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

Oak Harvest Investment Services decreased its stake in shares of Northern Trust Corporation (NASDAQ:NTRS) by 34.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 75,604 shares of the asset manager’s stock after selling 40,541 shares during the quarter. Northern Trust comprises about 1.2% of Oak Harvest Investment Services’ portfolio, making the stock its 28th biggest holding. Oak Harvest Investment Services’ holdings in Northern Trust were worth $10,176,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in the stock. Retireful LLC acquired a new position in Northern Trust during the third quarter worth $581,000. Ethic Inc. increased its stake in shares of Northern Trust by 12.0% during the 3rd quarter. Ethic Inc. now owns 40,416 shares of the asset manager’s stock worth $5,440,000 after purchasing an additional 4,334 shares during the last quarter. Permanent Capital Management LP bought a new stake in shares of Northern Trust in the 3rd quarter valued at about $811,000. Perigon Wealth Management LLC lifted its stake in Northern Trust by 16.1% in the 3rd quarter. Perigon Wealth Management LLC now owns 1,909 shares of the asset manager’s stock valued at $257,000 after purchasing an additional 265 shares during the last quarter. Finally, Apollon Wealth Management LLC grew its holdings in Northern Trust by 8.4% during the third quarter. Apollon Wealth Management LLC now owns 4,298 shares of the asset manager’s stock worth $578,000 after purchasing an additional 334 shares during the period. Institutional investors and hedge funds own 83.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Zacks Research cut Northern Trust from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 9th. Keefe, Bruyette & Woods increased their price target on Northern Trust from $123.00 to $125.00 and gave the company an “underperform” rating in a research note on Thursday, October 23rd. Morgan Stanley lifted their price objective on shares of Northern Trust from $127.00 to $131.00 and gave the stock an “underweight” rating in a research report on Wednesday, December 17th. Weiss Ratings reissued a “buy (b-)” rating on shares of Northern Trust in a research report on Wednesday, October 8th. Finally, Truist Financial reduced their target price on shares of Northern Trust from $142.00 to $139.00 and set a “hold” rating for the company in a report on Thursday, October 23rd. Five investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Northern Trust presently has a consensus rating of “Hold” and an average price target of $132.46.

Northern Trust Stock Down 0.3%

NTRS opened at $139.71 on Tuesday. The stock 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 P/E ratio of 16.28, a P/E/G ratio of 1.51 and a beta of 1.27. Northern Trust Corporation has a fifty-two week low of $81.62 and a fifty-two week high of $141.25. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.70 and a current ratio of 0.70.

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

Northern Trust Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 1st. Investors of record on Friday, December 5th will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Friday, December 5th. Northern Trust’s payout ratio is 37.30%.

Insider Buying and Selling

In other news, EVP Susan Cohen Levy sold 27,591 shares of the 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 sale, the executive vice president directly owned 48,257 shares of the company’s stock, valued at approximately $6,183,169.41. This represents a 36.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John Landers sold 766 shares of the business’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $124.35, for a total value of $95,252.10. Following the completion of the transaction, the insider directly owned 7,313 shares of the company’s stock, valued at approximately $909,371.55. This trade represents a 9.48% decrease in their position. The SEC filing for this sale provides additional information. 0.77% of the stock is currently owned by company insiders.

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.