Northern Trust (NASDAQ:NTRS) Issues Earnings Results

Northern Trust (NASDAQ:NTRS) announced its earnings results on Thursday. The asset manager reported $2.26 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.30, Zacks reports. Northern Trust had a return on equity of 12.75% and a net margin of 10.92%.

Northern Trust Trading Down 0.3 %

Shares of NTRS stock opened at $107.39 on Thursday. The stock has a market cap of $21.29 billion, a P/E ratio of 13.36, a P/E/G ratio of 1.23 and a beta of 1.08. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. Northern Trust has a fifty-two week low of $76.67 and a fifty-two week high of $111.87. The business has a fifty day simple moving average of $105.76 and a 200-day simple moving average of $96.30.

Analyst Ratings Changes

NTRS has been the topic of a number of analyst reports. StockNews.com lowered shares of Northern Trust from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Morgan Stanley dropped their price target on shares of Northern Trust from $127.00 to $125.00 and set an “equal weight” rating on the stock in a research note on Friday, January 3rd. Truist Financial initiated coverage on shares of Northern Trust in a research report on Tuesday, January 7th. They issued a “hold” rating and a $110.00 price objective for the company. Wells Fargo & Company boosted their target price on Northern Trust from $108.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Friday, November 15th. Finally, Bank of America lifted their price target on Northern Trust from $103.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $107.17.

Insider Buying and Selling

In related news, Vice Chairman Steven L. Fradkin sold 27,874 shares of Northern Trust stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $100.50, for a total transaction of $2,801,337.00. Following the completion of the transaction, the insider now directly owns 46,078 shares in the company, valued at $4,630,839. The trade was a 37.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Susan Cohen Levy sold 19,585 shares of the stock in a transaction on Friday, October 25th. The shares were sold at an average price of $102.26, for a total value of $2,002,762.10. Following the sale, the executive vice president now owns 17,132 shares in the company, valued at approximately $1,751,918.32. This trade represents a 53.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 82,151 shares of company stock worth $8,489,889 in the last three months. Corporate insiders own 0.64% of the company’s stock.

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, 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.