Horizon Investment Services LLC Invests $5.49 Million in Northern Trust Corporation $NTRS

Horizon Investment Services LLC bought a new position in shares of Northern Trust Corporation (NASDAQ:NTRS) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 31,558 shares of the asset manager’s stock, valued at approximately $5,486,000. Northern Trust comprises 1.5% of Horizon Investment Services LLC’s investment portfolio, making the stock its 24th biggest holding.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Reflection Asset Management acquired a new stake in Northern Trust during the fourth quarter worth approximately $25,000. Triumph Capital Management purchased a new stake in shares of Northern Trust during the 3rd quarter worth approximately $25,000. Basecamp Wealth Advisors LLC boosted its holdings in shares of Northern Trust by 99.0% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 203 shares of the asset manager’s stock valued at $28,000 after buying an additional 101 shares in the last quarter. Elyxium Wealth LLC acquired a new position in shares of Northern Trust in the 4th quarter valued at $34,000. Finally, International Assets Investment Management LLC purchased a new position in shares of Northern Trust in the 4th quarter valued at $35,000. 83.19% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Robert Edward Jr. Moritz purchased 255 shares of the stock in a transaction that occurred on Wednesday, July 29th. The shares were purchased at an average price of $179.57 per share, with a total value of $45,790.35. Following the completion of the acquisition, the director directly owned 8,400 shares in the company, valued at $1,508,388. This represents a 3.13% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.66% of the stock is currently owned by corporate insiders.

Northern Trust Stock Performance

Shares of Northern Trust stock opened at $191.41 on Monday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.65 and a current ratio of 0.65. The company has a market capitalization of $35.02 billion, a P/E ratio of 16.43, a PEG ratio of 1.08 and a beta of 1.25. Northern Trust Corporation has a 1 year low of $121.12 and a 1 year high of $195.78. The company’s fifty day moving average is $179.86 and its two-hundred day moving average is $162.07.

Northern Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Friday, September 4th will be paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.8%. This is a positive change from Northern Trust’s previous quarterly dividend of $0.80. The ex-dividend date is Friday, September 4th. Northern Trust’s payout ratio is currently 27.47%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Evercore set a $179.00 price target on shares of Northern Trust in a research note on Monday, July 6th. Citigroup upped their price objective on shares of Northern Trust from $162.00 to $172.00 and gave the company a “neutral” rating in a research note on Tuesday, June 30th. UBS Group set a $186.00 price objective on Northern Trust in a report on Friday, June 26th. JPMorgan Chase & Co. lifted their target price on Northern Trust from $179.50 to $185.50 and gave the stock a “neutral” rating in a research report on Tuesday, August 4th. Finally, The Goldman Sachs Group boosted their target price on Northern Trust from $151.00 to $169.00 and gave the company a “neutral” rating in a report on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Northern Trust presently has a consensus rating of “Hold” and a consensus target price 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.