Northern Trust Corporation $NTRS Shares Sold by Oak Harvest Investment Services

Oak Harvest Investment Services cut its stake in Northern Trust Corporation (NASDAQ:NTRS) by 5.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 116,145 shares of the asset manager’s stock after selling 6,456 shares during the quarter. Northern Trust makes up approximately 1.8% of Oak Harvest Investment Services’ portfolio, making the stock its 8th largest holding. Oak Harvest Investment Services owned approximately 0.06% of Northern Trust worth $14,726,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. FNY Investment Advisers LLC purchased a new position in shares of Northern Trust in the second quarter valued at approximately $25,000. Hantz Financial Services Inc. raised its stake in Northern Trust by 5,225.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 213 shares of the asset manager’s stock valued at $27,000 after purchasing an additional 209 shares during the last quarter. Zions Bancorporation National Association UT purchased a new position in Northern Trust in the 1st quarter valued at $29,000. Clearstead Trust LLC purchased a new position in Northern Trust in the 2nd quarter valued at $29,000. Finally, GFG Capital LLC acquired a new stake in Northern Trust during the 2nd quarter worth $35,000. 83.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Northern Trust news, EVP Susan Cohen Levy sold 27,591 shares of the company’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $128.13, for a total value of $3,535,234.83. Following the transaction, the executive vice president owned 48,257 shares of the company’s stock, valued at $6,183,169.41. This represents a 36.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Robert Edward Jr. Moritz bought 3,891 shares of the stock in a transaction on Tuesday, November 4th. The shares were bought at an average cost of $128.57 per share, with a total value of $500,265.87. Following the purchase, the director owned 6,686 shares of the company’s stock, valued at $859,619.02. This trade represents a 139.21% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.77% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on NTRS shares. Evercore ISI raised their price target on shares of Northern Trust from $125.00 to $135.00 and gave the stock an “in-line” rating in a research note on Tuesday, September 30th. TD Cowen raised their target price on shares of Northern Trust from $152.00 to $155.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Barclays boosted their target price on Northern Trust from $128.00 to $136.00 and gave the stock an “equal weight” rating in a report on Thursday, July 24th. Citigroup increased their price target on Northern Trust from $110.00 to $135.00 and gave the company a “neutral” rating in a report on Friday, September 5th. Finally, Morgan Stanley boosted their price objective on Northern Trust from $110.00 to $131.00 and gave the stock an “underweight” rating in a research note on Monday, September 29th. Five research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Northern Trust currently has a consensus rating of “Hold” and an average target price of $132.46.

Northern Trust Stock Down 2.6%

NTRS stock opened at $128.91 on Friday. Northern Trust Corporation has a one year low of $81.62 and a one year high of $135.48. The firm has a market cap of $24.38 billion, a PE ratio of 15.02, a PEG ratio of 1.37 and a beta of 1.32. The firm’s 50 day moving average price is $129.26 and its 200-day moving average price is $121.89. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.72 and a current ratio of 0.70.

Northern Trust (NASDAQ:NTRS) last posted its earnings results on Wednesday, October 22nd. The asset manager reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.03. Northern Trust had a return on equity of 14.37% and a net margin of 11.99%.The company had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.02 billion. During the same quarter last year, the firm earned $2.22 earnings per share. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. On average, equities research analysts anticipate that Northern Trust Corporation will post 8.27 EPS for the current year.

Northern Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 1st. Investors of record on Friday, December 5th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, December 5th. Northern Trust’s dividend payout ratio (DPR) is presently 37.30%.

Northern Trust Profile

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.