Oak Harvest Investment Services Grows Stake in Northern Trust Corporation $NTRS

Key Points

• Oak Harvest Investment Services increased its stake in Northern Trust Corporation by 8.2%, owning 122,601 shares after purchasing an additional 9,286 shares, making it the 10th largest holding in their portfolio.
• Northern Trust recently declared a quarterly dividend increase from $0.75 to $0.80, resulting in an annualized dividend of $3.20 and a yield of 2.5%.
• The company's stock performance has shown a significant fluctuation, with a 12-month low of $81.62 and a high of $133.00, while analysts expect a current year EPS of 8.27.

Oak Harvest Investment Services increased its position in Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 8.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 122,601 shares of the asset manager's stock after purchasing an additional 9,286 shares during the quarter. Northern Trust makes up 1.7% of Oak Harvest Investment Services' holdings, making the stock its 10th largest position. Oak Harvest Investment Services owned about 0.06% of Northern Trust worth $12,095,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Stifel Financial Corp boosted its stake in shares of Northern Trust by 3.4% in the fourth quarter. Stifel Financial Corp now owns 100,212 shares of the asset manager's stock valued at $10,272,000 after buying an additional 3,339 shares during the period. OneDigital Investment Advisors LLC acquired a new position in Northern Trust in the 4th quarter valued at $201,000. Hsbc Holdings PLC lifted its position in shares of Northern Trust by 3.8% during the 4th quarter. Hsbc Holdings PLC now owns 408,362 shares of the asset manager's stock valued at $41,852,000 after acquiring an additional 15,025 shares during the period. Coppell Advisory Solutions LLC acquired a new stake in shares of Northern Trust during the 4th quarter worth $44,000. Finally, Integrated Wealth Concepts LLC bought a new position in shares of Northern Trust in the fourth quarter worth $230,000. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Northern Trust Trading Down 0.4%

Shares of Northern Trust stock traded down $0.58 during midday trading on Thursday, reaching $130.99. The company had a trading volume of 997,217 shares, compared to its average volume of 1,564,779. The firm has a market cap of $25.05 billion, a PE ratio of 15.39, a P/E/G ratio of 1.57 and a beta of 1.28. The stock has a fifty day moving average price of $126.58 and a 200 day moving average price of $110.17. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.72 and a quick ratio of 0.72. Northern Trust Corporation has a fifty-two week low of $81.62 and a fifty-two week high of $133.00.

Northern Trust (NASDAQ:NTRS - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The asset manager reported $2.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.08 by $0.05. Northern Trust had a net margin of 11.75% and a return on equity of 14.06%. The firm had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter in the previous year, the company earned $4.34 EPS. The company's revenue for the quarter was down 26.4% on a year-over-year basis. On average, equities analysts anticipate that Northern Trust Corporation will post 8.27 earnings per share for the current year.

Northern Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 5th will be paid a dividend of $0.80 per share. This is an increase from Northern Trust's previous quarterly dividend of $0.75. This represents a $3.20 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Friday, September 5th. Northern Trust's payout ratio is 35.25%.

Insiders Place Their Bets

In other Northern Trust news, Director Robert Edward Jr. Moritz bought 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, for a total transaction of $32,343.04. Following the completion of the acquisition, the director owned 2,525 shares in the company, valued at $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 link. Insiders own 0.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on NTRS shares. Evercore ISI raised their target price on shares of Northern Trust from $108.00 to $121.00 and gave the company an "in-line" rating in a report on Wednesday, July 2nd. Royal Bank Of Canada set a $123.00 price objective on shares of Northern Trust and gave the company an "outperform" rating in a research note on Monday, June 30th. Barclays boosted their price objective on shares of Northern Trust from $128.00 to $136.00 and gave the company an "equal weight" rating in a research report on Thursday, July 24th. The Goldman Sachs Group raised their target price on Northern Trust from $89.00 to $101.00 and gave the company a "sell" rating in a report on Wednesday, July 2nd. Finally, Wall Street Zen cut Northern Trust from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Two equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Northern Trust presently has an average rating of "Reduce" and a consensus price target of $117.08.

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.