Q3 2020 EPS Estimates for Northern Trust Co. Lifted by Analyst (NASDAQ:NTRS)
Northern Trust Co. (NASDAQ:NTRS) – Stock analysts at Piper Sandler boosted their Q3 2020 earnings estimates for shares of Northern Trust in a research note issued on Wednesday, July 8th. Piper Sandler analyst J. Harte now anticipates that the asset manager will earn $1.45 per share for the quarter, up from their prior forecast of $1.35. Piper Sandler also issued estimates for Northern Trust’s Q4 2020 earnings at $1.52 EPS, FY2020 earnings at $5.87 EPS and Q4 2021 earnings at $1.69 EPS.
Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings results on Tuesday, April 21st. The asset manager reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.10. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.54 billion. Northern Trust had a net margin of 21.88% and a return on equity of 15.18%. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.48 earnings per share.
Shares of NASDAQ NTRS opened at $81.57 on Monday. The company has a market cap of $16.68 billion, a PE ratio of 12.19, a price-to-earnings-growth ratio of 1.31 and a beta of 1.09. Northern Trust has a 12 month low of $60.67 and a 12 month high of $110.48. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.68 and a quick ratio of 0.68. The company has a 50-day simple moving average of $81.58 and a 200-day simple moving average of $86.45.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank acquired a new position in shares of Northern Trust in the 4th quarter valued at about $162,543,000. Nuance Investments LLC lifted its holdings in Northern Trust by 376.4% in the first quarter. Nuance Investments LLC now owns 1,589,256 shares of the asset manager’s stock worth $119,925,000 after acquiring an additional 1,255,681 shares during the last quarter. Fiduciary Management Inc. WI lifted its holdings in Northern Trust by 52.6% in the first quarter. Fiduciary Management Inc. WI now owns 3,603,764 shares of the asset manager’s stock worth $271,940,000 after acquiring an additional 1,242,291 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Northern Trust by 59.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,757,978 shares of the asset manager’s stock worth $132,658,000 after acquiring an additional 653,203 shares during the last quarter. Finally, Kingstown Capital Management L.P. bought a new position in Northern Trust in the first quarter worth about $37,730,000. Institutional investors and hedge funds own 82.62% of the company’s stock.
In other Northern Trust news, EVP Mark C. Gossett sold 5,115 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $83.08, for a total transaction of $424,954.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Robert P. Browne sold 5,000 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $84.82, for a total value of $424,100.00. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Friday, June 12th were paid a $0.70 dividend. The ex-dividend date of this dividend was Thursday, June 11th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 3.43%. Northern Trust’s dividend payout ratio (DPR) is presently 42.23%.
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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