Northern Trust Co. (NASDAQ:NTRS) – Research analysts at Piper Sandler raised their Q3 2020 earnings per share (EPS) estimates for Northern Trust in a report issued on Wednesday, July 8th. Piper Sandler analyst J. Harte now forecasts that the asset manager will post earnings of $1.45 per share for the quarter, up from their prior estimate of $1.35. Piper Sandler also issued estimates for Northern Trust’s Q4 2020 earnings at $1.52 EPS, FY2020 earnings at $5.87 EPS and Q4 2021 earnings at $1.69 EPS.
Northern Trust (NASDAQ:NTRS) last announced its earnings results on Tuesday, April 21st. The asset manager reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.10. Northern Trust had a net margin of 21.88% and a return on equity of 15.18%. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same period in the previous year, the business posted $1.48 earnings per share. Northern Trust’s revenue for the quarter was up 7.2% on a year-over-year basis.
Shares of NTRS opened at $81.65 on Monday. The firm has a market cap of $16.68 billion, a price-to-earnings ratio of 12.20, a PEG ratio of 1.31 and a beta of 1.09. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.68 and a current ratio of 0.68. Northern Trust has a fifty-two week low of $60.67 and a fifty-two week high of $110.48. The firm has a 50 day moving average price of $81.74 and a 200-day moving average price of $86.32.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th were given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date of this dividend was Thursday, June 11th. Northern Trust’s dividend payout ratio is presently 42.23%.
In related news, EVP Mark C. Gossett sold 5,115 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $83.08, for a total transaction of $424,954.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Robert P. Browne sold 5,000 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $84.82, for a total transaction of $424,100.00. The disclosure for this sale can be found here. 0.72% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in NTRS. Victory Capital Management Inc. grew its position in Northern Trust by 3.1% during the 4th quarter. Victory Capital Management Inc. now owns 198,145 shares of the asset manager’s stock valued at $21,051,000 after purchasing an additional 5,935 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its position in Northern Trust by 1.3% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 40,745 shares of the asset manager’s stock valued at $4,329,000 after purchasing an additional 535 shares during the last quarter. Franklin Resources Inc. grew its position in Northern Trust by 7.7% during the 4th quarter. Franklin Resources Inc. now owns 8,398 shares of the asset manager’s stock valued at $892,000 after purchasing an additional 600 shares during the last quarter. Raymond James & Associates grew its position in Northern Trust by 9.1% during the 4th quarter. Raymond James & Associates now owns 71,456 shares of the asset manager’s stock valued at $7,592,000 after purchasing an additional 5,931 shares during the last quarter. Finally, Vestcor Investment Management Corp bought a new position in Northern Trust during the 4th quarter valued at about $390,000. 82.62% of the stock is currently owned by 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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