyette & Woods cut their target price on 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. Jefferies Financial Group raised their price target on Northern Trust from $101.00 to $103.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Bank of America raised their price target on Northern Trust from $93.00 to $101.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Evercore ISI raised their price target on Northern Trust from $86.00 to $87.00 and gave the stock an “in-line” rating in a research note on Thursday, April 4th. Finally, The Goldman Sachs Group dropped their price target on Northern Trust from $94.00 to $84.00 and set a “neutral” rating on the stock in a research note on Tuesday. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Northern Trust presently has an average rating of “Hold” and a consensus price target of $86.42.

Northern Trust Price Performance

Shares of NASDAQ NTRS opened at $84.40 on Thursday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.71. Northern Trust has a fifty-two week low of $62.44 and a fifty-two week high of $89.25. The firm has a market capitalization of $17.27 billion, a PE ratio of 18.63, a price-to-earnings-growth ratio of 1.18 and a beta of 1.10. The stock’s 50-day simple moving average is $83.62 and its 200-day simple moving average is $83.16.

Northern Trust (NASDAQ:NTRS) last issued its earnings results on Tuesday, April 16th. The asset manager reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.23. Northern Trust had a return on equity of 12.57% and a net margin of 7.59%. The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.79 billion.

Northern Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 7th were given a dividend of $0.75 per share. 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 payout ratio is 66.23%.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Northern Trust

Large investors have recently modified their holdings of the stock. Spartan Planning & Wealth Management grew its stake in shares of Northern Trust by 10,566.7% in the fourth quarter. Spartan Planning & Wealth Management now owns 320 shares of the asset manager’s stock valued at $27,000 after buying an additional 317 shares in the last quarter. Fortitude Family Office LLC acquired a new stake in Northern Trust during the 4th quarter valued at approximately $28,000. Allworth Financial LP grew its stake in Northern Trust by 94.1% during the 4th quarter. Allworth Financial LP now owns 359 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 174 shares in the last quarter. Quent Capital LLC grew its stake in Northern Trust by 77.8% during the 4th quarter. Quent Capital LLC now owns 361 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 158 shares in the last quarter. Finally, Friedenthal Financial acquired a new stake in Northern Trust during the 4th quarter valued at approximately $45,000. Institutional investors and hedge funds own 83.19% of the company’s stock.

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.