Northern Trust (NASDAQ:NTRS) Issues Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Northern Trust (NASDAQ:NTRS) announced its earnings results on Tuesday. The asset manager reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.01, MarketWatch Earnings reports. Northern Trust had a net margin of 19.78% and a return on equity of 12.22%. The firm had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the prior year, the firm earned $1.46 EPS. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis.

Shares of Northern Trust stock opened at $113.60 on Thursday. The firm has a fifty day moving average of $116.65. Northern Trust has a 12-month low of $72.64 and a 12-month high of $123.10. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.66 and a current ratio of 0.66. The firm has a market cap of $23.64 billion, a PE ratio of 20.29 and a beta of 1.08.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 1st. Stockholders of record on Friday, September 10th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.46%. Northern Trust’s payout ratio is 48.03%.

In related news, CFO Jason J. Tyler sold 3,014 shares of the stock in a transaction on Friday, May 14th. The shares were sold at an average price of $120.03, for a total transaction of $361,770.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Clair Joyce St sold 9,248 shares of the stock in a transaction on Friday, April 23rd. The stock was sold at an average price of $107.42, for a total transaction of $993,420.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 136,528 shares of company stock valued at $16,008,516. Company insiders own 0.69% of the company’s stock.

NTRS has been the subject of several analyst reports. Keefe, Bruyette & Woods cut shares of Northern Trust from an “outperform” rating to a “market perform” rating and set a $128.00 price target for the company. in a report on Thursday, June 17th. Morgan Stanley lowered their price target on shares of Northern Trust from $131.00 to $126.00 and set an “equal weight” rating for the company in a report on Wednesday, April 21st. Credit Suisse Group boosted their price target on shares of Northern Trust from $104.00 to $108.00 and gave the stock an “underperform” rating in a report on Thursday. UBS Group upgraded shares of Northern Trust from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $89.00 to $106.00 in a report on Tuesday, April 13th. Finally, Barclays boosted their price target on shares of Northern Trust from $105.00 to $112.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 7th. Four analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. Northern Trust has an average rating of “Hold” and an average price target of $109.07.

About Northern Trust

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, Corporate & Institutional Services (C&IS) and Wealth Management.

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Earnings History for Northern Trust (NASDAQ:NTRS)

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