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

Northern Trust Co. (NASDAQ:NTRS) – Equities researchers at Seaport Res Ptn upped their Q3 2024 earnings estimates for Northern Trust in a report released on Thursday, October 3rd. Seaport Res Ptn analyst J. Mitchell now expects that the asset manager will earn $1.76 per share for the quarter, up from their previous forecast 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.

Northern Trust (NASDAQ:NTRS) last issued its earnings results on Wednesday, July 17th. The asset manager reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.03. Northern Trust had a return on equity of 12.24% and a net margin of 10.53%. The company had revenue of $2.72 billion during the quarter, compared to analysts’ expectations of $1.84 billion. During the same period in the prior year, the business posted $1.79 EPS. Northern Trust’s quarterly revenue was up 53.8% compared to the same quarter last year.

NTRS has been the subject of several other research reports. The Goldman Sachs Group cut shares of Northern Trust from a “neutral” rating to a “sell” rating and dropped their price target for the company from $84.00 to $82.00 in a research report on Thursday, September 26th. Royal Bank of Canada raised their target price on Northern Trust from $86.00 to $90.00 and gave the stock an “outperform” rating in a research note on Thursday, July 18th. Deutsche Bank Aktiengesellschaft upped their price target on Northern Trust from $84.00 to $94.00 and gave the company a “hold” rating in a research report on Monday, September 23rd. Keefe, Bruyette & Woods cut their price objective 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. Finally, Morgan Stanley upped their target price on Northern Trust from $93.00 to $97.00 and gave the company an “underweight” rating in a report on Monday. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Northern Trust has an average rating of “Hold” and an average price target of $89.75.

Northern Trust Stock Performance

NASDAQ:NTRS opened at $88.57 on Friday. The company has a debt-to-equity ratio of 0.58, 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 $92.82. The firm has a market cap of $18.12 billion, a PE ratio of 19.55, a price-to-earnings-growth ratio of 1.53 and a beta of 1.08. The business has a 50 day moving average price of $88.03 and a 200-day moving average price of $85.77.

Northern Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 6th were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 3.39%. The ex-dividend date was Friday, September 6th. Northern Trust’s payout ratio is currently 66.23%.

Insiders Place Their Bets

In other news, Director Charles A. Tribbett sold 1,855 shares of the business’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 sale, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $88,120. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Northern Trust news, EVP Mark C. Gossett sold 6,000 shares of Northern Trust stock in a transaction on Tuesday, August 27th. The stock was 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 owns 28,707 shares of the company’s stock, valued at approximately $2,552,052.30. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Charles A. Tribbett sold 1,855 shares of the business’s stock in a transaction 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 completion of the transaction, the director now owns 1,000 shares of the company’s stock, valued at approximately $88,120. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,738 shares of company stock worth $1,191,388. 0.64% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Northern Trust

Several hedge funds and other institutional investors have recently bought and sold shares of NTRS. Massmutual Trust Co. FSB ADV boosted its holdings 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 worth $83,000 after purchasing an additional 117 shares during the last quarter. DekaBank Deutsche Girozentrale grew its holdings in shares of Northern Trust by 0.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 43,713 shares of the asset manager’s stock worth $3,608,000 after acquiring an additional 120 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Northern Trust by 1.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 10,584 shares of the asset manager’s stock valued at $889,000 after acquiring an additional 131 shares during the period. Harvest Investment Advisors LLC boosted its position in Northern Trust by 1.0% in the fourth quarter. Harvest Investment Advisors LLC now owns 16,291 shares of the asset manager’s stock worth $1,375,000 after purchasing an additional 160 shares during the last quarter. Finally, First Trust Direct Indexing L.P. increased its position in shares of Northern Trust by 4.5% during the 1st quarter. First Trust Direct Indexing L.P. now owns 4,257 shares of the asset manager’s stock valued at $379,000 after purchasing an additional 182 shares during the last quarter. Institutional investors 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.