Northern Trust Corporation $NTRS Position Raised by Oak Harvest Investment Services

Oak Harvest Investment Services increased its holdings in Northern Trust Corporation (NASDAQ:NTRS) by 8.2% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 122,601 shares of the asset manager’s stock after buying an additional 9,286 shares during the period. Northern Trust accounts for approximately 1.7% of Oak Harvest Investment Services’ portfolio, making the stock its 10th largest holding. Oak Harvest Investment Services owned approximately 0.06% of Northern Trust worth $12,095,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Colonial Trust Co SC raised its position in shares of Northern Trust by 6,400.0% in the fourth quarter. Colonial Trust Co SC now owns 260 shares of the asset manager’s stock worth $27,000 after buying an additional 256 shares in the last quarter. Continuum Advisory LLC raised its position in shares of Northern Trust by 5,340.0% in the first quarter. Continuum Advisory LLC now owns 272 shares of the asset manager’s stock worth $27,000 after buying an additional 267 shares in the last quarter. Zions Bancorporation National Association UT purchased a new stake in shares of Northern Trust in the first quarter worth $29,000. Wayfinding Financial LLC purchased a new stake in shares of Northern Trust in the first quarter worth $35,000. Finally, True Wealth Design LLC raised its position in shares of Northern Trust by 84.0% in the fourth quarter. True Wealth Design LLC now owns 425 shares of the asset manager’s stock worth $44,000 after buying an additional 194 shares in the last quarter. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Northern Trust Stock Performance

Northern Trust stock opened at $130.06 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $24.87 billion, a PE ratio of 15.28, a P/E/G ratio of 1.55 and a beta of 1.28. The firm has a fifty day simple moving average of $125.33 and a two-hundred day simple moving average of $109.78. Northern Trust Corporation has a twelve month low of $81.62 and a twelve month high of $133.00.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings results on Wednesday, July 23rd. The asset manager reported $2.13 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.05. The business had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.96 billion. Northern Trust had a net margin of 11.75% and a return on equity of 14.06%. The firm’s revenue for the quarter was down 26.4% on a year-over-year basis. During the same period in the previous year, the firm posted $4.34 earnings per share. Research analysts expect that Northern Trust Corporation will post 8.27 EPS for the current year.

Northern Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Friday, September 5th will be paid a $0.80 dividend. This is a boost from Northern Trust’s previous quarterly dividend of $0.75. This represents a $3.20 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Friday, September 5th. Northern Trust’s payout ratio is presently 35.25%.

Wall Street Analysts Forecast Growth

NTRS has been the subject of several research reports. Morgan Stanley upped their target price on shares of Northern Trust from $103.00 to $106.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 1st. Royal Bank Of Canada set a $123.00 target price on shares of Northern Trust and gave the stock an “outperform” rating in a research report on Monday, June 30th. Keefe, Bruyette & Woods reiterated an “underperform” rating and issued a $118.00 target price (down from $120.00) on shares of Northern Trust in a research report on Thursday, July 24th. Truist Financial upped their target price on shares of Northern Trust from $128.00 to $132.00 and gave the stock a “hold” rating in a research report on Thursday, August 14th. Finally, Wells Fargo & Company upped their target price on shares of Northern Trust from $111.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 24th. Two investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $117.08.

Insiders Place Their Bets

In other Northern Trust news, Director Robert Edward Jr. Moritz purchased 256 shares of the stock in a transaction on Wednesday, August 13th. The stock was acquired at an average cost of $126.34 per share, with a total value of $32,343.04. Following the completion of the purchase, the director directly owned 2,525 shares of the company’s stock, valued at approximately $319,008.50. This trade represents a 11.28% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.77% of the stock is owned by corporate insiders.

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.