Q2 2024 EPS Estimates for Northern Trust Co. (NASDAQ:NTRS) Reduced by Analyst

Northern Trust Co. (NASDAQ:NTRS) – Investment analysts at Seaport Res Ptn lowered their Q2 2024 earnings estimates for shares of Northern Trust in a research note issued on Thursday, April 18th. Seaport Res Ptn analyst J. Mitchell now forecasts that the asset manager will earn $1.73 per share for the quarter, down from their previous estimate of $1.75. The consensus estimate for Northern Trust’s current full-year earnings is $6.82 per share. Seaport Res Ptn also issued estimates for Northern Trust’s Q3 2024 earnings at $1.57 EPS and Q4 2024 earnings at $1.65 EPS.

Several other equities analysts have also issued reports on the company. Morgan Stanley reiterated an “underweight” rating and issued a $86.00 target price (up previously from $82.00) on shares of Northern Trust in a research note on Tuesday, January 30th. Barclays boosted their price objective on shares of Northern Trust from $90.00 to $98.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 2nd. Evercore ISI increased their target price on shares of Northern Trust from $86.00 to $87.00 and gave the company an “in-line” rating in a research report on Thursday, April 4th. UBS Group lifted their price target on shares of Northern Trust from $72.00 to $84.00 and gave the stock a “neutral” rating in a report on Tuesday, January 9th. Finally, Royal Bank of Canada increased their price objective on Northern Trust from $82.00 to $86.00 and gave the company an “outperform” rating in a report on Friday, January 19th. Two 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. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $84.92.

Northern Trust Stock Up 0.8 %

Shares of NASDAQ NTRS opened at $84.18 on Monday. The stock has a market capitalization of $17.17 billion, a PE ratio of 18.58, a price-to-earnings-growth ratio of 1.17 and a beta of 1.13. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. Northern Trust has a 12-month low of $62.44 and a 12-month high of $89.25. The stock’s fifty day simple moving average is $83.44 and its two-hundred day simple moving average is $79.34.

Hedge Funds Weigh In On Northern Trust

Several hedge funds and other institutional investors have recently made changes to their positions in NTRS. Amalgamated Bank lifted its holdings in Northern Trust by 1.9% in the 1st quarter. Amalgamated Bank now owns 51,740 shares of the asset manager’s stock valued at $4,601,000 after purchasing an additional 967 shares in the last quarter. Confluence Wealth Services Inc. acquired a new stake in shares of Northern Trust in the first quarter valued at about $213,000. First Trust Direct Indexing L.P. lifted its stake in shares of Northern Trust by 4.5% in the first quarter. First Trust Direct Indexing L.P. now owns 4,257 shares of the asset manager’s stock worth $379,000 after buying an additional 182 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Northern Trust by 0.8% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 490,487 shares of the asset manager’s stock worth $43,614,000 after buying an additional 3,861 shares in the last quarter. Finally, Tributary Capital Management LLC acquired a new position in Northern Trust during the first quarter worth about $53,000. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Insider Activity

In other news, insider Steven L. Fradkin sold 30,392 shares of Northern Trust stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $80.11, for a total value of $2,434,703.12. Following the sale, the insider now owns 55,707 shares in the company, valued at $4,462,687.77. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.64% of the company’s stock.

Northern Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 7th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.56%. 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.