Garland Capital Management Inc. Has $3.92 Million Stock Position in Northern Trust Co. (NASDAQ:NTRS)

Garland Capital Management Inc. reduced its position in Northern Trust Co. (NASDAQ:NTRS) by 3.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 38,240 shares of the asset manager’s stock after selling 1,165 shares during the quarter. Northern Trust makes up about 3.2% of Garland Capital Management Inc.’s investment portfolio, making the stock its 18th largest holding. Garland Capital Management Inc.’s holdings in Northern Trust were worth $3,920,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of NTRS. Y.D. More Investments Ltd increased its position in Northern Trust by 118.4% in the 4th quarter. Y.D. More Investments Ltd now owns 249 shares of the asset manager’s stock worth $26,000 after purchasing an additional 135 shares during the last quarter. Empirical Asset Management LLC acquired a new position in shares of Northern Trust during the 4th quarter valued at about $33,000. Brooklyn Investment Group increased its holdings in shares of Northern Trust by 51.2% during the 4th quarter. Brooklyn Investment Group now owns 378 shares of the asset manager’s stock valued at $39,000 after acquiring an additional 128 shares during the last quarter. Assetmark Inc. increased its holdings in shares of Northern Trust by 528.3% during the 4th quarter. Assetmark Inc. now owns 377 shares of the asset manager’s stock valued at $39,000 after acquiring an additional 317 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in Northern Trust during the 4th quarter valued at approximately $51,000. 83.19% of the stock is owned by institutional investors and hedge funds.

Northern Trust Trading Down 0.1 %

NTRS stock opened at $98.77 on Friday. The business has a fifty day moving average price of $107.42 and a 200 day moving average price of $102.37. Northern Trust Co. has a fifty-two week low of $79.32 and a fifty-two week high of $114.67. The stock has a market capitalization of $19.33 billion, a price-to-earnings ratio of 10.10, a P/E/G ratio of 1.72 and a beta of 1.07. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.68 and a quick ratio of 0.71.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings results on Thursday, January 23rd. The asset manager reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.96 by $0.30. Northern Trust had a return on equity of 13.74% and a net margin of 12.77%. Analysts expect that Northern Trust Co. will post 8.27 EPS for the current fiscal year.

Northern Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $0.75 dividend. The ex-dividend date is Friday, March 14th. This represents a $3.00 annualized dividend and a dividend yield of 3.04%. Northern Trust’s dividend payout ratio (DPR) is currently 30.67%.

Analysts Set New Price Targets

Several brokerages recently weighed in on NTRS. Royal Bank of Canada increased their target price on Northern Trust from $107.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, January 24th. Barclays increased their target price on Northern Trust from $115.00 to $118.00 and gave the company an “equal weight” rating in a research note on Monday, January 6th. Truist Financial raised their price objective on Northern Trust from $110.00 to $116.00 and gave the stock a “hold” rating in a research report on Friday, January 24th. The Goldman Sachs Group raised their price objective on Northern Trust from $92.00 to $102.00 and gave the stock a “sell” rating in a research report on Friday, January 24th. Finally, UBS Group raised their price objective on Northern Trust from $110.00 to $114.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $113.50.

Insider Activity

In other news, insider Jason J. Tyler sold 2,237 shares of the firm’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $112.67, for a total value of $252,042.79. Following the transaction, the insider now directly owns 58,449 shares in the company, valued at $6,585,448.83. This trade represents a 3.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Thomas A. South sold 3,804 shares of Northern Trust stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $113.00, for a total value of $429,852.00. Following the transaction, the executive vice president now owns 81,794 shares in the company, valued at approximately $9,242,722. This represents a 4.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,335 shares of company stock valued at $3,970,211. Company insiders own 0.64% of the company’s stock.

Northern Trust 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.