Oakmont Investment Advisors Inc. Invests $509,000 in Northern Trust Corporation $NTRS

Oakmont Investment Advisors Inc. acquired a new stake in shares of Northern Trust Corporation (NASDAQ:NTRS) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,929 shares of the asset manager’s stock, valued at approximately $509,000.

Other institutional investors have also made changes to their positions in the company. V Square Quantitative Management LLC lifted its holdings in Northern Trust by 1.3% in the 1st quarter. V Square Quantitative Management LLC now owns 4,793 shares of the asset manager’s stock worth $669,000 after purchasing an additional 61 shares during the last quarter. Greenleaf Trust raised its position in shares of Northern Trust by 0.6% in the second quarter. Greenleaf Trust now owns 12,575 shares of the asset manager’s stock valued at $2,186,000 after purchasing an additional 71 shares during the period. CWS Financial Advisors LLC raised its position in shares of Northern Trust by 2.0% in the first quarter. CWS Financial Advisors LLC now owns 3,997 shares of the asset manager’s stock valued at $558,000 after purchasing an additional 77 shares during the period. SJS Investment Consulting Inc. lifted its stake in shares of Northern Trust by 16.5% in the first quarter. SJS Investment Consulting Inc. now owns 559 shares of the asset manager’s stock worth $78,000 after buying an additional 79 shares during the last quarter. Finally, Compound Planning Inc. boosted its holdings in shares of Northern Trust by 4.7% during the 1st quarter. Compound Planning Inc. now owns 1,770 shares of the asset manager’s stock worth $247,000 after buying an additional 79 shares during the period. 83.19% of the stock is owned by institutional investors.

Northern Trust Price Performance

NASDAQ:NTRS opened at $186.63 on Friday. The company has a fifty day moving average price of $183.88 and a 200 day moving average price of $165.84. Northern Trust Corporation has a one year low of $121.12 and a one year high of $195.78. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.65 and a quick ratio of 0.65. The stock has a market cap of $34.15 billion, a P/E ratio of 16.02, a PEG ratio of 1.05 and a beta of 1.24.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings data on Wednesday, July 22nd. The asset manager reported $4.23 EPS for the quarter, beating analysts’ consensus estimates of $2.71 by $1.52. Northern Trust had a net margin of 14.76% and a return on equity of 16.91%. The business had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.69 billion. During the same quarter in the prior year, the business earned $2.13 earnings per share. The firm’s revenue for the quarter was up 35.1% on a year-over-year basis. Analysts anticipate that Northern Trust Corporation will post 11.59 earnings per share for the current year.

Northern Trust Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 4th will be paid a $0.88 dividend. The ex-dividend date is Friday, September 4th. This is a positive change from Northern Trust’s previous quarterly dividend of $0.80. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.9%. Northern Trust’s dividend payout ratio is currently 27.47%.

Insider Buying and Selling at Northern Trust

In other Northern Trust news, Director Robert Moritz, Jr. bought 255 shares of the stock in a transaction that occurred on Wednesday, July 29th. The shares were acquired at an average price of $179.57 per share, with a total value of $45,790.35. Following the completion of the purchase, the director directly owned 8,400 shares in the company, valued at $1,508,388. The trade was a 3.13% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Thomas South sold 1,800 shares of Northern Trust stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $184.90, for a total value of $332,820.00. Following the sale, the executive vice president directly owned 92,917 shares in the company, valued at $17,180,353.30. The trade was a 1.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.66% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on NTRS shares. Morgan Stanley raised their target price on shares of Northern Trust from $170.00 to $173.00 and gave the company an “underweight” rating in a research note on Thursday, July 23rd. Evercore set a $179.00 price target on shares of Northern Trust in a report on Monday, July 6th. Citigroup raised their price target on Northern Trust from $162.00 to $172.00 and gave the company a “neutral” rating in a research report on Tuesday, June 30th. Bank of America lifted their price objective on Northern Trust from $190.00 to $200.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. Finally, Keefe, Bruyette & Woods boosted their price objective on Northern Trust from $157.00 to $175.00 and gave the stock an “underperform” rating in a research report on Thursday, July 9th. Four research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $180.68.

About Northern Trust

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.