Oak Harvest Investment Services Makes New Investment in Northern Trust Co. (NASDAQ:NTRS)

Oak Harvest Investment Services purchased a new stake in Northern Trust Co. (NASDAQ:NTRS) during the 3rd quarter, HoldingsChannel reports. The institutional investor purchased 109,898 shares of the asset manager’s stock, valued at approximately $9,894,000. Northern Trust accounts for about 1.4% of Oak Harvest Investment Services’ holdings, making the stock its 21st largest position.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NTRS. CANADA LIFE ASSURANCE Co boosted its position in shares of Northern Trust by 6.8% during the first quarter. CANADA LIFE ASSURANCE Co now owns 360,640 shares of the asset manager’s stock worth $32,111,000 after buying an additional 23,020 shares during the period. Sequoia Financial Advisors LLC grew its position in Northern Trust by 557.8% in the 1st quarter. Sequoia Financial Advisors LLC now owns 30,813 shares of the asset manager’s stock valued at $2,740,000 after acquiring an additional 26,129 shares in the last quarter. Bessemer Group Inc. increased its stake in Northern Trust by 668.0% during the first quarter. Bessemer Group Inc. now owns 20,205 shares of the asset manager’s stock worth $1,797,000 after purchasing an additional 17,574 shares during the period. AIA Group Ltd lifted its position in shares of Northern Trust by 4.3% during the first quarter. AIA Group Ltd now owns 602,785 shares of the asset manager’s stock worth $53,600,000 after purchasing an additional 24,791 shares in the last quarter. Finally, Intech Investment Management LLC boosted its stake in shares of Northern Trust by 1,891.1% in the first quarter. Intech Investment Management LLC now owns 56,845 shares of the asset manager’s stock valued at $5,055,000 after purchasing an additional 53,990 shares during the period. 83.19% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Northern Trust

In other news, Director Charles A. Tribbett sold 1,855 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $88.12, for a total transaction of $163,462.60. Following the transaction, the director now directly owns 1,000 shares in the company, valued at approximately $88,120. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Northern Trust news, Vice Chairman Steven L. Fradkin sold 27,874 shares of Northern Trust stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $100.50, for a total value of $2,801,337.00. Following the transaction, the insider now directly owns 46,078 shares in the company, valued at approximately $4,630,839. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Charles A. Tribbett sold 1,855 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $88.12, for a total value of $163,462.60. Following the sale, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $88,120. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 65,636 shares of company stock worth $6,443,204. 0.64% of the stock is owned by insiders.

Northern Trust Stock Performance

Shares of NTRS stock opened at $101.46 on Thursday. Northern Trust Co. has a 1 year low of $64.96 and a 1 year high of $104.25. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a market cap of $20.46 billion, a price-to-earnings ratio of 12.62, a PEG ratio of 1.45 and a beta of 1.08. The stock’s 50-day moving average is $92.01 and its two-hundred day moving average is $87.08.

Northern Trust Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 6th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend is Friday, December 6th. Northern Trust’s dividend payout ratio (DPR) is 37.31%.

Analysts Set New Price Targets

Several equities analysts have commented on NTRS shares. Deutsche Bank Aktiengesellschaft raised their price target on shares of Northern Trust from $84.00 to $94.00 and gave the company a “hold” rating in a research report on Monday, September 23rd. Evercore ISI boosted their target price on Northern Trust from $86.00 to $103.00 and gave the stock an “in-line” rating in a research note on Thursday, October 24th. The Goldman Sachs Group lowered Northern Trust from a “neutral” rating to a “sell” rating and reduced their price target for the company from $84.00 to $82.00 in a research report on Thursday, September 26th. Wells Fargo & Company upped their target price on shares of Northern Trust from $92.00 to $108.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 24th. Finally, UBS Group raised their target price on shares of Northern Trust from $86.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, October 8th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $99.33.

About Northern Trust

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.