Analysts Offer Predictions for Northern Trust Co.’s Q2 2024 Earnings (NASDAQ:NTRS)

Northern Trust Co. (NASDAQ:NTRS) – Stock analysts at Seaport Res Ptn decreased their Q2 2024 EPS estimates for shares of Northern Trust in a research report issued to clients and investors on Thursday, April 18th. Seaport Res Ptn analyst J. Mitchell now expects that the asset manager will post earnings of $1.73 per share for the quarter, down from their previous 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.

NTRS has been the topic of several other reports. Bank of America increased their target price on shares of Northern Trust from $93.00 to $101.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Jefferies Financial Group boosted their price objective on shares of Northern Trust from $101.00 to $103.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Morgan Stanley restated an “underweight” rating and set a $86.00 target price (up previously from $82.00) on shares of Northern Trust in a report on Tuesday, January 30th. Royal Bank of Canada boosted their price target on Northern Trust from $82.00 to $86.00 and gave the stock an “outperform” rating in a research report on Friday, January 19th. Finally, TheStreet raised Northern Trust from a “c+” rating to a “b-” rating in a research report on Friday, January 12th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $84.92.

Northern Trust Stock Up 2.6 %

Shares of NASDAQ NTRS opened at $83.54 on Monday. Northern Trust has a 52-week low of $62.44 and a 52-week high of $89.25. The firm has a market capitalization of $17.04 billion, a price-to-earnings ratio of 18.44, a PEG ratio of 1.17 and a beta of 1.13. The stock has a 50 day moving average price of $83.31 and a 200 day moving average price of $79.22. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.71 and a current ratio of 0.71.

Institutional Investors Weigh In On Northern Trust

Several hedge funds have recently bought and sold shares of NTRS. Spartan Planning & Wealth Management increased its holdings in Northern Trust by 10,566.7% in the fourth quarter. Spartan Planning & Wealth Management now owns 320 shares of the asset manager’s stock valued at $27,000 after buying an additional 317 shares in the last quarter. Fortitude Family Office LLC purchased a new position in shares of Northern Trust in the 4th quarter valued at about $28,000. Quent Capital LLC raised its holdings in Northern Trust by 77.8% in the 4th quarter. Quent Capital LLC now owns 361 shares of the asset manager’s stock worth $30,000 after purchasing an additional 158 shares during the period. Allworth Financial LP boosted its position in Northern Trust by 94.1% during the fourth quarter. Allworth Financial LP now owns 359 shares of the asset manager’s stock worth $30,000 after purchasing an additional 174 shares in the last quarter. Finally, Hexagon Capital Partners LLC grew its holdings in Northern Trust by 306.3% in the third 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 during the period. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Insider Activity at Northern Trust

In other Northern Trust news, insider Steven L. Fradkin sold 30,392 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $4,462,687.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.64% of the stock is currently owned by insiders.

Northern Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 7th will be issued a dividend of $0.75 per share. The ex-dividend date is Friday, June 7th. This represents a $3.00 annualized dividend and a dividend yield of 3.59%. Northern Trust’s dividend payout ratio (DPR) is presently 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.