Northern Trust Co. (NASDAQ:NTRS) – Equities researchers at Piper Sandler upped their Q1 2021 earnings estimates for shares of Northern Trust in a research note issued on Thursday, March 11th. Piper Sandler analyst J. Harte now expects that the asset manager will post earnings of $1.52 per share for the quarter, up from their previous estimate of $1.49. Piper Sandler has a “Overweight” rating and a $115.00 price objective on the stock. Piper Sandler also issued estimates for Northern Trust’s FY2021 earnings at $6.62 EPS, Q1 2022 earnings at $1.73 EPS, Q2 2022 earnings at $1.86 EPS, Q3 2022 earnings at $1.87 EPS, Q4 2022 earnings at $2.01 EPS and FY2022 earnings at $7.46 EPS. Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings results on Wednesday, January 20th. The asset manager reported $1.49 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.49. Northern Trust had a net margin of 20.72% and a return on equity of 13.07%. The firm had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period in the prior year, the firm posted $1.80 earnings per share.
A number of other equities analysts also recently weighed in on NTRS. Deutsche Bank Aktiengesellschaft lowered their price target on Northern Trust from $112.00 to $110.00 and set a “buy” rating on the stock in a research report on Friday, January 22nd. JPMorgan Chase & Co. cut Northern Trust from a “neutral” rating to an “underweight” rating and set a $90.00 price target on the stock. in a research note on Tuesday, December 1st. Bank of America downgraded Northern Trust from a “neutral” rating to an “underperform” rating and raised their price target for the company from $95.00 to $97.00 in a report on Tuesday, January 12th. Credit Suisse Group lowered shares of Northern Trust from a “neutral” rating to an “underperform” rating and increased their price objective for the company from $88.00 to $94.00 in a research report on Friday, December 11th. Finally, Morgan Stanley lifted their target price on shares of Northern Trust from $128.00 to $131.00 and gave the stock an “equal weight” rating in a report on Monday, March 8th. Six research analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $97.38.
Shares of NTRS stock opened at $102.38 on Monday. Northern Trust has a 52-week low of $60.67 and a 52-week high of $103.90. The stock has a market cap of $21.33 billion, a price-to-earnings ratio of 16.98 and a beta of 1.12. The firm’s 50-day moving average is $96.36 and its 200-day moving average is $89.72. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.64 and a current ratio of 0.64.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 1st. Shareholders of record on Friday, March 12th will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, March 11th. This represents a $2.80 dividend on an annualized basis and a yield of 2.73%. Northern Trust’s dividend payout ratio (DPR) is presently 42.23%.
In other news, insider Steven L. Fradkin sold 8,473 shares of the company’s stock in a transaction on Thursday, January 28th. The stock was sold at an average price of $91.50, for a total transaction of $775,279.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.72% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in NTRS. Norges Bank acquired a new stake in shares of Northern Trust during the 4th quarter worth approximately $177,600,000. NN Investment Partners Holdings N.V. boosted its holdings in shares of Northern Trust by 1,073.2% in the 4th quarter. NN Investment Partners Holdings N.V. now owns 1,975,814 shares of the asset manager’s stock valued at $184,029,000 after purchasing an additional 1,807,398 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Northern Trust by 292.8% in the 4th quarter. Principal Financial Group Inc. now owns 1,236,711 shares of the asset manager’s stock valued at $115,187,000 after purchasing an additional 921,861 shares during the last quarter. Allianz Asset Management GmbH raised its holdings in shares of Northern Trust by 590.7% during the 3rd quarter. Allianz Asset Management GmbH now owns 638,336 shares of the asset manager’s stock worth $49,771,000 after buying an additional 545,917 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of Northern Trust by 9.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,412,956 shares of the asset manager’s stock worth $188,138,000 after buying an additional 203,746 shares in the last quarter. 78.82% of the stock is currently owned by hedge funds and other 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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