Horizon Investment Services LLC Has $3.88 Million Stock Position in Northern Trust Corporation $NTRS

Horizon Investment Services LLC reduced its stake in shares of Northern Trust Corporation (NASDAQ:NTRS) by 12.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,621 shares of the asset manager’s stock after selling 4,480 shares during the period. Northern Trust accounts for approximately 1.7% of Horizon Investment Services LLC’s portfolio, making the stock its 17th biggest holding. Horizon Investment Services LLC’s holdings in Northern Trust were worth $3,883,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Cullen Frost Bankers Inc. grew its stake in Northern Trust by 84.8% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 1,567 shares of the asset manager’s stock valued at $199,000 after buying an additional 719 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Northern Trust by 4.9% during the first quarter. Massachusetts Financial Services Co. MA now owns 7,850,088 shares of the asset manager’s stock valued at $774,411,000 after acquiring an additional 363,472 shares during the period. Allianz Asset Management GmbH grew its position in shares of Northern Trust by 529.4% in the first quarter. Allianz Asset Management GmbH now owns 461,383 shares of the asset manager’s stock valued at $45,515,000 after purchasing an additional 388,081 shares during the last quarter. Kathmere Capital Management LLC increased its stake in shares of Northern Trust by 96.7% in the first quarter. Kathmere Capital Management LLC now owns 5,239 shares of the asset manager’s stock worth $517,000 after purchasing an additional 2,575 shares during the period. Finally, Edgestream Partners L.P. acquired a new position in shares of Northern Trust during the 1st quarter worth about $6,567,000. Institutional investors and hedge funds own 83.19% of the company’s stock.

Insider Buying and Selling

In related news, Director Robert Edward Jr. Moritz purchased 3,891 shares of Northern Trust stock in a transaction that occurred on Tuesday, November 4th. The shares were acquired at an average price of $128.57 per share, for a total transaction of $500,265.87. Following the transaction, the director directly owned 6,686 shares in the company, valued at approximately $859,619.02. This represents a 139.21% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Susan Cohen Levy sold 27,591 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $128.13, for a total transaction of $3,535,234.83. Following the completion of the sale, the executive vice president owned 48,257 shares of the company’s stock, valued at $6,183,169.41. The trade was a 36.38% decrease in their position. The SEC filing for this sale provides additional information. Insiders bought 4,417 shares of company stock valued at $566,807 in the last quarter. 0.77% of the stock is currently owned by corporate insiders.

Northern Trust Trading Up 0.1%

Shares of NTRS opened at $128.30 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.72 and a debt-to-equity ratio of 0.58. The stock has a market cap of $24.26 billion, a PE ratio of 14.95, a PEG ratio of 1.37 and a beta of 1.32. Northern Trust Corporation has a 1 year low of $81.62 and a 1 year high of $135.48. The stock has a 50 day simple moving average of $129.25 and a 200-day simple moving average of $120.49.

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

Northern Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 1st. Shareholders of record on Friday, December 5th will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Friday, December 5th. Northern Trust’s dividend payout ratio is currently 37.30%.

Analyst Ratings Changes

Several research analysts have commented on the company. Cowen reaffirmed a “buy” rating on shares of Northern Trust in a research report on Thursday, October 23rd. BMO Capital Markets started coverage on shares of Northern Trust in a research report on Friday, October 3rd. They set a “market perform” rating and a $142.00 target price on the stock. Keefe, Bruyette & Woods increased their price target on shares of Northern Trust from $123.00 to $125.00 and gave the company an “underperform” rating in a report on Thursday, October 23rd. Truist Financial decreased their price target on shares of Northern Trust from $142.00 to $139.00 and set a “hold” rating on the stock in a research report on Thursday, October 23rd. Finally, TD Cowen upped their price objective on shares of Northern Trust from $152.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday, October 23rd. Five equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $130.71.

Northern Trust 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.