Horizon Investment Services LLC Takes Position in Northern Trust Corporation $NTRS

Horizon Investment Services LLC purchased a new stake in Northern Trust Corporation (NASDAQ:NTRS) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 31,558 shares of the asset manager’s stock, valued at approximately $5,486,000. Northern Trust makes up 1.5% of Horizon Investment Services LLC’s investment portfolio, making the stock its 24th largest holding.

A number of other large investors also recently bought and sold shares of NTRS. State Street Corp raised its stake in shares of Northern Trust by 1.0% during the 3rd quarter. State Street Corp now owns 9,493,634 shares of the asset manager’s stock worth $1,285,236,000 after buying an additional 97,584 shares during the period. Invesco Ltd. grew its stake in Northern Trust by 8.7% in the 4th quarter. Invesco Ltd. now owns 3,747,840 shares of the asset manager’s stock valued at $511,917,000 after acquiring an additional 301,164 shares during the period. Goldman Sachs Group Inc. increased its holdings in Northern Trust by 5.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,894,755 shares of the asset manager’s stock worth $395,395,000 after acquiring an additional 161,826 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Northern Trust by 1.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,455,996 shares of the asset manager’s stock worth $342,744,000 after acquiring an additional 36,322 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in shares of Northern Trust during the 2nd quarter worth about $361,079,000. Institutional investors and hedge funds own 83.19% of the company’s stock.

Insider Buying and Selling

In other news, Director Robert Edward Jr. Moritz acquired 255 shares of the company’s stock in a transaction on Wednesday, July 29th. The shares were bought at an average cost of $179.57 per share, with a total value of $45,790.35. Following the transaction, the director owned 8,400 shares in the company, valued at approximately $1,508,388. This trade represents a 3.13% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.66% of the stock is owned by company insiders.

Northern Trust Stock Performance

Shares of Northern Trust stock opened at $191.41 on Monday. The business has a 50-day simple moving average of $179.86 and a 200-day simple moving average of $162.07. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.65 and a current ratio of 0.65. Northern Trust Corporation has a one year low of $121.12 and a one year high of $195.78. The company has a market cap of $35.02 billion, a PE ratio of 16.43, a P/E/G ratio of 1.08 and a beta of 1.25.

Northern Trust Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 4th will be issued a dividend of $0.88 per share. This is a boost from Northern Trust’s previous quarterly dividend of $0.80. The ex-dividend date is Friday, September 4th. This represents a $3.52 annualized dividend and a yield of 1.8%. Northern Trust’s dividend payout ratio (DPR) is presently 27.47%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. JPMorgan Chase & Co. increased their price objective on Northern Trust from $179.50 to $185.50 and gave the company a “neutral” rating in a research note on Tuesday, August 4th. Morgan Stanley raised their price target on shares of Northern Trust from $170.00 to $173.00 and gave the stock an “underweight” rating in a report on Thursday, July 23rd. Bank of America boosted their price objective on shares of Northern Trust from $190.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, July 7th. UBS Group set a $186.00 target price on Northern Trust in a research report on Friday, June 26th. Finally, Royal Bank Of Canada lowered shares of Northern Trust from an “outperform” rating to a “sector perform” rating and set a $178.00 price target on the stock. in a research note on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Northern Trust presently has an average rating of “Hold” and a consensus target price of $180.68.

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.