Q2 2024 Earnings Estimate for Northern Trust Co. Issued By Seaport Res Ptn (NASDAQ:NTRS)

Northern Trust Co. (NASDAQ:NTRS) – Investment analysts at Seaport Res Ptn reduced their Q2 2024 EPS estimates for Northern Trust in a research report issued to clients and investors on Thursday, April 18th. Seaport Res Ptn analyst J. Mitchell now anticipates that the asset manager will post earnings per share of $1.73 for the quarter, down from their prior forecast 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 research analysts have also issued reports on the stock. Bank of America upped their target price on shares of Northern Trust from $93.00 to $101.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Barclays boosted their target price on Northern Trust from $90.00 to $98.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 2nd. TheStreet raised shares of Northern Trust from a “c+” rating to a “b-” rating in a research note on Friday, January 12th. UBS Group lifted their target price on shares of Northern Trust from $72.00 to $84.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 9th. Finally, Morgan Stanley reissued an “underweight” rating and issued a $86.00 price target (up from $82.00) on shares of Northern Trust in a research note on Tuesday, January 30th. Two 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $84.92.

Northern Trust Price Performance

Shares of NASDAQ:NTRS opened at $84.18 on Monday. The company’s fifty day moving average price is $83.44 and its 200-day moving average price is $79.34. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.71. The firm has a market capitalization of $17.17 billion, a price-to-earnings ratio of 18.58, a PEG ratio of 1.17 and a beta of 1.13. Northern Trust has a one year low of $62.44 and a one year high of $89.25.

Northern Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 7th will be issued 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%.

Insiders Place Their Bets

In related news, insider Steven L. Fradkin sold 30,392 shares of Northern Trust stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $80.11, for a total transaction of $2,434,703.12. Following the sale, the insider now directly owns 55,707 shares in the company, valued at $4,462,687.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.64% of the company’s stock.

Institutional Investors Weigh In On Northern Trust

Several hedge funds have recently bought and sold shares of the business. Spartan Planning & Wealth Management boosted its position in shares of Northern Trust by 10,566.7% in the 4th quarter. Spartan Planning & Wealth Management now owns 320 shares of the asset manager’s stock worth $27,000 after purchasing an additional 317 shares in the last quarter. Fortitude Family Office LLC bought a new position in Northern Trust in the 4th quarter worth about $28,000. Quent Capital LLC grew its position in Northern Trust by 77.8% during the 4th quarter. Quent Capital LLC now owns 361 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 158 shares during the last quarter. Allworth Financial LP grew its position in Northern Trust by 94.1% during the 4th quarter. Allworth Financial LP now owns 359 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 174 shares during the last quarter. Finally, Hexagon Capital Partners LLC increased its stake in Northern Trust by 306.3% during the 3rd quarter. Hexagon Capital Partners LLC now owns 581 shares of the asset manager’s stock valued at $40,000 after purchasing an additional 438 shares in 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.