Northern Trust (NASDAQ:NTRS) Posts Earnings Results, Beats Estimates By $0.05 EPS

Northern Trust (NASDAQ:NTRS) issued its quarterly earnings data on Tuesday. The asset manager reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.05, Zacks reports. Northern Trust had a return on equity of 13.74% and a net margin of 12.77%. The business had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $1.95 billion.

Northern Trust Stock Up 3.0 %

Northern Trust stock traded up $2.58 during midday trading on Tuesday, reaching $89.36. The company’s stock had a trading volume of 2,605,973 shares, compared to its average volume of 1,256,045. The stock has a market capitalization of $17.49 billion, a P/E ratio of 9.14, a PEG ratio of 1.72 and a beta of 1.10. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.68 and a quick ratio of 0.71. The stock’s 50-day simple moving average is $99.45 and its 200-day simple moving average is $102.89. Northern Trust has a 52-week low of $79.68 and a 52-week high of $114.67.

Northern Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 3.36%. The ex-dividend date of this dividend was Friday, March 14th. Northern Trust’s payout ratio is 30.67%.

Insider Buying and Selling

In related news, EVP Thomas A. South sold 3,804 shares of Northern Trust stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $113.00, for a total value of $429,852.00. Following the completion of the transaction, the executive vice president now owns 81,794 shares in the company, valued at $9,242,722. The trade was a 4.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jane Karpinski sold 2,262 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $111.33, for a total transaction of $251,828.46. Following the completion of the sale, the executive vice president now directly owns 17,236 shares of the company’s stock, valued at approximately $1,918,883.88. The trade was a 11.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,335 shares of company stock worth $3,970,211 in the last 90 days. Insiders own 0.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on NTRS shares. Truist Financial decreased their target price on Northern Trust from $116.00 to $98.00 and set a “hold” rating for the company in a research report on Friday, April 4th. The Goldman Sachs Group upped their price target on shares of Northern Trust from $92.00 to $102.00 and gave the stock a “sell” rating in a report on Friday, January 24th. Royal Bank of Canada raised their price target on Northern Trust from $107.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, January 24th. Morgan Stanley cut their price objective on Northern Trust from $136.00 to $132.00 and set an “equal weight” rating for the company in a report on Wednesday, April 2nd. Finally, Barclays lifted their target price on shares of Northern Trust from $115.00 to $118.00 and gave the company an “equal weight” rating in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Northern Trust currently has a consensus rating of “Hold” and a consensus price target of $113.08.

Northern Trust Company Profile

Northern Trust Corporation, a financial holding company, provides wealth management, asset servicing, asset management, and banking solutions for corporations, institutions, families, and individuals worldwide. It operates in two segments, Asset Servicing and Wealth Management. The Asset Servicing segment offers asset servicing and related services, including custody, fund administration, investment operations outsourcing, investment management, investment risk and analytical services, employee benefit services, securities lending, foreign exchange, treasury management, brokerage services, transition management services, banking, and cash management services.