2,929 Shares in Northern Trust Corporation $NTRS Purchased by Oakmont Investment Advisors Inc.

Oakmont Investment Advisors Inc. purchased a new stake in shares of Northern Trust Corporation (NASDAQ:NTRS) in the 2nd quarter, Holdings Channel reports. The fund purchased 2,929 shares of the asset manager’s stock, valued at approximately $509,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Reflection Asset Management bought a new stake in Northern Trust during the fourth quarter worth about $25,000. Triumph Capital Management acquired a new stake in shares of Northern Trust during the third quarter worth approximately $25,000. Continuum Advisory LLC bought a new position in shares of Northern Trust in the second quarter valued at approximately $26,000. Basecamp Wealth Advisors LLC boosted its holdings in shares of Northern Trust by 99.0% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 203 shares of the asset manager’s stock worth $28,000 after acquiring an additional 101 shares in the last quarter. Finally, Keating Financial Advisory Services Inc. acquired a new position in shares of Northern Trust in the 2nd quarter worth approximately $31,000. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NTRS has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Northern Trust in a report on Friday, July 31st. Morgan Stanley boosted their price objective on Northern Trust from $170.00 to $173.00 and gave the stock an “underweight” rating in a research note on Thursday, July 23rd. Zacks Research cut Northern Trust from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 25th. Evercore set a $179.00 target price on Northern Trust in a research note on Monday, July 6th. Finally, Citigroup lifted their price target on Northern Trust from $162.00 to $172.00 and gave the company a “neutral” rating in a report on Tuesday, June 30th. Four equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $180.68.

Northern Trust Stock Down 0.4%

Shares of NTRS opened at $186.63 on Friday. The firm has a market capitalization of $34.15 billion, a price-to-earnings ratio of 16.02, a PEG ratio of 1.05 and a beta of 1.24. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.65 and a current ratio of 0.65. The business’s fifty day moving average price is $183.88 and its two-hundred day moving average price is $165.84. Northern Trust Corporation has a 52 week low of $121.12 and a 52 week high of $195.78.

Northern Trust (NASDAQ:NTRS) last released its earnings results on Wednesday, July 22nd. The asset manager reported $4.23 earnings per share for the quarter, topping analysts’ consensus estimates of $2.71 by $1.52. Northern Trust had a return on equity of 16.91% and a net margin of 14.76%.The company had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.69 billion. During the same quarter in the previous year, the company posted $2.13 earnings per share. The firm’s quarterly revenue was up 35.1% on a year-over-year basis. On average, analysts predict that Northern Trust Corporation will post 11.59 earnings per share for the current year.

Northern Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 4th will be given a $0.88 dividend. The ex-dividend date is Friday, September 4th. This is a positive change from Northern Trust’s previous quarterly dividend of $0.80. This represents a $3.52 dividend on an annualized basis and a yield of 1.9%. Northern Trust’s dividend payout ratio is 27.47%.

Insider Activity

In related news, Director Robert Moritz, Jr. purchased 255 shares of the business’s stock in a transaction dated Wednesday, July 29th. The shares were bought at an average price of $179.57 per share, with a total value of $45,790.35. Following the purchase, the director directly owned 8,400 shares in the company, valued at $1,508,388. This trade represents a 3.13% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, EVP Thomas South sold 1,800 shares of the firm’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $184.90, for a total value of $332,820.00. Following the transaction, the executive vice president owned 92,917 shares in the company, valued at approximately $17,180,353.30. This trade represents a 1.90% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.66% of the company’s stock.

Northern Trust Profile

Northern Trust Corporation (NASDAQ: NTRS) is a global financial services firm headquartered in Chicago that provides asset servicing, asset management and wealth management solutions to institutions, corporations and high-net-worth individuals. The company’s core businesses include custody and fund administration, investment operations outsourcing, trust and fiduciary services, private banking, and retirement and defined contribution plan services.

Northern Trust’s product and service offerings span custody and fund accounting, portfolio and performance analytics, securities lending, cash management and foreign exchange, as well as discretionary and non-discretionary investment management.