Northern Trust Co. (NASDAQ:NTRS) Shares Sold by Garland Capital Management Inc.

Garland Capital Management Inc. decreased its holdings in shares of Northern Trust Co. (NASDAQ:NTRSFree Report) by 5.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,175 shares of the asset manager’s stock after selling 2,802 shares during the quarter. Northern Trust comprises approximately 2.7% of Garland Capital Management Inc.’s holdings, making the stock its 21st biggest holding. Garland Capital Management Inc.’s holdings in Northern Trust were worth $3,896,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank purchased a new stake in Northern Trust during the 4th quarter worth $134,901,000. Morgan Stanley increased its position in shares of Northern Trust by 52.1% during the fourth quarter. Morgan Stanley now owns 2,014,774 shares of the asset manager’s stock worth $178,287,000 after acquiring an additional 689,920 shares during the last quarter. Eaton Vance Management increased its stake in shares of Northern Trust by 1,080.5% in the first quarter. Eaton Vance Management now owns 600,908 shares of the asset manager’s stock worth $69,974,000 after buying an additional 550,006 shares during the last quarter. Vanguard Group Inc. raised its holdings in Northern Trust by 2.1% in the first quarter. Vanguard Group Inc. now owns 22,711,584 shares of the asset manager’s stock valued at $2,644,763,000 after acquiring an additional 457,748 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in Northern Trust by 17.7% during the 3rd quarter. Wellington Management Group LLP now owns 2,415,790 shares of the asset manager’s stock valued at $167,849,000 after acquiring an additional 363,747 shares during the last quarter. Institutional investors and hedge funds own 83.19% of the company’s stock.

Insider Activity

In other Northern Trust news, insider Steven L. Fradkin sold 30,392 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $80.11, for a total value of $2,434,703.12. Following the completion of the sale, the insider now directly owns 55,707 shares of the company’s stock, valued at approximately $4,462,687.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.64% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on NTRS shares. Wolfe Research downgraded shares of Northern Trust from a “peer perform” rating to an “underperform” rating and set a $85.00 target price for the company. in a research report on Wednesday, January 3rd. Morgan Stanley reaffirmed an “underweight” rating and set a $86.00 price objective (up previously from $82.00) on shares of Northern Trust in a research report on Tuesday, January 30th. TheStreet raised Northern Trust from a “c+” rating to a “b-” rating in a research report on Friday, January 12th. Jefferies Financial Group raised shares of Northern Trust from a “hold” rating to a “buy” rating and boosted their price target for the company from $68.00 to $99.00 in a report on Tuesday, January 9th. Finally, Evercore ISI upped their price target on shares of Northern Trust from $86.00 to $87.00 and gave the stock an “in-line” rating in a research report on Thursday, April 4th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $83.09.

Check Out Our Latest Analysis on Northern Trust

Northern Trust Price Performance

Northern Trust stock traded down $1.10 during trading hours on Friday, hitting $83.83. 1,112,936 shares of the company traded hands, compared to its average volume of 1,491,035. The firm’s 50-day simple moving average is $82.93 and its two-hundred day simple moving average is $78.39. The firm has a market cap of $17.10 billion, a P/E ratio of 16.50, a P/E/G ratio of 1.83 and a beta of 1.13. Northern Trust Co. has a 1-year low of $62.44 and a 1-year high of $90.30. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.62.

Northern Trust (NASDAQ:NTRSGet Free Report) last posted its quarterly earnings data on Thursday, January 18th. The asset manager reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.81). The company had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.71 billion. Northern Trust had a net margin of 9.14% and a return on equity of 12.44%. Northern Trust’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.65 EPS. As a group, analysts forecast that Northern Trust Co. will post 6.54 earnings per share for the current fiscal year.

Northern Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 8th were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date was Thursday, March 7th. Northern Trust’s dividend payout ratio is presently 59.06%.

Northern Trust Profile

(Free Report)

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.

Further Reading

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

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