Northern Trust Corporation $NTRS Shares Purchased by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. increased its stake in shares of Northern Trust Corporation (NASDAQ:NTRS) by 34.0% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 152,150 shares of the asset manager’s stock after purchasing an additional 38,647 shares during the period. Oppenheimer Asset Management Inc. owned approximately 0.08% of Northern Trust worth $19,291,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Welch Group LLC boosted its position in shares of Northern Trust by 2.8% during the 2nd quarter. Welch Group LLC now owns 3,153 shares of the asset manager’s stock worth $400,000 after purchasing an additional 87 shares during the period. MassMutual Private Wealth & Trust FSB raised its stake in Northern Trust by 9.0% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,062 shares of the asset manager’s stock valued at $135,000 after buying an additional 88 shares in the last quarter. Harbour Investments Inc. raised its stake in Northern Trust by 10.0% in the second quarter. Harbour Investments Inc. now owns 1,032 shares of the asset manager’s stock valued at $131,000 after buying an additional 94 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Northern Trust by 0.4% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,798 shares of the asset manager’s stock valued at $2,764,000 after buying an additional 95 shares in the last quarter. Finally, OLD National Bancorp IN increased its stake in Northern Trust by 1.3% in the second quarter. OLD National Bancorp IN now owns 7,140 shares of the asset manager’s stock valued at $905,000 after purchasing an additional 95 shares during the last quarter. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Northern Trust Trading Up 1.0%

Shares of NTRS stock opened at $126.03 on Friday. The business’s 50 day moving average is $129.59 and its two-hundred day moving average is $118.12. Northern Trust Corporation has a twelve month low of $81.62 and a twelve month high of $135.48. The company has a market capitalization of $24.10 billion, a P/E ratio of 14.69, a price-to-earnings-growth ratio of 1.41 and a beta of 1.31. The company has a current ratio of 0.70, a quick ratio of 0.72 and a debt-to-equity ratio of 0.58.

Northern Trust (NASDAQ:NTRS) last released its earnings results on Wednesday, October 22nd. The asset manager reported $2.29 EPS for the quarter, topping the consensus estimate of $2.26 by $0.03. Northern Trust had a net margin of 11.99% and a return on equity of 14.37%. The company had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.02 billion. During the same quarter last year, the business earned $2.22 EPS. The business’s revenue was up 2.8% on a year-over-year basis. Equities analysts forecast that Northern Trust Corporation will post 8.27 EPS for the current year.

Northern Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 1st. Investors of record on Friday, December 5th will be issued 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%.

Insider Transactions at Northern Trust

In other Northern Trust news, Director Robert Edward Jr. Moritz bought 256 shares of the business’s stock in a transaction dated Wednesday, August 13th. The stock was acquired at an average cost of $126.34 per share, with a total value of $32,343.04. Following the purchase, the director owned 2,525 shares in the company, valued at approximately $319,008.50. This represents a 11.28% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.77% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on NTRS. Barclays increased their price target on shares of Northern Trust from $128.00 to $136.00 and gave the company an “equal weight” rating in a research note on Thursday, July 24th. Evercore ISI upped their price objective on shares of Northern Trust from $125.00 to $135.00 and gave the company an “in-line” rating in a research note on Tuesday, September 30th. Wolfe Research upgraded shares of Northern Trust from an “underperform” rating to a “peer perform” rating in a research note on Thursday, July 24th. Zacks Research downgraded shares of Northern Trust from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 9th. Finally, Wells Fargo & Company upped their price objective on shares of Northern Trust from $127.00 to $131.00 and gave the company an “equal weight” rating in a research note on Thursday. Five research analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target 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.