Monthly Stock Report: Northern Trust Corporation (NTRS)
Publication Date: September 22, 2024
Company Overview
Northern Trust Corporation (NTRS) is a prominent financial holding company based in Chicago, Illinois, specializing in the financial services sector, particularly within asset management. Founded in 1889, Northern Trust serves a diverse clientele, including individuals, families, corporations, and institutions, through its two primary business segments: Asset Servicing and Wealth Management. The Asset Servicing segment focuses on providing custody and fund administration for institutional investors, while Wealth Management offers personalized financial consulting and investment management services targeting high-net-worth clients. As a publicly traded entity, NTRS plays a significant role in the global financial landscape, with total revenue reaching $7.61 billion, underpinning its robust operational performance.
Current Investment Outlook
As of September 2024, the investment recommendation for Northern Trust Corporation is to “hold.” Despite potential growth, analysts have set a high price target of $104.00, suggesting a cautious yet stable outlook for current investors. The stock is currently priced at $91.90, nearing its fifty-two week high of $92.82, indicating strong market performance. The established target mean price is $90.54, leading to a diverse range of price projections with a high of $104.00 and a low of $84.00, reflecting variability among expert assessments. With 201,638,000 shares outstanding and only 3,446,664 shares held short (approximately 0.0194% of the float), investor sentiment appears stable, and the stock is positioned well amid a competitive asset management environment.
Market Performance Insights
Northern Trust’s current share price of $91.90 is close to its fifty-day moving average of $87.55, suggesting a recent upward trend. The significant recovery from its fifty-two week low of $62.44 highlights a positive shift in market perception and investor interest, positioning the stock for potential breakout opportunities. The recent analyses form a consensus recommendation score of 2.9, advocating for a hold, with analysts indicating that while the stock possesses potential, it might not be the ideal time for substantial investments. Given its impressive revenue performance and relatively low short interest, Northern Trust Corporation continues to showcase resilience and a conscientious investment opportunity in the financial services sector.
| Metric | Value |
|---|---|
| Market Cap | $18.5b |
| Total Debt | $17.7b |
| Total Cash | $9.9b |
| Shares Outstanding | 201.6m |
| Float Shares | 198.6m |
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