Northern Trust Co. (NASDAQ:NTRS) – Investment analysts at Jefferies Financial Group lifted their Q3 2020 EPS estimates for shares of Northern Trust in a note issued to investors on Wednesday, July 8th. Jefferies Financial Group analyst K. Usdin now anticipates that the asset manager will earn $1.54 per share for the quarter, up from their prior estimate of $1.18. Jefferies Financial Group has a “Buy” rating and a $95.00 price target on the stock. Jefferies Financial Group also issued estimates for Northern Trust’s Q4 2020 earnings at $1.68 EPS, FY2020 earnings at $6.22 EPS, Q1 2021 earnings at $1.48 EPS, Q2 2021 earnings at $1.64 EPS, Q3 2021 earnings at $1.55 EPS, Q4 2021 earnings at $1.63 EPS and FY2021 earnings at $6.30 EPS.
Northern Trust (NASDAQ:NTRS) last released its quarterly earnings results on Tuesday, April 21st. The asset manager reported $1.55 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.45 by $0.10. Northern Trust had a return on equity of 15.18% and a net margin of 21.88%. The business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.54 billion. During the same quarter in the previous year, the firm posted $1.48 earnings per share. The company’s revenue was up 7.2% compared to the same quarter last year.
NASDAQ:NTRS opened at $81.65 on Monday. Northern Trust has a 52 week low of $60.67 and a 52 week high of $110.48. The firm has a market capitalization of $16.68 billion, a PE ratio of 12.20, a price-to-earnings-growth ratio of 1.31 and a beta of 1.09. The stock has a 50 day moving average of $81.74 and a 200-day moving average of $86.32. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.41.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Friday, June 12th were issued a dividend of $0.70 per share. The ex-dividend date was Thursday, June 11th. This represents a $2.80 annualized dividend and a dividend yield of 3.43%. Northern Trust’s dividend payout ratio is 42.23%.
In other Northern Trust news, EVP Robert P. Browne sold 5,000 shares of the stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $84.82, for a total transaction of $424,100.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Mark C. Gossett sold 5,115 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $83.08, for a total transaction of $424,954.20. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. increased its position in Northern Trust by 6.4% during the first quarter. JPMorgan Chase & Co. now owns 7,342,977 shares of the asset manager’s stock worth $554,099,000 after buying an additional 444,404 shares during the last quarter. Fiduciary Management Inc. WI increased its position in Northern Trust by 52.6% during the first quarter. Fiduciary Management Inc. WI now owns 3,603,764 shares of the asset manager’s stock worth $271,940,000 after buying an additional 1,242,291 shares during the last quarter. Geode Capital Management LLC increased its position in Northern Trust by 1.2% during the first quarter. Geode Capital Management LLC now owns 3,412,392 shares of the asset manager’s stock worth $257,020,000 after buying an additional 42,070 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Northern Trust by 12.7% in the first quarter. Bank of New York Mellon Corp now owns 2,120,786 shares of the asset manager’s stock valued at $160,036,000 after purchasing an additional 238,793 shares during the last quarter. Finally, Champlain Investment Partners LLC grew its position in shares of Northern Trust by 3.5% in the first quarter. Champlain Investment Partners LLC now owns 1,907,715 shares of the asset manager’s stock valued at $143,956,000 after purchasing an additional 64,500 shares during the last quarter. 82.62% of the stock is currently owned by hedge funds and other institutional investors.
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, Corporate & Institutional Services (C&IS) and Wealth Management.
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