Northern Trust (NASDAQ:NTRS) Announces Quarterly Earnings Results

Northern Trust (NASDAQ:NTRS) posted its earnings results on Thursday. The asset manager reported $2.26 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.30, Zacks reports. Northern Trust had a net margin of 10.92% and a return on equity of 12.75%.

Northern Trust Stock Up 2.7 %

NTRS stock opened at $110.67 on Thursday. The firm has a market cap of $21.94 billion, a PE ratio of 13.51, a PEG ratio of 1.23 and a beta of 1.08. Northern Trust has a one year low of $76.67 and a one year high of $111.87. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. The firm’s 50 day moving average price is $105.76 and its 200-day moving average price is $96.30.

Analyst Ratings Changes

A number of research firms have weighed in on NTRS. Royal Bank of Canada lifted their price objective on shares of Northern Trust from $100.00 to $107.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Truist Financial initiated coverage on shares of Northern Trust in a research report on Tuesday, January 7th. They set a “hold” rating and a $110.00 price target for the company. Barclays lifted their target price on shares of Northern Trust from $115.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Monday, January 6th. Bank of America raised their price target on shares of Northern Trust from $103.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, The Goldman Sachs Group cut shares of Northern Trust from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $84.00 to $82.00 in a research note on Thursday, September 26th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $107.17.

Insiders Place Their Bets

In other Northern Trust news, Vice Chairman Steven L. Fradkin sold 9,100 shares of Northern Trust stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $111.00, for a total transaction of $1,010,100.00. Following the completion of the sale, the insider now directly owns 47,797 shares in the company, valued at $5,305,467. This trade represents a 15.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Teresa Parker sold 4,439 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $100.86, for a total transaction of $447,717.54. Following the completion of the transaction, the insider now owns 79,326 shares in the company, valued at approximately $8,000,820.36. This represents a 5.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 82,151 shares of company stock valued at $8,489,889 over the last quarter. 0.64% of the stock is owned by insiders.

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.