Oak Harvest Investment Services Decreases Holdings in Northern Trust Corporation $NTRS

Key Points

• Oak Harvest trimmed its stake by 36.5% in Q4, selling 27,608 shares and now holding 47,996 shares of Northern Trust valued at $6.556 million.
• Notable insider selling: CFO David W. Fox, Jr. sold 3,255 shares and COO Peter Cherecwich sold 25,000 shares, with insiders disposing of 34,905 shares worth $5.17 million in the last quarter (insiders now own 0.66% of the stock).
• Northern Trust has a $29.5 billion market cap, a P/E of 18.21, recently beat quarterly EPS expectations, and pays a $0.80 quarterly dividend (2.0% yield; 36.6% payout ratio).

Oak Harvest Investment Services trimmed its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 36.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 47,996 shares of the asset manager's stock after selling 27,608 shares during the period. Oak Harvest Investment Services' holdings in Northern Trust were worth $6,556,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Triumph Capital Management purchased a new position in Northern Trust in the 3rd quarter valued at about $25,000. Board of the Pension Protection Fund purchased a new position in Northern Trust in the 4th quarter valued at about $27,000. Olistico Wealth LLC purchased a new position in Northern Trust in the 4th quarter valued at about $41,000. True Wealth Design LLC boosted its position in Northern Trust by 98.7% in the 4th quarter. True Wealth Design LLC now owns 314 shares of the asset manager's stock valued at $43,000 after buying an additional 156 shares during the last quarter. Finally, Caldwell Trust Co acquired a new stake in shares of Northern Trust in the 2nd quarter valued at about $48,000. 83.19% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Northern Trust

In other Northern Trust news, CFO David W. Fox, Jr. sold 3,255 shares of the company's stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $143.89, for a total value of $468,361.95. Following the completion of the transaction, the chief financial officer owned 14,552 shares in the company, valued at approximately $2,093,887.28. This represents a 18.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Peter Cherecwich sold 25,000 shares of the company's stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $149.62, for a total transaction of $3,740,500.00. Following the completion of the transaction, the chief operating officer owned 26,259 shares of the company's stock, valued at approximately $3,928,871.58. This trade represents a 48.77% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 34,905 shares of company stock worth $5,166,714 in the last quarter. 0.66% of the stock is currently owned by corporate insiders.

Northern Trust Price Performance

NTRS opened at $159.16 on Friday. The firm has a market cap of $29.50 billion, a price-to-earnings ratio of 18.21, a price-to-earnings-growth ratio of 1.23 and a beta of 1.23. Northern Trust Corporation has a fifty-two week low of $85.72 and a fifty-two week high of $161.13. The company's 50-day moving average price is $143.90 and its 200 day moving average price is $138.67. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.57.

Northern Trust (NASDAQ:NTRS - Get Free Report) last released its quarterly earnings data on Friday, January 30th. The asset manager reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.37 by $0.05. The firm had revenue of $3.15 billion for the quarter. Northern Trust had a net margin of 12.15% and a return on equity of 14.87%. Northern Trust's revenue was up 8.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.26 EPS. As a group, sell-side analysts expect that Northern Trust Corporation will post 8.27 earnings per share for the current year.

Northern Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Friday, March 6th were paid a dividend of $0.80 per share. The ex-dividend date was Friday, March 6th. This represents a $3.20 annualized dividend and a yield of 2.0%. Northern Trust's dividend payout ratio is 36.61%.

Analyst Upgrades and Downgrades

NTRS has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of Northern Trust from a "sell" rating to a "hold" rating in a research note on Saturday, December 27th. Citigroup initiated coverage on shares of Northern Trust in a research note on Monday, February 23rd. They issued a "neutral" rating on the stock. BMO Capital Markets upgraded shares of Northern Trust from a "market perform" rating to an "outperform" rating and set a $168.00 target price on the stock in a research note on Monday, April 6th. Morgan Stanley upped their target price on shares of Northern Trust from $131.00 to $140.00 and gave the company an "underweight" rating in a research note on Friday, January 23rd. Finally, TD Cowen upped their target price on shares of Northern Trust from $165.00 to $175.00 and gave the company a "buy" rating in a research note on Monday, January 26th. Four research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $154.55.

Northern Trust Company 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.

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