Harvest Investment Advisors LLC Invests $2.32 Million in Northern Trust Corporation $NTRS

Harvest Investment Advisors LLC acquired a new position in shares of Northern Trust Corporation (NASDAQ:NTRSFree Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 16,963 shares of the asset manager’s stock, valued at approximately $2,317,000. Northern Trust comprises 1.3% of Harvest Investment Advisors LLC’s investment portfolio, making the stock its 18th largest holding.

Several other institutional investors also recently modified their holdings of NTRS. Triumph Capital Management bought a new position in Northern Trust in the 3rd quarter valued at about $25,000. Board of the Pension Protection Fund bought a new position in Northern Trust in the 4th quarter valued at about $27,000. Elyxium Wealth LLC bought a new position in Northern Trust in the 4th quarter valued at about $34,000. International Assets Investment Management LLC bought a new position in Northern Trust in the 4th quarter valued at about $35,000. Finally, Transamerica Financial Advisors LLC raised its holdings in Northern Trust by 54.1% in the 4th quarter. Transamerica Financial Advisors LLC now owns 265 shares of the asset manager’s stock valued at $36,000 after acquiring an additional 93 shares during the period. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Northern Trust Stock Performance

Shares of Northern Trust stock opened at $174.84 on Wednesday. The company has a 50 day moving average of $164.00 and a 200-day moving average of $149.62. Northern Trust Corporation has a 1-year low of $109.00 and a 1-year high of $176.11. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.51. The company has a market cap of $32.35 billion, a PE ratio of 18.31, a price-to-earnings-growth ratio of 1.24 and a beta of 1.25.

Northern Trust (NASDAQ:NTRSGet Free Report) last posted its earnings results on Tuesday, April 21st. The asset manager reported $2.71 earnings per share for the quarter, topping analysts’ consensus estimates of $2.37 by $0.34. Northern Trust had a net margin of 12.84% and a return on equity of 15.94%. The firm had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the previous year, the firm posted $1.90 earnings per share. The company’s revenue was up 13.8% on a year-over-year basis. As a group, equities research analysts forecast that Northern Trust Corporation will post 10.68 earnings per share for the current fiscal year.

Northern Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 5th will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $3.20 annualized dividend and a dividend yield of 1.8%. Northern Trust’s dividend payout ratio (DPR) is presently 33.51%.

Insider Activity

In other Northern Trust news, CFO David W. Fox, Jr. sold 19,987 shares of the company’s stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $166.16, for a total transaction of $3,321,039.92. Following the sale, the chief financial officer owned 18,588 shares of the company’s stock, valued at approximately $3,088,582.08. This represents a 51.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert Edward Jr. Moritz purchased 225 shares of the business’s stock in a transaction on Friday, May 1st. The shares were purchased at an average cost of $166.41 per share, for a total transaction of $37,442.25. Following the transaction, the director directly owned 8,145 shares of the company’s stock, valued at approximately $1,355,409.45. The trade was a 2.84% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders sold 22,800 shares of company stock valued at $3,785,251. Insiders own 0.66% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on NTRS shares. Zacks Research raised shares of Northern Trust from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. Weiss Ratings raised shares of Northern Trust from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 4th. Royal Bank Of Canada boosted their price objective on shares of Northern Trust from $159.00 to $178.00 and gave the company an “outperform” rating in a report on Wednesday, April 22nd. The Goldman Sachs Group raised their target price on shares of Northern Trust from $151.00 to $169.00 and gave the stock a “neutral” rating in a report on Wednesday, April 22nd. Finally, Citigroup assumed coverage on shares of Northern Trust in a research report on Monday, February 23rd. They issued a “neutral” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $164.08.

Read Our Latest Report on NTRS

Northern Trust Profile

(Free Report)

Northern Trust Corporation (NASDAQ: NTRS) is a global financial services firm headquartered in Chicago that provides asset servicing, asset management and wealth management solutions to institutions, corporations and high-net-worth individuals. The company’s core businesses include custody and fund administration, investment operations outsourcing, trust and fiduciary services, private banking, and retirement and defined contribution plan services.

Northern Trust’s product and service offerings span custody and fund accounting, portfolio and performance analytics, securities lending, cash management and foreign exchange, as well as discretionary and non-discretionary investment management.

See Also

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Institutional Ownership by Quarter for Northern Trust (NASDAQ:NTRS)

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