Northern Trust Corporation (NASDAQ:NTRS) – Equities researchers at Jefferies Group lifted their FY2018 EPS estimates for Northern Trust Corporation in a research report issued to clients and investors on Wednesday. Jefferies Group analyst K. Usdin now expects that the asset manager will earn $5.40 per share for the year, up from their previous estimate of $5.20.

Northern Trust Corporation (NASDAQ:NTRS) last released its earnings results on Wednesday, October 18th. The asset manager reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.08. The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.35 billion. Northern Trust Corporation had a return on equity of 12.33% and a net margin of 20.27%. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.11 earnings per share. TRADEMARK VIOLATION WARNING: “FY2018 Earnings Forecast for Northern Trust Corporation Issued By Jefferies Group (NTRS)” was originally posted by American Banking News and is owned by of American Banking News. If you are accessing this piece on another domain, it was stolen and republished in violation of United States and international copyright laws. The correct version of this piece can be viewed at https://www.americanbankingnews.com/2017/10/23/fy2018-earnings-forecast-for-northern-trust-corporation-issued-by-jefferies-group-ntrs.html.

A number of other research firms have also recently weighed in on NTRS. Buckingham Research restated a “neutral” rating and issued a $103.00 price target (up previously from $93.00) on shares of Northern Trust Corporation in a report on Monday, July 10th. BidaskClub upgraded Northern Trust Corporation from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 5th. Zacks Investment Research upgraded Northern Trust Corporation from a “hold” rating to a “buy” rating and set a $110.00 price target on the stock in a report on Wednesday, July 12th. Morgan Stanley restated an “underweight” rating and issued a $86.00 price target (up previously from $80.00) on shares of Northern Trust Corporation in a report on Friday, July 7th. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $97.00 price target on shares of Northern Trust Corporation in a report on Thursday, June 29th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Northern Trust Corporation has a consensus rating of “Hold” and a consensus price target of $97.07.

Northern Trust Corporation (NASDAQ:NTRS) opened at 95.27 on Monday. The stock has a market cap of $21.77 billion, a P/E ratio of 21.63 and a beta of 0.93. The stock has a 50 day moving average price of $90.90 and a 200 day moving average price of $90.48. Northern Trust Corporation has a 52-week low of $69.92 and a 52-week high of $99.30.

The business also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Investors of record on Friday, December 1st will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend is Thursday, November 30th. Northern Trust Corporation’s payout ratio is currently 37.17%.

Northern Trust Corporation announced that its board has approved a share repurchase program on Wednesday, June 28th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the asset manager to purchase up to 3.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

In other Northern Trust Corporation news, Chairman Frederick H. Waddell sold 177,964 shares of the stock in a transaction on Wednesday, October 18th. The stock was sold at an average price of $95.64, for a total transaction of $17,020,476.96. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Clair Joyce St sold 7,665 shares of the stock in a transaction on Wednesday, October 18th. The stock was sold at an average price of $95.00, for a total value of $728,175.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 340,324 shares of company stock worth $31,864,839. 1.27% of the stock is owned by corporate insiders.

Several institutional investors have recently modified their holdings of the business. APG Asset Management N.V. lifted its stake in shares of Northern Trust Corporation by 45.2% during the 3rd quarter. APG Asset Management N.V. now owns 173,104 shares of the asset manager’s stock worth $15,913,000 after purchasing an additional 53,900 shares during the period. Shell Asset Management Co. lifted its stake in shares of Northern Trust Corporation by 187.4% during the 3rd quarter. Shell Asset Management Co. now owns 34,698 shares of the asset manager’s stock worth $2,361,000 after purchasing an additional 22,624 shares during the period. MPS Loria Financial Planners LLC purchased a new position in shares of Northern Trust Corporation during the 2nd quarter worth $134,000. Burgundy Asset Management Ltd. lifted its stake in shares of Northern Trust Corporation by 1.4% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 2,373,551 shares of the asset manager’s stock worth $230,733,000 after purchasing an additional 32,849 shares during the period. Finally, Toronto Dominion Bank lifted its stake in shares of Northern Trust Corporation by 25.9% during the 2nd quarter. Toronto Dominion Bank now owns 73,507 shares of the asset manager’s stock worth $7,145,000 after purchasing an additional 15,119 shares during the period. 81.89% of the stock is currently owned by institutional investors.

About Northern Trust Corporation

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 across the world. Its segments include Corporate & Institutional Services (C&IS), Wealth Management, and Treasury and Other.

Earnings History and Estimates for Northern Trust Corporation (NASDAQ:NTRS)

Receive News & Ratings for Northern Trust Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Northern Trust Corporation and related companies with MarketBeat.com's FREE daily email newsletter.