Oppenheimer Asset Management Inc. Increases Holdings in Northern Trust Corporation $NTRS

Oppenheimer Asset Management Inc. lifted its position in shares of Northern Trust Corporation (NASDAQ:NTRS) by 34.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 152,150 shares of the asset manager’s stock after acquiring an additional 38,647 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Northern Trust were worth $19,291,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of NTRS. Bank of New York Mellon Corp boosted its stake in shares of Northern Trust by 47.8% during the 1st quarter. Bank of New York Mellon Corp now owns 1,810,816 shares of the asset manager’s stock worth $178,637,000 after acquiring an additional 585,992 shares in the last quarter. Invesco Ltd. raised its stake in shares of Northern Trust by 19.3% during the 1st quarter. Invesco Ltd. now owns 3,443,599 shares of the asset manager’s stock worth $339,711,000 after buying an additional 558,287 shares during the last quarter. RNC Capital Management LLC acquired a new position in shares of Northern Trust during the 1st quarter worth $41,905,000. Nuveen LLC acquired a new position in shares of Northern Trust during the 1st quarter worth $41,834,000. Finally, Allianz Asset Management GmbH raised its stake in shares of Northern Trust by 529.4% during the 1st quarter. Allianz Asset Management GmbH now owns 461,383 shares of the asset manager’s stock worth $45,515,000 after buying an additional 388,081 shares during the last quarter. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Analyst Upgrades and Downgrades

NTRS has been the subject of a number of recent research reports. BMO Capital Markets started coverage on shares of Northern Trust in a research note on Friday, October 3rd. They set a “market perform” rating and a $142.00 price objective for the company. Evercore ISI upped their target price on Northern Trust from $125.00 to $135.00 and gave the company an “in-line” rating in a research note on Tuesday, September 30th. Truist Financial decreased their price objective on Northern Trust from $142.00 to $139.00 and set a “hold” rating on the stock in a research note on Thursday. Wall Street Zen lowered Northern Trust from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, TD Cowen increased their price objective on Northern Trust from $152.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday. Five analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $130.71.

Insiders Place Their Bets

In other news, Director Robert Edward Jr. Moritz bought 256 shares of Northern Trust stock in a transaction that occurred on Wednesday, August 13th. The shares were purchased at an average price of $126.34 per share, for a total transaction of $32,343.04. Following the completion of the acquisition, the director owned 2,525 shares of the company’s stock, valued at $319,008.50. The trade was a 11.28% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.77% of the company’s stock.

Northern Trust Price Performance

Northern Trust stock opened at $126.03 on Friday. Northern Trust Corporation has a 1 year low of $81.62 and a 1 year high of $135.48. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.72 and a current ratio of 0.70. The firm has a 50 day moving average price of $129.59 and a 200 day moving average price of $118.12. The company has a market cap of $24.10 billion, a price-to-earnings ratio of 14.69, a PEG ratio of 1.41 and a beta of 1.31.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings results on Wednesday, October 22nd. The asset manager reported $2.29 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.03. The company 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% on a year-over-year basis. During the same quarter last year, the business earned $2.22 EPS. Sell-side analysts predict that Northern Trust Corporation will post 8.27 earnings per share for the current year.

Northern Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 1st. Investors of record on Friday, December 5th will be issued a $0.80 dividend. The ex-dividend date is Friday, December 5th. This represents a $3.20 dividend on an annualized basis and a yield of 2.5%. Northern Trust’s dividend payout ratio (DPR) is presently 37.30%.

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.