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

Oak Harvest Investment Services acquired a new position in shares of Northern Trust Co. (NASDAQ:NTRS - Free Report) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 109,898 shares of the asset manager's stock, valued at approximately $9,894,000. Northern Trust comprises about 1.4% of Oak Harvest Investment Services' investment portfolio, making the stock its 21st largest holding. Oak Harvest Investment Services owned 0.05% of Northern Trust as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Olistico Wealth LLC acquired a new stake in shares of Northern Trust in the second quarter valued at approximately $25,000. Innealta Capital LLC acquired a new stake in shares of Northern Trust in the 2nd quarter valued at $26,000. Ridgewood Investments LLC acquired a new stake in shares of Northern Trust in the 2nd quarter valued at $30,000. Versant Capital Management Inc raised its holdings in Northern Trust by 343.9% in the 2nd quarter. Versant Capital Management Inc now owns 435 shares of the asset manager's stock worth $37,000 after acquiring an additional 337 shares during the period. Finally, Northwest Investment Counselors LLC bought a new position in shares of Northern Trust during the 3rd quarter worth about $39,000. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on NTRS. Wells Fargo & Company boosted their price target on shares of Northern Trust from $92.00 to $108.00 and gave the company an "equal weight" rating in a research report on Thursday, October 24th. Bank of America increased their price objective on shares of Northern Trust from $103.00 to $115.00 and gave the stock a "buy" rating in a research report on Thursday, October 24th. Royal Bank of Canada increased their price target on shares of Northern Trust from $100.00 to $107.00 and gave the company an "outperform" rating in a research note on Thursday, October 24th. UBS Group raised their target price on shares of Northern Trust from $86.00 to $92.00 and gave the stock a "neutral" rating in a research note on Tuesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Northern Trust from $84.00 to $94.00 and gave the company a "hold" rating in a report on Monday, September 23rd. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $99.33.

Insiders Place Their Bets

In related news, EVP Teresa Parker sold 5,883 shares of the firm's stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $84.06, for a total transaction of $494,524.98. Following the completion of the sale, the executive vice president now directly owns 83,765 shares in the company, valued at approximately $7,041,285.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Teresa Parker sold 5,883 shares of the company's stock in a transaction on Friday, August 9th. The stock was sold at an average price of $84.06, for a total transaction of $494,524.98. Following the sale, the executive vice president now owns 83,765 shares of the company's stock, valued at approximately $7,041,285.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Susan Cohen Levy sold 19,585 shares of the firm's stock in a transaction dated 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 sale, the executive vice president now directly owns 17,132 shares in the company, valued at $1,751,918.32. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 65,636 shares of company stock worth $6,443,204. 0.64% of the stock is owned by corporate insiders.

Northern Trust Stock Down 0.4 %

Shares of NASDAQ NTRS traded down $0.37 during midday trading on Thursday, reaching $101.09. 243,364 shares of the company's stock traded hands, compared to its average volume of 1,306,771. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. The company has a market cap of $20.38 billion, a price-to-earnings ratio of 12.49, a P/E/G ratio of 1.45 and a beta of 1.08. Northern Trust Co. has a one year low of $64.96 and a one year high of $104.25. The stock's 50 day simple moving average is $92.01 and its 200-day simple moving average is $87.08.

Northern Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 6th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 2.97%. The ex-dividend date is Friday, December 6th. Northern Trust's dividend payout ratio is currently 37.31%.

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.