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

Garland Capital Management Inc. reduced its position in Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 10.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,290 shares of the asset manager's stock after selling 3,950 shares during the quarter. Northern Trust makes up about 3.2% of Garland Capital Management Inc.'s investment portfolio, making the stock its 18th biggest holding. Garland Capital Management Inc.'s holdings in Northern Trust were worth $3,382,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Colonial Trust Co SC increased its holdings in Northern Trust by 6,400.0% in the fourth quarter. Colonial Trust Co SC now owns 260 shares of the asset manager's stock valued at $27,000 after buying an additional 256 shares during the last quarter. Assetmark Inc. increased its holdings in Northern Trust by 528.3% in the fourth quarter. Assetmark Inc. now owns 377 shares of the asset manager's stock valued at $39,000 after buying an additional 317 shares during the last quarter. True Wealth Design LLC grew its holdings in shares of Northern Trust by 84.0% during the fourth quarter. True Wealth Design LLC now owns 425 shares of the asset manager's stock valued at $44,000 after purchasing an additional 194 shares during the last quarter. Coppell Advisory Solutions LLC bought a new position in shares of Northern Trust during the fourth quarter valued at approximately $44,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Northern Trust by 83.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 494 shares of the asset manager's stock valued at $51,000 after purchasing an additional 224 shares during the last quarter. 83.19% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Northern Trust news, insider Teresa Parker sold 6,467 shares of the company's stock in a transaction that occurred on Friday, May 9th. The stock was sold at an average price of $100.62, for a total value of $650,709.54. Following the completion of the sale, the insider now directly owns 79,391 shares in the company, valued at $7,988,322.42. This represents a 7.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Clive Bellows sold 3,300 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $99.95, for a total value of $329,835.00. Following the completion of the sale, the executive vice president now owns 28,736 shares of the company's stock, valued at $2,872,163.20. This trade represents a 10.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,772 shares of company stock worth $981,069 over the last ninety days. Company insiders own 0.77% of the company's stock.

Analyst Upgrades and Downgrades

NTRS has been the subject of several recent research reports. Wall Street Zen lowered Northern Trust from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Wells Fargo & Company lowered their target price on Northern Trust from $118.00 to $111.00 and set an "equal weight" rating for the company in a report on Wednesday, April 23rd. Bank of America lowered their target price on Northern Trust from $123.00 to $121.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Evercore ISI lowered their target price on Northern Trust from $104.00 to $100.00 and set an "in-line" rating for the company in a report on Wednesday, April 23rd. Finally, Morgan Stanley reaffirmed an "underweight" rating and set a $103.00 target price (up from $101.00) on shares of Northern Trust in a report on Tuesday, June 3rd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $108.42.

Northern Trust Trading Up 0.8%

Shares of NTRS stock opened at $111.85 on Friday. 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 1 year low of $80.81 and a 1 year high of $114.67. The stock has a fifty day moving average of $101.89 and a two-hundred day moving average of $103.25. The firm has a market capitalization of $21.76 billion, a PE ratio of 10.43, a price-to-earnings-growth ratio of 1.68 and a beta of 1.22.

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

Northern Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 6th will be given a $0.75 dividend. The ex-dividend date is Friday, June 6th. This represents a $3.00 dividend on an annualized basis and a yield of 2.68%. Northern Trust's dividend payout ratio (DPR) is 27.99%.

About Northern Trust

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.

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