Northern Trust FY2024 EPS Estimate Raised by Seaport Res Ptn

Northern Trust Co. (NASDAQ:NTRS) – Analysts at Seaport Res Ptn increased their FY2024 earnings per share (EPS) estimates for Northern Trust in a report issued on Wednesday, October 23rd. Seaport Res Ptn analyst J. Mitchell now expects that the asset manager will post earnings per share of $7.45 for the year, up from their previous forecast of $7.08. The consensus estimate for Northern Trust’s current full-year earnings is $7.04 per share. Seaport Res Ptn also issued estimates for Northern Trust’s Q4 2024 earnings at $1.98 EPS, Q1 2025 earnings at $1.75 EPS, Q2 2025 earnings at $1.96 EPS, Q4 2025 earnings at $2.13 EPS and FY2025 earnings at $7.80 EPS.

Other equities research analysts have also recently issued reports about the company. Deutsche Bank Aktiengesellschaft lifted their price objective on Northern Trust from $84.00 to $94.00 and gave the company a “hold” rating in a research note on Monday, September 23rd. Wells Fargo & Company lifted their price objective on Northern Trust from $92.00 to $108.00 and gave the company an “equal weight” rating in a research note on Thursday. UBS Group lifted their price objective on Northern Trust from $86.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, October 8th. Morgan Stanley lifted their price objective on Northern Trust from $97.00 to $103.00 and gave the company an “underweight” rating in a research note on Thursday. Finally, Evercore ISI lifted their price objective on Northern Trust from $86.00 to $103.00 and gave the company an “in-line” rating in a research note on Thursday. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $99.33.

Northern Trust Price Performance

NTRS stock opened at $100.19 on Friday. The business has a fifty day moving average of $90.84 and a two-hundred day moving average of $86.64. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. The stock has a market cap of $20.50 billion, a price-to-earnings ratio of 22.12, a price-to-earnings-growth ratio of 1.65 and a beta of 1.08. Northern Trust has a 52-week low of $63.43 and a 52-week high of $104.25.

Institutional Trading of Northern Trust

Several institutional investors and hedge funds have recently made changes to their positions in NTRS. Massachusetts Financial Services Co. MA lifted its holdings in shares of Northern Trust by 13.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,413,620 shares of the asset manager’s stock valued at $622,596,000 after purchasing an additional 850,556 shares during the last quarter. Panagora Asset Management Inc. increased its position in Northern Trust by 4,660.5% in the 2nd quarter. Panagora Asset Management Inc. now owns 399,932 shares of the asset manager’s stock valued at $33,586,000 after acquiring an additional 391,531 shares during the period. Primecap Management Co. CA increased its position in Northern Trust by 3.9% in the 2nd quarter. Primecap Management Co. CA now owns 7,046,757 shares of the asset manager’s stock valued at $591,787,000 after acquiring an additional 261,285 shares during the period. Dimensional Fund Advisors LP increased its position in Northern Trust by 12.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,003,675 shares of the asset manager’s stock valued at $168,253,000 after acquiring an additional 219,387 shares during the period. Finally, AQR Capital Management LLC increased its position in Northern Trust by 55.1% during the 2nd quarter. AQR Capital Management LLC now owns 597,146 shares of the asset manager’s stock worth $49,575,000 after purchasing an additional 212,089 shares during the period. 83.19% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Northern Trust news, Director Charles A. Tribbett sold 1,855 shares of Northern Trust stock in a transaction dated Friday, September 13th. The stock was 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 directly owns 1,000 shares of the company’s stock, valued at $88,120. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Northern Trust news, Director Charles A. Tribbett sold 1,855 shares of Northern Trust stock in a transaction dated Friday, September 13th. The stock was 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 directly owns 1,000 shares of the company’s stock, valued at $88,120. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Mark C. Gossett sold 6,000 shares of Northern Trust stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $88.90, for a total value of $533,400.00. Following the sale, the executive vice president now directly owns 28,707 shares of the company’s stock, valued at $2,552,052.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,738 shares of company stock valued at $1,191,388 in the last ninety days. Insiders own 0.64% of the company’s stock.

Northern Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 6th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date of this dividend is Friday, December 6th. Northern Trust’s dividend payout ratio (DPR) is 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.