Northern Trust (NASDAQ:NTRS) Shares Gap Up Following Better-Than-Expected Earnings

Northern Trust Co. (NASDAQ:NTRS - Get Free Report)'s share price gapped up before the market opened on Tuesday following a stronger than expected earnings report. The stock had previously closed at $86.78, but opened at $92.55. Northern Trust shares last traded at $90.55, with a volume of 245,202 shares changing hands.

The asset manager reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.05. The company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.95 billion. Northern Trust had a net margin of 12.77% and a return on equity of 13.74%.

Northern Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 6th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 3.28%. The ex-dividend date of this dividend is Friday, June 6th. Northern Trust's dividend payout ratio (DPR) is presently 27.99%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on NTRS. Keefe, Bruyette & Woods raised their price objective on shares of Northern Trust from $113.00 to $122.00 and gave the company a "market perform" rating in a research report on Friday, January 24th. UBS Group boosted their price target on shares of Northern Trust from $110.00 to $114.00 and gave the company a "neutral" rating in a research report on Monday, January 27th. Barclays increased their price objective on Northern Trust from $115.00 to $118.00 and gave the stock an "equal weight" rating in a research report on Monday, January 6th. Evercore ISI decreased their target price on Northern Trust from $104.00 to $100.00 and set an "in-line" rating on the stock in a research note on Wednesday. Finally, Morgan Stanley dropped their price target on Northern Trust from $136.00 to $132.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 2nd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $110.83.

Insiders Place Their Bets

In other Northern Trust news, COO Peter Cherecwich sold 26,132 shares of the business's stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $112.36, for a total value of $2,936,191.52. Following the completion of the sale, the chief operating officer now owns 26,586 shares in the company, valued at approximately $2,987,202.96. The trade was a 49.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Thomas A. South sold 3,804 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $113.00, for a total transaction 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. This represents a 4.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,335 shares of company stock valued at $3,970,211 over the last three months. Insiders own 0.77% of the company's stock.

Institutional Investors Weigh In On Northern Trust

Institutional investors have recently added to or reduced their stakes in the company. Mather Group LLC. raised its stake in shares of Northern Trust by 20.9% during the first quarter. Mather Group LLC. now owns 3,426 shares of the asset manager's stock valued at $338,000 after acquiring an additional 592 shares during the last quarter. Amalgamated Bank increased its holdings in Northern Trust by 0.5% during the 1st quarter. Amalgamated Bank now owns 38,065 shares of the asset manager's stock valued at $3,755,000 after purchasing an additional 172 shares during the period. Sunbelt Securities Inc. raised its position in Northern Trust by 30.5% during the 1st quarter. Sunbelt Securities Inc. now owns 942 shares of the asset manager's stock valued at $93,000 after purchasing an additional 220 shares during the last quarter. U S Global Investors Inc. lifted its holdings in Northern Trust by 68.3% in the 1st quarter. U S Global Investors Inc. now owns 11,950 shares of the asset manager's stock worth $1,179,000 after buying an additional 4,850 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Northern Trust by 23.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,305 shares of the asset manager's stock worth $2,653,000 after buying an additional 5,244 shares during the last quarter. Hedge funds and other institutional investors own 83.19% of the company's stock.

Northern Trust Stock Down 0.9 %

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 has a market capitalization of $17.92 billion, a PE ratio of 9.37, a PEG ratio of 1.72 and a beta of 1.10. The company has a 50 day moving average price of $97.80 and a 200-day moving average price of $102.81.

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.