Northern Trust (NASDAQ:NTRS) Releases Earnings Results, Beats Estimates By $1.52 EPS

Northern Trust (NASDAQ:NTRS) released its quarterly earnings data on Wednesday. The asset manager reported $4.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.71 by $1.52, Briefing.com reports. The firm had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.69 billion. Northern Trust had a return on equity of 15.94% and a net margin of 12.84%.The business’s revenue for the quarter was up 35.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.13 earnings per share.

Northern Trust Price Performance

Shares of NASDAQ NTRS opened at $185.06 on Wednesday. Northern Trust has a fifty-two week low of $118.99 and a fifty-two week high of $191.60. The business has a fifty day moving average price of $173.88 and a two-hundred day moving average price of $157.15. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.62 and a quick ratio of 0.62. The stock has a market capitalization of $34.24 billion, a PE ratio of 19.38, a P/E/G ratio of 1.17 and a beta of 1.25.

Northern Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 4th will be paid a $0.88 dividend. This is a positive change from Northern Trust’s previous quarterly dividend of $0.80. The ex-dividend date is Friday, September 4th. This represents a $3.52 annualized dividend and a yield of 1.9%. Northern Trust’s dividend payout ratio is presently 33.51%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NTRS. Barclays raised their price target on Northern Trust from $160.00 to $176.00 and gave the company an “equal weight” rating in a report on Wednesday, April 22nd. JPMorgan Chase & Co. lifted their target price on Northern Trust from $170.00 to $179.50 and gave the stock a “neutral” rating in a report on Monday, July 6th. Evercore set a $179.00 price objective on Northern Trust in a report on Monday, July 6th. UBS Group set a $186.00 target price on Northern Trust in a research note on Friday, June 26th. Finally, BMO Capital Markets raised shares of Northern Trust from a “market perform” rating to an “outperform” rating and set a $168.00 price target on the stock in a research note on Monday, April 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Northern Trust currently has a consensus rating of “Hold” and a consensus target price of $178.75.

Insider Buying and Selling at Northern Trust

In other Northern Trust news, CFO David W. Fox, Jr. sold 19,987 shares of the firm’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $166.16, for a total value of $3,321,039.92. Following the sale, the chief financial officer owned 18,588 shares of the company’s stock, valued at approximately $3,088,582.08. This trade represents a 51.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Clive Bellows sold 2,800 shares of Northern Trust stock in a transaction on Friday, April 24th. The shares were sold at an average price of $165.02, for a total value of $462,056.00. Following the completion of the transaction, the insider owned 28,217 shares in the company, valued at approximately $4,656,369.34. The trade was a 9.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 22,800 shares of company stock valued at $3,785,251 in the last ninety days. 0.66% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. NorthRock Partners LLC lifted its stake in shares of Northern Trust by 2.2% in the 3rd quarter. NorthRock Partners LLC now owns 3,812 shares of the asset manager’s stock valued at $513,000 after purchasing an additional 83 shares during the period. MML Investors Services LLC grew its stake in Northern Trust by 1.3% during the fourth quarter. MML Investors Services LLC now owns 6,452 shares of the asset manager’s stock worth $881,000 after purchasing an additional 83 shares during the period. Transamerica Financial Advisors LLC grew its stake in Northern Trust by 54.1% during the fourth quarter. Transamerica Financial Advisors LLC now owns 265 shares of the asset manager’s stock worth $36,000 after purchasing an additional 93 shares during the period. Fiduciary Trust Co increased its holdings in Northern Trust by 1.1% in the third quarter. Fiduciary Trust Co now owns 11,289 shares of the asset manager’s stock worth $1,520,000 after purchasing an additional 118 shares in the last quarter. Finally, CHICAGO TRUST Co NA lifted its stake in Northern Trust by 5.5% in the fourth quarter. CHICAGO TRUST Co NA now owns 2,264 shares of the asset manager’s stock valued at $309,000 after buying an additional 118 shares during the period. Institutional investors and hedge funds own 83.19% of the company’s stock.

Northern Trust Company Profile

Northern Trust Corporation (NASDAQ: NTRS) is a global financial services firm headquartered in Chicago that provides asset servicing, asset management and wealth management solutions to institutions, corporations and high-net-worth individuals. The company’s core businesses include custody and fund administration, investment operations outsourcing, trust and fiduciary services, private banking, and retirement and defined contribution plan services.

Northern Trust’s product and service offerings span custody and fund accounting, portfolio and performance analytics, securities lending, cash management and foreign exchange, as well as discretionary and non-discretionary investment management.