Northern Trust (NASDAQ:NTRS) Posts Earnings Results, Misses Expectations By $0.81 EPS

Northern Trust (NASDAQ:NTRSGet Free Report) released its quarterly earnings data on Thursday. The asset manager reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.81), RTT News reports. The business had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.71 billion. Northern Trust had a return on equity of 13.06% and a net margin of 10.44%. The firm’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.65 EPS.

Northern Trust Stock Performance

NASDAQ:NTRS opened at $80.91 on Friday. The company’s 50-day moving average price is $80.84 and its 200-day moving average price is $75.68. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 0.62. The company has a market cap of $16.75 billion, a P/E ratio of 15.35, a P/E/G ratio of 4.13 and a beta of 1.12. Northern Trust has a twelve month low of $62.44 and a twelve month high of $99.87.

Insiders Place Their Bets

In other news, EVP Susan Cohen Levy bought 5,000 shares of Northern Trust stock in a transaction on Tuesday, October 24th. The shares were bought at an average cost of $64.41 per share, with a total value of $322,050.00. Following the completion of the purchase, the executive vice president now directly owns 31,085 shares of the company’s stock, valued at $2,002,184.85. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Susan Cohen Levy purchased 5,000 shares of the company’s stock in a transaction on Tuesday, October 24th. The stock was acquired at an average cost of $64.41 per share, for a total transaction of $322,050.00. Following the completion of the transaction, the executive vice president now directly owns 31,085 shares in the company, valued at $2,002,184.85. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Michael O’grady purchased 20,000 shares of the company’s stock in a transaction on Monday, October 23rd. The shares were bought at an average price of $65.10 per share, with a total value of $1,302,000.00. Following the completion of the transaction, the chief executive officer now owns 219,779 shares of the company’s stock, valued at $14,307,612.90. The disclosure for this purchase can be found here. Insiders have bought 26,351 shares of company stock valued at $1,711,316 over the last ninety days. Company insiders own 0.63% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in NTRS. Norges Bank acquired a new position in Northern Trust during the 4th quarter worth approximately $134,901,000. Morgan Stanley grew its holdings in Northern Trust by 52.1% during the 4th quarter. Morgan Stanley now owns 2,014,774 shares of the asset manager’s stock worth $178,287,000 after acquiring an additional 689,920 shares in the last quarter. Eaton Vance Management grew its holdings in Northern Trust by 1,080.5% during the 1st quarter. Eaton Vance Management now owns 600,908 shares of the asset manager’s stock worth $69,974,000 after acquiring an additional 550,006 shares in the last quarter. Vanguard Group Inc. grew its holdings in Northern Trust by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 22,711,584 shares of the asset manager’s stock worth $2,644,763,000 after acquiring an additional 457,748 shares in the last quarter. Finally, Boston Trust Walden Corp grew its holdings in Northern Trust by 44.1% during the 2nd quarter. Boston Trust Walden Corp now owns 1,306,562 shares of the asset manager’s stock worth $96,869,000 after acquiring an additional 400,045 shares in the last quarter. Institutional investors and hedge funds own 81.64% of the company’s stock.

Analyst Upgrades and Downgrades

NTRS has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Northern Trust from $69.00 to $67.00 in a research report on Wednesday, October 11th. Barclays raised their price target on shares of Northern Trust from $90.00 to $98.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 2nd. Morgan Stanley raised their price target on shares of Northern Trust from $78.00 to $80.00 and gave the company an “equal weight” rating in a research report on Friday, December 1st. TheStreet upgraded shares of Northern Trust from a “c+” rating to a “b-” rating in a research report on Friday, January 12th. Finally, Wells Fargo & Company restated an “equal weight” rating and set a $71.00 price target (down previously from $90.00) on shares of Northern Trust in a research report on Thursday, October 19th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $81.63.

Check Out Our Latest Research Report on NTRS

Northern Trust Company Profile

(Get Free Report)

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.

See Also

Earnings History for Northern Trust (NASDAQ:NTRS)

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