Northern Trust Co. (NASDAQ:NTRS) – Jefferies Group lowered their Q1 2018 earnings per share (EPS) estimates for Northern Trust in a research note issued on Wednesday. Jefferies Group analyst K. Usdin now anticipates that the asset manager will earn $1.39 per share for the quarter, down from their prior forecast of $1.44. Jefferies Group also issued estimates for Northern Trust’s Q4 2018 earnings at $1.70 EPS.
NTRS has been the topic of several other research reports. Citigroup reissued a “neutral” rating and issued a $92.00 price objective (up previously from $90.00) on shares of Northern Trust in a research report on Monday, October 9th. Sandler O’Neill reaffirmed a “hold” rating and set a $105.00 price target on shares of Northern Trust in a research report on Wednesday, January 10th. Wells Fargo & Co set a $105.00 price target on Northern Trust and gave the company a “hold” rating in a research report on Wednesday, December 20th. Royal Bank of Canada upped their price target on Northern Trust to $110.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Bank of America set a $102.00 price target on Northern Trust and gave the company a “buy” rating in a research report on Thursday, October 19th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $104.44.
Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings data on Wednesday, January 24th. The asset manager reported $1.35 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.30 by $0.05. Northern Trust had a return on equity of 12.77% and a net margin of 20.98%. The business had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the previous year, the firm earned $1.11 earnings per share. The business’s revenue was up 15.6% on a year-over-year basis.
Institutional investors and hedge funds have recently modified their holdings of the stock. Toronto Dominion Bank lifted its holdings in Northern Trust by 11.0% during the 3rd quarter. Toronto Dominion Bank now owns 81,627 shares of the asset manager’s stock worth $7,502,000 after purchasing an additional 8,120 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Northern Trust by 1.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 973,397 shares of the asset manager’s stock worth $89,484,000 after purchasing an additional 12,322 shares in the last quarter. Boston Common Asset Management LLC lifted its holdings in Northern Trust by 2.9% during the 2nd quarter. Boston Common Asset Management LLC now owns 60,330 shares of the asset manager’s stock worth $5,865,000 after purchasing an additional 1,700 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in Northern Trust by 11.3% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 79,364 shares of the asset manager’s stock worth $7,715,000 after purchasing an additional 8,072 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Northern Trust by 7,106.6% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 526,081 shares of the asset manager’s stock worth $51,140,000 after purchasing an additional 518,781 shares in the last quarter. 81.47% of the stock is currently owned by institutional investors and hedge funds.
In related news, Vice Chairman William L. Morrison sold 30,000 shares of the stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $96.48, for a total transaction of $2,894,400.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Clair Joyce St sold 18,489 shares of the stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $97.51, for a total value of $1,802,862.39. The disclosure for this sale can be found here. Insiders have sold a total of 126,695 shares of company stock worth $12,390,150 in the last ninety days. Insiders own 1.27% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Sunday, April 1st. Stockholders of record on Friday, March 9th will be given a dividend of $0.42 per share. The ex-dividend date is Thursday, March 8th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.58%. Northern Trust’s dividend payout ratio is presently 34.15%.
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Northern Trust 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 across the world. Its segments include Corporate & Institutional Services (C&IS), Wealth Management, and Treasury and Other.
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