Oak Harvest Investment Services Sells 40,541 Shares of Northern Trust Corporation $NTRS

Oak Harvest Investment Services lessened its holdings in Northern Trust Corporation (NASDAQ:NTRS) by 34.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 75,604 shares of the asset manager’s stock after selling 40,541 shares during the quarter. Northern Trust makes up approximately 1.2% of Oak Harvest Investment Services’ holdings, making the stock its 28th biggest holding. Oak Harvest Investment Services’ holdings in Northern Trust were worth $10,176,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. FNY Investment Advisers LLC bought a new position in Northern Trust in the second quarter valued at approximately $25,000. Hantz Financial Services Inc. boosted its position in shares of Northern Trust by 5,225.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 213 shares of the asset manager’s stock worth $27,000 after purchasing an additional 209 shares during the last quarter. AlphaCore Capital LLC grew its stake in shares of Northern Trust by 87.4% during the second quarter. AlphaCore Capital LLC now owns 208 shares of the asset manager’s stock worth $27,000 after purchasing an additional 97 shares during the period. Clearstead Trust LLC bought a new stake in Northern Trust in the second quarter valued at about $29,000. Finally, GFG Capital LLC acquired a new position in Northern Trust in the second quarter valued at about $35,000. 83.19% of the stock is owned by institutional investors.

Northern Trust Stock Down 0.3%

Shares of NTRS stock opened at $139.71 on Tuesday. Northern Trust Corporation has a 12-month low of $81.62 and a 12-month high of $141.25. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.58. The firm has a fifty day moving average of $131.79 and a 200-day moving average of $128.86. The company has a market capitalization of $26.42 billion, a price-to-earnings ratio of 16.28, a P/E/G ratio of 1.51 and a beta of 1.27.

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

Northern Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 1st. Investors of record on Friday, December 5th will be given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Friday, December 5th. Northern Trust’s dividend payout ratio (DPR) is currently 37.30%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on NTRS. Weiss Ratings restated a “buy (b-)” rating on shares of Northern Trust in a research report on Wednesday, October 8th. Zacks Research lowered shares of Northern Trust from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 9th. Cowen reaffirmed a “buy” rating on shares of Northern Trust in a research note on Thursday, October 23rd. Evercore ISI lifted 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 report on Tuesday, September 30th. Finally, BMO Capital Markets assumed coverage on shares of Northern Trust in a report on Friday, October 3rd. They issued a “market perform” rating and a $142.00 price target for the company. Five equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, Northern Trust has a consensus rating of “Hold” and a consensus target price of $132.46.

Insider Buying and Selling at Northern Trust

In other news, Director Robert Edward Jr. Moritz purchased 3,891 shares of Northern Trust stock in a transaction on Tuesday, November 4th. The stock was purchased at an average price of $128.57 per share, with a total value of $500,265.87. Following the transaction, the director directly owned 6,686 shares in the company, valued at $859,619.02. The trade was a 139.21% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Susan Cohen Levy sold 27,591 shares of the business’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $128.13, for a total transaction of $3,535,234.83. Following the completion of the sale, the executive vice president directly owned 48,257 shares in the company, valued at approximately $6,183,169.41. This represents a 36.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.77% 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.