Brokers Offer Predictions for Northern Trust FY2024 Earnings

Northern Trust Co. (NASDAQ:NTRS) – Investment analysts at Seaport Res Ptn raised their FY2024 EPS estimates for Northern Trust in a research note issued on Wednesday, October 23rd. Seaport Res Ptn analyst J. Mitchell now forecasts that the asset manager will earn $7.45 per share 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.

A number of other analysts have also recently weighed in on NTRS. Morgan Stanley upped their price target on Northern Trust from $97.00 to $103.00 and gave the company an “underweight” rating in a research report on Thursday. Royal Bank of Canada boosted their price target on shares of Northern Trust from $100.00 to $107.00 and gave the company an “outperform” rating in a research report on Thursday. Evercore ISI raised their price objective on shares of Northern Trust from $86.00 to $103.00 and gave the stock an “in-line” rating in a report on Thursday. Bank of America boosted their target price on Northern Trust from $103.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Northern Trust from $84.00 to $94.00 and gave the company a “hold” rating in a report on Monday, September 23rd. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Northern Trust presently has an average rating of “Hold” and an average price target of $99.33.

Northern Trust Trading Down 2.5 %

NTRS stock opened at $100.19 on Friday. Northern Trust has a 1-year low of $63.43 and a 1-year high of $104.25. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The business’s 50 day moving average is $91.10 and its 200-day moving average is $86.73. The firm has a market cap of $20.50 billion, a P/E ratio of 22.12, a P/E/G ratio of 1.65 and a beta of 1.08.

Northern Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 6th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 2.99%. The ex-dividend date of this dividend is Friday, December 6th. Northern Trust’s dividend payout ratio (DPR) is presently 66.23%.

Insider Activity at Northern Trust

In other Northern Trust news, Director Charles A. Tribbett sold 1,855 shares of the business’s 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 approximately $88,120. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Northern Trust news, EVP Teresa Parker sold 5,883 shares of Northern Trust stock in a transaction on Friday, August 9th. The shares were sold at an average price of $84.06, for a total transaction of $494,524.98. Following the completion of the sale, the executive vice president now owns 83,765 shares of the company’s stock, valued at approximately $7,041,285.90. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Charles A. Tribbett sold 1,855 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $88.12, for a total value of $163,462.60. Following the completion of the transaction, the director now directly owns 1,000 shares in the company, valued at approximately $88,120. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,738 shares of company stock worth $1,191,388 over the last 90 days. Insiders own 0.64% of the company’s stock.

Institutional Investors Weigh In On Northern Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CANADA LIFE ASSURANCE Co increased its stake in Northern Trust by 6.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 360,640 shares of the asset manager’s stock valued at $32,111,000 after purchasing an additional 23,020 shares in the last quarter. Sequoia Financial Advisors LLC increased its holdings in Northern Trust by 557.8% during the 1st quarter. Sequoia Financial Advisors LLC now owns 30,813 shares of the asset manager’s stock worth $2,740,000 after purchasing an additional 26,129 shares in the last quarter. Bessemer Group Inc. lifted its holdings in shares of Northern Trust by 668.0% in the first quarter. Bessemer Group Inc. now owns 20,205 shares of the asset manager’s stock valued at $1,797,000 after purchasing an additional 17,574 shares in the last quarter. AIA Group Ltd grew its holdings in shares of Northern Trust by 4.3% during the first quarter. AIA Group Ltd now owns 602,785 shares of the asset manager’s stock worth $53,600,000 after buying an additional 24,791 shares in the last quarter. Finally, Intech Investment Management LLC boosted its position in Northern Trust by 1,891.1% during the 1st quarter. Intech Investment Management LLC now owns 56,845 shares of the asset manager’s stock worth $5,055,000 after acquiring an additional 53,990 shares during the last quarter. Institutional investors own 83.19% of the company’s stock.

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.