Oak Harvest Investment Services Invests $9.89 Million in Northern Trust Co. (NASDAQ:NTRS)

Oak Harvest Investment Services acquired a new stake in shares of Northern Trust Co. (NASDAQ:NTRS) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 109,898 shares of the asset manager’s stock, valued at approximately $9,894,000. Northern Trust makes up approximately 1.4% of Oak Harvest Investment Services’ investment portfolio, making the stock its 21st biggest holding. Oak Harvest Investment Services owned about 0.05% of Northern Trust as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allworth Financial LP grew its position in shares of Northern Trust by 9.1% in the 3rd quarter. Allworth Financial LP now owns 1,170 shares of the asset manager’s stock worth $105,000 after buying an additional 98 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its position in shares of Northern Trust by 14.5% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 922 shares of the asset manager’s stock valued at $83,000 after purchasing an additional 117 shares during the last quarter. DekaBank Deutsche Girozentrale grew its position in Northern Trust by 0.3% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 43,713 shares of the asset manager’s stock worth $3,608,000 after purchasing an additional 120 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Northern Trust by 1.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 10,584 shares of the asset manager’s stock worth $889,000 after buying an additional 131 shares during the last quarter. Finally, Koshinski Asset Management Inc. lifted its stake in shares of Northern Trust by 2.4% during the third quarter. Koshinski Asset Management Inc. now owns 6,488 shares of the asset manager’s stock worth $584,000 after buying an additional 153 shares during the period. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Insider Activity

In other Northern Trust news, EVP Susan Cohen Levy sold 19,585 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $102.26, for a total value of $2,002,762.10. Following the transaction, the executive vice president now owns 17,132 shares in the company, valued at approximately $1,751,918.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Charles A. Tribbett sold 1,855 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $88.12, for a total transaction of $163,462.60. Following the completion of the sale, the director now owns 1,000 shares of the company’s stock, valued at approximately $88,120. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Susan Cohen Levy sold 19,585 shares of the stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $102.26, for a total transaction of $2,002,762.10. Following the completion of the sale, the executive vice president now owns 17,132 shares of the company’s stock, valued at approximately $1,751,918.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 65,636 shares of company stock worth $6,443,204 over the last quarter. 0.64% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Evercore ISI raised 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. Wells Fargo & Company increased their price objective 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. Deutsche Bank Aktiengesellschaft boosted their target price 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. UBS Group lifted their price objective on Northern Trust from $86.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, October 8th. Finally, Bank of America upped their target price on Northern Trust from $103.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $99.33.

Northern Trust Stock Down 0.8 %

NTRS opened at $101.46 on Thursday. The company has a market cap of $20.46 billion, a PE ratio of 12.62, a price-to-earnings-growth ratio of 1.45 and a beta of 1.08. Northern Trust Co. has a twelve month low of $64.96 and a twelve month high of $104.25. The company has a 50-day moving average price of $92.01 and a 200 day moving average price of $87.08. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58.

Northern Trust Announces Dividend

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

Northern Trust Company 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.