Northern Trust Co. (NASDAQ:NTRS – Get Rating) – Research analysts at Jefferies Financial Group lowered their Q1 2023 earnings per share estimates for shares of Northern Trust in a research note issued to investors on Sunday, January 22nd. Jefferies Financial Group analyst K. Usdin now anticipates that the asset manager will earn $1.60 per share for the quarter, down from their previous estimate of $1.70. The consensus estimate for Northern Trust’s current full-year earnings is $6.80 per share. Jefferies Financial Group also issued estimates for Northern Trust’s Q2 2023 earnings at $1.78 EPS, Q3 2023 earnings at $1.84 EPS, Q4 2023 earnings at $1.89 EPS, FY2023 earnings at $7.10 EPS and Q1 2024 earnings at $1.61 EPS.
A number of other equities research analysts also recently weighed in on the company. Morgan Stanley cut their price target on Northern Trust from $103.00 to $97.00 and set an “equal weight” rating for the company in a research note on Friday, January 20th. Citigroup cut their price target on Northern Trust from $92.00 to $85.00 and set a “neutral” rating for the company in a research note on Friday, October 21st. Royal Bank of Canada cut their price target on Northern Trust from $110.00 to $95.00 and set an “outperform” rating for the company in a research note on Thursday, October 20th. Evercore ISI cut their price target on Northern Trust to $85.00 in a research note on Thursday, October 20th. Finally, Wells Fargo & Company cut their price target on Northern Trust from $121.00 to $115.00 in a research note on Tuesday, December 13th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $100.68.
Northern Trust Stock Up 0.2 %
Northern Trust (NASDAQ:NTRS – Get Rating) last announced its quarterly earnings data on Thursday, January 19th. The asset manager reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.81 by ($1.10). The business had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.75 billion. Northern Trust had a return on equity of 14.89% and a net margin of 17.24%. The firm’s revenue was down 8.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.91 earnings per share.
Northern Trust Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Saturday, April 1st. Shareholders of record on Friday, March 10th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date is Thursday, March 9th. Northern Trust’s dividend payout ratio (DPR) is currently 48.86%.
Institutional Trading of Northern Trust
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Aaron Wealth Advisors LLC grew its holdings in Northern Trust by 32.5% in the 4th quarter. Aaron Wealth Advisors LLC now owns 23,093 shares of the asset manager’s stock valued at $2,044,000 after buying an additional 5,666 shares during the last quarter. Koshinski Asset Management Inc. grew its holdings in Northern Trust by 3.8% in the 4th quarter. Koshinski Asset Management Inc. now owns 6,612 shares of the asset manager’s stock valued at $585,000 after buying an additional 243 shares during the last quarter. Empirical Finance LLC grew its holdings in Northern Trust by 8.6% in the 4th quarter. Empirical Finance LLC now owns 5,503 shares of the asset manager’s stock valued at $487,000 after buying an additional 438 shares during the last quarter. Louisiana State Employees Retirement System grew its holdings in Northern Trust by 1.5% in the 4th quarter. Louisiana State Employees Retirement System now owns 13,500 shares of the asset manager’s stock valued at $1,195,000 after buying an additional 200 shares during the last quarter. Finally, National Bank of Canada FI grew its holdings in Northern Trust by 81.0% in the 4th quarter. National Bank of Canada FI now owns 55,130 shares of the asset manager’s stock valued at $4,878,000 after buying an additional 24,678 shares during the last quarter. Institutional investors and hedge funds own 81.44% of the company’s stock.
About Northern Trust
Northern Trust Corp. is a financial holding company, which engages in the provision of asset servicing, fund administration, asset management, fiduciary, and banking solutions for corporations, institutions, families, and individuals. It operates through the following segments: Corporate & Institutional Services and Wealth Management.
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