The Vanguard Group, Inc. recently announced the acquisition of new stake in Northern Trust Corporation (NASDAQ:NTRS). The institutional investor has increased its shareholding in the Financial company by 0.90% to 22.8 million shares with purchase of 0.2 million shares. This fresh investment now brings its stake to 10.94% valued currently at $2.17 billion. In addition, American Century Investment Manag raised its holdings by 0.57 million to 6.23 million shares. And Fidelity Management & Research Co has lifted its position by 4.34% or 0.21 million shares – to 5.1 million shares.
With over 2.91 million Northern Trust Corporation (NTRS) shares trading Tuesday and a closing price of $86.27 on the day, the dollar volume was approximately $250.96 million. The shares have shown a negative half year performance of -12.41% and its price on 03/14/23 gained nearly 4.94%. Currently, there are 208.42M common shares owned by the public and among those 207.30M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 18 analysts who have offered their price forecasts for NTRS have a consensus price objective of $98.07. The analysts have set the share’s price value over the next 12 months at a high of $118.00 and a low of $84.00. The average price target is 12.45% above its recent price level and a downside to the estimated low will see the stock lose -2.7% over that period. But an upside of 26.89% will see the stock hit the forecast high price target while median target price for the stock is $95.00.
Insiders at the company have transacted a total of 115 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 97 of these insider trades were purchases, accounting for 321,464 shares. Insider sales of the common stock occurred on 18 occasions, with total insider shares sold totaling 77,286 shares.
The top 3 mutual fund holders in Northern Trust Corporation are Vanguard Total Stock Market Index, Vanguard 500 Index Fund, and Vanguard Mid Cap Index Fund. Vanguard Total Stock Market Index owns 6.07 million shares of the company’s stock, all valued at over $577.87 million. The company bought an additional 41616.0 shares recently to bring their total holdings to about 2.91% of the shares outstanding. Vanguard 500 Index Fund bought 11429.0 shares to see its total holdings expand to 4.83 million shares valued at over $460.06 million and representing 2.32% of the shares outstanding. Vanguard Mid Cap Index Fund bought 7417.0 shares to bring its total holdings to over 4.61 million shares at a value of $439.33 million. Vanguard Mid Cap Index Fund now owns shares totaling to 2.21% of the shares outstanding.
Shares of Northern Trust Corporation (NASDAQ: NTRS) opened at $85.15, up $2.94 from a prior closing price of $82.21. However, the script later moved the day high at 86.44, up 4.94%. The company’s stock has a 5-day price change of -6.86% and -1.81% over the past three months. NTRS shares are trading -2.51% year to date (YTD), with the 12-month market performance down to -17.95% lower. It has a 12-month low price of $76.15 and touched a high of $121.25 over the same period. NTRS has an average intraday trading volume of 1.08 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -7.61%, -8.80%, and -8.21% respectively.
Institutional ownership of Northern Trust Corporation (NASDAQ: NTRS) shares accounts for 85.10% of the company’s 208.42M shares outstanding. Mutual fund holders own 51.27%, while other institutional holders and individual stakeholders account for 9.31% and 34.11% respectively.
It has a market capitalization of $18.38B and a beta (3y monthly) value of 1.11. The stock’s trailing 12-month PE ratio is 14.05, while the earnings-per-share (ttm) stands at $6.14. The company has a PEG of 3.18 and the debt-to-equity ratio at 13.38. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.66% over the week and 2.60% over the month.
Analysts forecast that Northern Trust Corporation (NTRS) will achieve an EPS of $1.54 for the current quarter, $1.74 for the next quarter and $7.55 for 2024. The lowest estimate earnings-per-share for the quarter is $1.43 while analysts give the company a high EPS estimate of $1.67. Comparatively, EPS for the current quarter was $1.77 a year ago. Earnings per share for the fiscal year are expected to decrease by -14.00%, and 9.04% over the next financial year. EPS should shrink at an annualized rate of 4.42% over the next five years, compared to 5.50% over the past 5-year period.
Looking at the support for the NTRS, a number of firms have released research notes about the stock. Goldman stated their Neutral rating for the stock in a research note on January 04, 2023, with the firm’s price target at $97-$95. Deutsche Bank coverage for the Northern Trust Corporation (NTRS) stock in a research note released on October 20, 2022 offered a Hold rating with a price target of $87. Goldman was of a view on March 30, 2022 that the stock is Buy, while Keefe Bruyette gave the stock Outperform rating on January 11, 2022, issuing a price target of $130- $152. Seaport Research Partners on their part issued Buy rating on January 05, 2022.
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