Northern Trust Co. (NASDAQ:NTRS) – Equities research analysts at Jefferies Financial Group reduced their FY2020 earnings per share estimates for shares of Northern Trust in a report issued on Tuesday, January 8th. Jefferies Financial Group analyst K. Usdin now forecasts that the asset manager will post earnings of $7.00 per share for the year, down from their previous estimate of $7.70. Jefferies Financial Group currently has a “Hold” rating on the stock.
Northern Trust (NASDAQ:NTRS) last released its quarterly earnings results on Wednesday, October 17th. The asset manager reported $1.58 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.61 by ($0.03). The company had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Northern Trust had a return on equity of 15.75% and a net margin of 23.28%. The company’s revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.20 EPS.
Several other research analysts have also commented on the company. BidaskClub lowered Northern Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, October 17th. Buckingham Research dropped their target price on Northern Trust from $119.00 to $114.00 and set a “neutral” rating for the company in a research report on Thursday, October 18th. Raymond James dropped their target price on Northern Trust from $122.00 to $115.00 and set a “strong-buy” rating for the company in a research report on Thursday, October 18th. Sandler O’Neill upgraded Northern Trust from a “hold” rating to a “buy” rating and set a $114.00 target price for the company in a research report on Thursday, October 18th. Finally, UBS Group boosted their target price on Northern Trust from $124.00 to $125.00 and gave the company a “buy” rating in a research report on Monday, October 8th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Northern Trust presently has a consensus rating of “Hold” and a consensus price target of $114.05.
NTRS opened at $85.65 on Thursday. The stock has a market capitalization of $18.84 billion, a P/E ratio of 17.73, a P/E/G ratio of 1.07 and a beta of 1.08. Northern Trust has a 12 month low of $75.96 and a 12 month high of $115.61. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.36.
The company also recently declared a quarterly dividend, which was paid on Tuesday, January 1st. Investors of record on Friday, December 14th were issued a $0.55 dividend. The ex-dividend date was Thursday, December 13th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.57%. Northern Trust’s payout ratio is 45.55%.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. QUANTRES ASSET MANAGEMENT Ltd purchased a new stake in shares of Northern Trust in the third quarter valued at approximately $398,000. Alliancebernstein L.P. boosted its holdings in shares of Northern Trust by 2.1% in the third quarter. Alliancebernstein L.P. now owns 949,439 shares of the asset manager’s stock valued at $96,966,000 after purchasing an additional 19,469 shares during the period. Fosun International Ltd purchased a new stake in shares of Northern Trust in the third quarter valued at approximately $224,000. Morgan Stanley boosted its holdings in shares of Northern Trust by 29.0% in the second quarter. Morgan Stanley now owns 911,274 shares of the asset manager’s stock valued at $93,762,000 after purchasing an additional 205,050 shares during the period. Finally, Raymond James Trust N.A. boosted its holdings in shares of Northern Trust by 16.3% in the third quarter. Raymond James Trust N.A. now owns 4,040 shares of the asset manager’s stock valued at $413,000 after purchasing an additional 566 shares during the period. Hedge funds and other institutional investors own 79.11% of the company’s stock.
About Northern Trust
Northern Trust Corporation, a financial holding company, provides asset servicing, fund administration, asset management, fiduciary, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates through Corporate & Institutional Services (C&IS) and Wealth Management segments.
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