Northern Trust FY2024 EPS Forecast Raised by Seaport Res Ptn

Northern Trust Co. (NASDAQ:NTRS) – Equities research analysts at Seaport Res Ptn lifted their FY2024 earnings per share estimates for Northern Trust in a research note issued to investors on Wednesday, October 23rd. Seaport Res Ptn analyst J. Mitchell now anticipates that the asset manager will earn $7.45 per share for the year, up from their prior forecast of $7.08. The consensus estimate for Northern Trust’s current full-year earnings is $7.04 per share. Seaport Res Ptn also issued estimates for Northern Trust’s Q4 2024 earnings at $1.98 EPS, Q1 2025 earnings at $1.75 EPS, Q2 2025 earnings at $1.96 EPS, Q4 2025 earnings at $2.13 EPS and FY2025 earnings at $7.80 EPS.

NTRS has been the topic of several other research reports. Evercore ISI lifted their target price on Northern Trust from $86.00 to $103.00 and gave the company an “in-line” rating in a research note on Thursday. Bank of America boosted their price objective on shares of Northern Trust from $103.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday. Morgan Stanley increased their target price on shares of Northern Trust from $97.00 to $103.00 and gave the stock an “underweight” rating in a research report on Thursday. The Goldman Sachs Group cut shares of Northern Trust from a “neutral” rating to a “sell” rating and lowered their price target for the company from $84.00 to $82.00 in a report on Thursday, September 26th. Finally, Barclays increased their price objective on Northern Trust from $98.00 to $115.00 and gave the stock an “equal weight” rating in a report on Thursday. Three 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. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $99.33.

Northern Trust Stock Performance

Shares of NTRS stock opened at $102.79 on Friday. The stock’s fifty day simple moving average is $90.51 and its 200-day simple moving average is $86.53. The company has a market capitalization of $20.73 billion, a price-to-earnings ratio of 14.06, a P/E/G ratio of 1.65 and a beta of 1.08. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. Northern Trust has a 1-year low of $62.44 and a 1-year high of $104.25.

Hedge Funds Weigh In On Northern Trust

Large investors have recently bought and sold shares of the stock. Olistico Wealth LLC bought a new position in shares of Northern Trust during the 2nd quarter worth about $25,000. Innealta Capital LLC acquired a new position in Northern Trust in the 2nd quarter valued at approximately $26,000. Ridgewood Investments LLC bought a new stake in shares of Northern Trust in the 2nd quarter worth approximately $30,000. Versant Capital Management Inc grew its holdings in shares of Northern Trust by 343.9% during the 2nd quarter. Versant Capital Management Inc now owns 435 shares of the asset manager’s stock worth $37,000 after purchasing an additional 337 shares in the last quarter. Finally, Northwest Investment Counselors LLC bought a new stake in shares of Northern Trust during the third quarter valued at approximately $39,000. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Northern Trust news, Director Charles A. Tribbett sold 1,855 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $88.12, for a total transaction of $163,462.60. Following the transaction, the director now owns 1,000 shares in the company, valued at $88,120. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Northern Trust news, Director Charles A. Tribbett sold 1,855 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $88.12, for a total transaction of $163,462.60. Following the completion of the sale, the director now directly owns 1,000 shares in the company, valued at $88,120. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark C. Gossett sold 6,000 shares of Northern Trust stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $88.90, for a total value of $533,400.00. Following the completion of the transaction, the executive vice president now owns 28,707 shares in the company, valued at $2,552,052.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,738 shares of company stock worth $1,191,388. 0.64% of the stock is currently owned by insiders.

Northern Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 6th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date is Friday, December 6th. Northern Trust’s payout ratio is 41.04%.

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.