Northern Trust Corp. (NTRS) Announces Quarterly Earnings Results
Northern Trust Corp. (NASDAQ:NTRS) released its quarterly earnings data on Wednesday. The company reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.09 by $0.01. Northern Trust Corp. had a return on equity of 11.38% and a net margin of 19.38%. The business earned $1.22 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter last year, the business posted $0.96 EPS. The company’s quarterly revenue was up 5.1% compared to the same quarter last year.
Northern Trust Corp. (NASDAQ:NTRS) opened at 71.13 on Thursday. The company’s 50-day moving average price is $69.65 and its 200-day moving average price is $68.99. The company has a market cap of $16.12 billion, a price-to-earnings ratio of 17.57 and a beta of 1.13. Northern Trust Corp. has a 52-week low of $54.38 and a 52-week high of $76.11.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, January 1st. Investors of record on Friday, December 2nd will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend is Wednesday, November 30th. Northern Trust Corp.’s dividend payout ratio (DPR) is presently 37.53%.
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Several equities research analysts have weighed in on NTRS shares. Goldman Sachs Group Inc. cut Northern Trust Corp. from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $82.00 to $71.00 in a report on Thursday, July 7th. Zacks Investment Research upgraded Northern Trust Corp. from a “hold” rating to a “buy” rating and set a $78.00 target price for the company in a research note on Wednesday, October 5th. Deutsche Bank AG set a $71.00 target price on Northern Trust Corp. and gave the company a “hold” rating in a research note on Friday, August 5th. Credit Agricole SA raised their target price on Northern Trust Corp. from $70.00 to $73.00 and gave the company an “underperform” rating in a research note on Friday, September 23rd. Finally, Jefferies Group restated a “hold” rating and issued a $77.00 target price on shares of Northern Trust Corp. in a research note on Monday, October 10th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $72.27.
In other news, President William L. Morrison sold 170,563 shares of the company’s stock in a transaction on Friday, August 5th. The stock was sold at an average price of $67.36, for a total transaction of $11,489,123.68. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Clair Joyce St sold 48,110 shares of the company’s stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $67.02, for a total value of $3,224,332.20. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Alpha Windward LLC increased its position in shares of Northern Trust Corp. by 1.1% in the third quarter. Alpha Windward LLC now owns 2,208 shares of the company’s stock worth $150,000 after buying an additional 25 shares during the last quarter. West Oak Capital LLC increased its position in shares of Northern Trust Corp. by 0.4% in the second quarter. West Oak Capital LLC now owns 17,315 shares of the company’s stock worth $1,147,000 after buying an additional 65 shares during the last quarter. Farmers & Merchants Investments Inc. increased its position in shares of Northern Trust Corp. by 2.8% in the third quarter. Farmers & Merchants Investments Inc. now owns 4,159 shares of the company’s stock worth $283,000 after buying an additional 113 shares during the last quarter. Balasa Dinverno & Foltz LLC increased its position in shares of Northern Trust Corp. by 2.8% in the second quarter. Balasa Dinverno & Foltz LLC now owns 4,743 shares of the company’s stock worth $314,000 after buying an additional 128 shares during the last quarter. Finally, World Asset Management Inc increased its position in shares of Northern Trust Corp. by 0.7% in the second quarter. World Asset Management Inc now owns 21,172 shares of the company’s stock worth $1,403,000 after buying an additional 143 shares during the last quarter. 81.68% of the stock is currently owned by institutional investors and hedge funds.
Northern Trust Corp. Company Profile
Northern Trust Corporation is a financial holding company. The Company provides asset servicing, fund administration, asset management, fiduciary and banking solutions for corporations, institutions, families and individuals around the world. The Company’s segments include Corporate & Institutional Services (C&IS), Wealth Management, and Treasury and Other.
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