During the last session, Northern Trust Corp. (NASDAQ:NTRS)’s traded shares were 11.96 million, with the beta value of the company hitting 1.14. At the end of the trading day, the stock’s price was $81.46, reflecting an intraday gain of 1.51% or $1.21. The 52-week high for the NTRS share is $90.59, that puts it down -11.21 from that peak though still a striking 23.35% gain since the share price plummeted to a 52-week low of $62.44. The company’s market capitalization is $16.69B, and the average intraday trading volume over the past 10 days was 1.85 million shares, and the average trade volume was 1.37 million shares over the past three months.
Northern Trust Corp. (NASDAQ:NTRS) trade information
Northern Trust Corp. (NTRS) registered a 1.51% upside in the last session and has traded in the red over the past 5 sessions. The stock spiked 1.51% in intraday trading to $81.46, hitting a weekly high. The stock’s 5-day price performance is -0.43%, and it has moved by 3.06% in 30 days. Based on these gigs, the overall price performance for the year is -3.72%. The short interest in Northern Trust Corp. (NASDAQ:NTRS) is 1.99 million shares and it means that shorts have 1.56 day(s) to cover.
Northern Trust Corp. (NTRS) estimates and forecasts
Statistics show that Northern Trust Corp. has outperformed its competitors in share price, compared to the industry in which it operates. Northern Trust Corp. (NTRS) shares have gone up 10.89% during the last six months, with a year-to-date growth rate more than the industry average at 0.80% against -6.70. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to shrink -8.60% this quarter and then jump 1.30% in the quarter after that. In the rating firms’ projections, revenue will increase 5.30% compared to the previous financial year.
Revenue for the current quarter is expected to be $1.73 billion as predicted by 12 analyst(s). Meanwhile, a consensus of 12 analyst(s) estimates revenue growth to $1.78 billion by the end of Jun 2024. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $1.78 billion and $1.77 billion respectively. In this case, analysts expect current quarter sales to shrink by -2.80% and then jump by 0.90% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -5.22%. While earnings are projected to return -0.46% in 2024, the next five years will return 8.92% per annum.
NTRS Dividends
Northern Trust Corp. is due to release its next quarterly earnings on April 26. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for Northern Trust Corp. is 3.00, with the dividend yield indicating at 3.68 percent, continuing the trend of increasing dividends in recent years.
Northern Trust Corp. (NASDAQ:NTRS)’s Major holders
Northern Trust Corp. insiders own 0.51% of total outstanding shares while institutional holders control 86.15%, with the float percentage being 86.60%. Vanguard Group Inc is the largest shareholder of the company, while 976 institutions own stock in it. As of Jun 29, 2023, the company held over 23.77 million shares (or 11.48% of all shares), a total value of $1.76 billion in shares.
The next largest institutional holding, with 15.46 million shares, is of Blackrock Inc.’s that is approximately 7.47% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $1.15 billion.
Also, the Mutual Funds coming in first place with the largest holdings of Northern Trust Corp. (NTRS) shares are Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund. Data provided on Jun 29, 2023 indicates that Vanguard Total Stock Market Index Fund owns about 6.19 million shares. This amounts to just over 2.99 percent of the company’s overall shares, with a $458.94 million market value. The same data shows that the other fund manager holds slightly less at 4.96 million, or about 2.40% of the stock, which is worth about $367.76 million.
