Northern Trust Corporation (NASDAQ:NTRS) Shares Sold by Aviance Capital Partners LLC

Aviance Capital Partners LLC reduced its stake in Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 13.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,254 shares of the asset manager's stock after selling 1,915 shares during the quarter. Aviance Capital Partners LLC's holdings in Northern Trust were worth $1,209,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Resonant Capital Advisors LLC boosted its holdings in shares of Northern Trust by 5.5% during the 1st quarter. Resonant Capital Advisors LLC now owns 22,362 shares of the asset manager's stock valued at $2,221,000 after purchasing an additional 1,173 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Northern Trust by 2.2% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,703 shares of the asset manager's stock valued at $2,141,000 after buying an additional 467 shares in the last quarter. Mather Group LLC. raised its position in shares of Northern Trust by 20.9% during the 1st quarter. Mather Group LLC. now owns 3,426 shares of the asset manager's stock valued at $338,000 after buying an additional 592 shares in the last quarter. Amalgamated Bank lifted its stake in Northern Trust by 0.5% in the first quarter. Amalgamated Bank now owns 38,065 shares of the asset manager's stock worth $3,755,000 after purchasing an additional 172 shares during the last quarter. Finally, Sunbelt Securities Inc. lifted its stake in Northern Trust by 30.5% in the first quarter. Sunbelt Securities Inc. now owns 942 shares of the asset manager's stock worth $93,000 after purchasing an additional 220 shares during the last quarter. 83.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Royal Bank Of Canada set a $123.00 target price on shares of Northern Trust and gave the stock an "outperform" rating in a research report on Monday, June 30th. Truist Financial lifted their price objective on shares of Northern Trust from $116.00 to $126.00 and gave the company a "hold" rating in a report on Thursday. The Goldman Sachs Group raised their target price on shares of Northern Trust from $89.00 to $101.00 and gave the company a "sell" rating in a research note on Wednesday, July 2nd. Morgan Stanley boosted their price objective on shares of Northern Trust from $103.00 to $106.00 and gave the company an "underweight" rating in a report on Tuesday, July 1st. Finally, Wells Fargo & Company dropped their price objective on shares of Northern Trust from $118.00 to $111.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 23rd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Northern Trust presently has an average rating of "Hold" and a consensus target price of $114.67.

Insider Buying and Selling

In related news, insider Teresa Parker sold 6,467 shares of the business's stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $100.62, for a total value of $650,709.54. Following the completion of the sale, the insider directly owned 79,391 shares in the company, valued at approximately $7,988,322.42. The trade was a 7.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Clive Bellows sold 3,300 shares of the stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $99.95, for a total transaction of $329,835.00. Following the completion of the sale, the executive vice president directly owned 28,736 shares of the company's stock, valued at $2,872,163.20. The trade was a 10.30% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,772 shares of company stock valued at $981,069. 0.77% of the stock is owned by insiders.

Northern Trust Stock Performance

Northern Trust stock traded down $3.20 during midday trading on Monday, hitting $128.50. 2,475,956 shares of the company's stock were exchanged, compared to its average volume of 1,434,650. The stock has a market cap of $25.00 billion, a price-to-earnings ratio of 11.99, a price-to-earnings-growth ratio of 1.97 and a beta of 1.26. The firm's 50 day simple moving average is $109.22 and its 200 day simple moving average is $104.63. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.71 and a current ratio of 0.71. Northern Trust Corporation has a 12-month low of $80.81 and a 12-month high of $133.00.

Northern Trust (NASDAQ:NTRS - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The asset manager reported $1.90 EPS for the quarter, topping analysts' consensus estimates of $1.85 by $0.05. The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.95 billion. Northern Trust had a net margin of 13.93% and a return on equity of 13.73%. Equities research analysts predict that Northern Trust Corporation will post 8.27 EPS for the current year.

Northern Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, June 6th were issued a $0.75 dividend. The ex-dividend date was Friday, June 6th. This represents a $3.00 dividend on an annualized basis and a yield of 2.33%. Northern Trust's payout ratio is 27.99%.

Northern Trust Company 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.