Oppenheimer Asset Management Inc. Buys Shares of 147,956 Northern Trust Corporation $NTRS

Oppenheimer Asset Management Inc. bought a new position in Northern Trust Corporation (NASDAQ:NTRS) in the second quarter, according to its most recent disclosure with the SEC. The firm bought 147,956 shares of the asset manager’s stock, valued at approximately $25,721,000.

Several other institutional investors have also modified their holdings of NTRS. Reflection Asset Management acquired a new position in shares of Northern Trust during the 4th quarter valued at about $25,000. Triumph Capital Management purchased a new stake in shares of Northern Trust in the third quarter valued at about $25,000. Basecamp Wealth Advisors LLC increased its position in Northern Trust by 99.0% during the first quarter. Basecamp Wealth Advisors LLC now owns 203 shares of the asset manager’s stock worth $28,000 after purchasing an additional 101 shares during the last quarter. Elyxium Wealth LLC acquired a new stake in Northern Trust during the fourth quarter worth about $34,000. Finally, International Assets Investment Management LLC purchased a new position in Northern Trust during the fourth quarter worth about $35,000. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Insider Activity

In related news, Director Robert Edward Jr. Moritz acquired 255 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The shares were purchased at an average cost of $179.57 per share, for a total transaction of $45,790.35. Following the acquisition, the director owned 8,400 shares in the company, valued at $1,508,388. The trade was a 3.13% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.66% of the company’s stock.

Northern Trust Stock Up 0.5%

Shares of NTRS opened at $191.41 on Friday. The company’s 50-day moving average price is $179.86 and its 200 day moving average price is $161.99. Northern Trust Corporation has a 12-month low of $121.12 and a 12-month high of $195.78. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.43. The firm has a market cap of $35.02 billion, a P/E ratio of 16.43, a price-to-earnings-growth ratio of 1.07 and a beta of 1.25.

Northern Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 4th will be given a dividend of $0.88 per share. This is a boost 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 1.8%. The ex-dividend date is Friday, September 4th. Northern Trust’s dividend payout ratio (DPR) is 27.47%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on NTRS shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Northern Trust in a report on Friday, July 31st. Evercore set a $179.00 price target on shares of Northern Trust in a report on Monday, July 6th. UBS Group set a $186.00 price target on shares of Northern Trust in a research report on Friday, June 26th. Zacks Research upgraded Northern Trust from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. Finally, Bank of America increased their price objective on Northern Trust from $190.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $180.68.

Northern Trust Profile

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.