Noteworthy Price Action: What’s Propelling Northern Trust Corporation to Reach 52-Week High?

Noteworthy Price Action: What's Propelling Northern Trust Corporation to Reach 52 Week High?

The stock of Northern Trust Corporation (NASDAQ:NTRS) hit a new 52-week high and has $93.16 target or 9.00% above today’s $85.47 share price. The 7 months bullish chart indicates low risk for the $19.58B company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $93.16 price target is reached, the company will be worth $1.76B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 2.46M shares traded hands or 64.00% up from the average. Northern Trust Corporation (NASDAQ:NTRS) has risen 14.72% since April 28, 2016 and is uptrending. It has outperformed by 8.79% the S&P500.

Analysts await Northern Trust Corporation (NASDAQ:NTRS) to report earnings on January, 18. They expect $1.13 earnings per share, up 14.14% or $0.14 from last year’s $0.99 per share. NTRS’s profit will be $258.87M for 18.91 P/E if the $1.13 EPS becomes a reality. After $1.08 actual earnings per share reported by Northern Trust Corporation for the previous quarter, Wall Street now forecasts 4.63% EPS growth.

Northern Trust Corporation (NASDAQ:NTRS) Ratings Coverage

Out of 8 analysts covering Northern Trust Corporation (NASDAQ:NTRS), 3 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 38% are positive. Northern Trust Corporation has been the topic of 30 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The stock of Northern Trust Corporation (NASDAQ:NTRS) has “Hold” rating given on Wednesday, October 5 by Deutsche Bank. The stock of Northern Trust Corporation (NASDAQ:NTRS) earned “Neutral” rating by Citigroup on Tuesday, June 28. The firm has “Hold” rating given on Monday, July 11 by Jefferies. The company was upgraded on Thursday, January 21 by RBC Capital Markets. The stock has “Hold” rating given by Deutsche Bank on Friday, May 27. The firm has “Buy” rating given on Friday, January 22 by Sandler O’Neill. On Friday, October 2 the stock rating was upgraded by UBS to “Neutral”. The firm has “Hold” rating given on Thursday, March 17 by Deutsche Bank. As per Monday, October 10, the company rating was maintained by . As per Wednesday, April 20, the company rating was downgraded by Citigroup.

According to Zacks Investment Research, “Northern Trust Corp. is a multi-bank holding company with worldwide locations and is a provider of treasury management, master trust, custody, retirement, risk and performance, international and investment management services for corporations, large institutions and individuals. Northern Trust has earned distinction as a leading provider of personal fiduciary, asset management, personal and private banking, and master trust/custody, global custody and treasury management services.”

Insitutional Activity: The institutional sentiment decreased to 1.04 in 2016 Q2. Its down 0.01, from 1.05 in 2016Q1. The ratio dived, as 40 funds sold all Northern Trust Corporation shares owned while 168 reduced positions. 48 funds bought stakes while 170 increased positions. They now own 183.41 million shares or 1.38% less from 185.99 million shares in 2016Q1.
Global X Management Communication Lc, a New York-based fund reported 1,545 shares. Everence Capital Mngmt last reported 8,415 shares in the company. Bradley Foster Sargent Ct accumulated 6,221 shares or 0.02% of the stock. Gofen And Glossberg Lc Il reported 152,213 shares or 0.42% of all its holdings. Moreover, Srb Corporation has 0.02% invested in Northern Trust Corporation (NASDAQ:NTRS) for 1,981 shares. Allianz Asset Mngmt Ag accumulated 59,000 shares or 0% of the stock. Ny State Teachers Retirement Sys last reported 366,377 shares in the company. Nj State Employees Deferred Compensation Plan reported 10,000 shares or 0.14% of all its holdings. Sumitomo Mitsui Trust has 0.07% invested in the company for 594,872 shares. First City Management has invested 0.61% of its portfolio in Northern Trust Corporation (NASDAQ:NTRS). King Luther Management accumulated 0.12% or 186,716 shares. Metropolitan Life Ins Ny reported 110,920 shares or 0.06% of all its holdings. Tokio Marine Asset Comm Ltd has invested 0.05% of its portfolio in Northern Trust Corporation (NASDAQ:NTRS). Bankshares Of The West last reported 0.06% of its portfolio in the stock. The Wisconsin-based Madison Investment has invested 0.24% in Northern Trust Corporation (NASDAQ:NTRS).

Insider Transactions: Since August 3, 2016, the stock had 0 insider buys, and 39 sales for $153.92 million net activity. Shares for $3.11M were sold by Schreuder Jana R on Friday, November 11. WADDELL FREDERICK H sold 195,260 shares worth $14.45M. $9.54 million worth of Northern Trust Corporation (NASDAQ:NTRS) was sold by Potter Stephen N. 25,899 shares were sold by Bowman Biff, worth $2.10M on Wednesday, November 16. 15,574 shares were sold by Pembleton Susan Gillian, worth $1.12M on Wednesday, November 2. Cohodes Jeffrey D. also sold $1.17 million worth of Northern Trust Corporation (NASDAQ:NTRS) shares. $1.59M worth of shares were sold by MORRISON WILLIAM L on Thursday, November 10.

Another recent and important Northern Trust Corporation (NASDAQ:NTRS) news was published by Nasdaq.com which published an article titled: “Northern Trust Corp (NTRS) Chairman, President and CEO Frederick H Waddell …” on November 17, 2016.

NTRS Company Profile

Northern Trust Corporation, incorporated on August 23, 1971, is a financial holding company. The Firm provides asset servicing, fund administration, asset management, fiduciary and banking solutions for firms, institutions, families and individuals around the world. The Company’s divisions include Corporate & Institutional Services (C&IS), Wealth Management, and Treasury and Other. The Firm conducts its business through various the United States and non-United States subsidiaries, including The Northern Trust Company (Bank). Asset Management, through the Company’s subsidiaries, supports the C&IS and Wealth Management divisions by providing a range of asset management and related services, and other products to clients around the world.

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