Northern Trust (NASDAQ:NTRS) Announces Earnings Results
by Teresa Graham · The Cerbat GemNorthern Trust (NASDAQ:NTRS – Get Free Report) announced its quarterly earnings results on Tuesday. The asset manager reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.52 by $0.19, FiscalAI reports. The company had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.13 billion. Northern Trust had a net margin of 12.15% and a return on equity of 14.87%.
Northern Trust Trading Down 0.1%
Shares of NTRS stock opened at $158.99 on Tuesday. Northern Trust has a 1 year low of $85.72 and a 1 year high of $161.13. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.69 and a quick ratio of 0.69. The stock’s 50 day simple moving average is $143.98 and its two-hundred day simple moving average is $138.93. The company has a market cap of $29.46 billion, a PE ratio of 18.19, a price-to-earnings-growth ratio of 1.24 and a beta of 1.23.
Northern Trust Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Friday, March 6th were given a dividend of $0.80 per share. The ex-dividend date was Friday, March 6th. This represents a $3.20 dividend on an annualized basis and a yield of 2.0%. Northern Trust’s dividend payout ratio is 36.61%.
Insider Buying and Selling at Northern Trust
In other Northern Trust news, insider Guy Gibson sold 3,009 shares of the company’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $142.39, for a total transaction of $428,451.51. Following the sale, the insider directly owned 29,332 shares in the company, valued at $4,176,583.48. This represents a 9.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO David W. Fox, Jr. sold 3,255 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $143.89, for a total value of $468,361.95. Following the sale, the chief financial officer owned 14,552 shares in the company, valued at approximately $2,093,887.28. This trade represents a 18.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 34,905 shares of company stock valued at $5,166,714. Corporate insiders own 0.66% of the company’s stock.
Hedge Funds Weigh In On Northern Trust
Several hedge funds have recently added to or reduced their stakes in NTRS. Empowered Funds LLC grew its holdings in Northern Trust by 13.3% during the 1st quarter. Empowered Funds LLC now owns 20,112 shares of the asset manager’s stock valued at $1,984,000 after purchasing an additional 2,363 shares during the last quarter. Woodline Partners LP grew its holdings in Northern Trust by 39.1% during the 1st quarter. Woodline Partners LP now owns 16,557 shares of the asset manager’s stock valued at $1,633,000 after purchasing an additional 4,653 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Northern Trust by 79.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the asset manager’s stock valued at $171,000 after purchasing an additional 596 shares during the last quarter. WINTON GROUP Ltd bought a new position in Northern Trust during the 2nd quarter valued at about $267,000. Finally, Daiwa Securities Group Inc. grew its holdings in Northern Trust by 4.6% during the 2nd quarter. Daiwa Securities Group Inc. now owns 29,290 shares of the asset manager’s stock valued at $3,714,000 after purchasing an additional 1,275 shares during the last quarter. 83.19% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of analysts have issued reports on NTRS shares. Truist Financial reduced their price target on shares of Northern Trust from $160.00 to $155.00 and set a “hold” rating on the stock in a report on Wednesday, April 1st. Barclays upped their price objective on Northern Trust from $136.00 to $160.00 and gave the stock an “equal weight” rating in a report on Monday, January 5th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Northern Trust in a report on Thursday, January 22nd. Citigroup assumed coverage on Northern Trust in a report on Monday, February 23rd. They set a “neutral” rating on the stock. Finally, Wall Street Zen raised Northern Trust from a “sell” rating to a “hold” rating in a report on Saturday, December 27th. Four research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $154.55.
View Our Latest Research Report on Northern Trust
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.