Bartlett & CO. Wealth Management LLC Trims Position in Northern Trust Corporation (NASDAQ:NTRS)

Bartlett & CO. Wealth Management LLC lessened its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS) by 0.7% during the first quarter, HoldingsChannel reports. The firm owned 15,992 shares of the asset manager’s stock after selling 113 shares during the quarter. Bartlett & CO. Wealth Management LLC’s holdings in Northern Trust were worth $1,590,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Alta Wealth Advisors LLC purchased a new position in shares of Northern Trust during the 1st quarter worth $413,000. Robeco Institutional Asset Management B.V. lifted its stake in shares of Northern Trust by 20.3% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 816,286 shares of the asset manager’s stock worth $80,527,000 after purchasing an additional 137,825 shares during the period. LaFleur & Godfrey LLC purchased a new position in shares of Northern Trust during the 1st quarter worth $359,000. Asset Management One Co. Ltd. lifted its stake in shares of Northern Trust by 8.4% during the 1st quarter. Asset Management One Co. Ltd. now owns 84,974 shares of the asset manager’s stock worth $8,383,000 after purchasing an additional 6,570 shares during the period. Finally, Oppenheimer & Co. Inc. lifted its stake in shares of Northern Trust by 9.4% during the 1st quarter. Oppenheimer & Co. Inc. now owns 4,443 shares of the asset manager’s stock worth $438,000 after purchasing an additional 380 shares during the period. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Northern Trust Stock Up 1.2%

Shares of NASDAQ NTRS opened at $124.41 on Friday. Northern Trust Corporation has a 12-month low of $80.81 and a 12-month high of $124.52. The company has a market cap of $24.20 billion, a P/E ratio of 11.61, a P/E/G ratio of 1.86 and a beta of 1.22. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.57. The stock has a fifty day moving average price of $105.23 and a 200 day moving average price of $103.71.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings results on Tuesday, April 22nd. The asset manager reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.05. Northern Trust had a return on equity of 13.73% and a net margin of 13.93%. The firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.95 billion. Research analysts anticipate that Northern Trust Corporation will post 8.27 EPS for the current fiscal year.

Northern Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 6th will be issued a $0.75 dividend. The ex-dividend date is Friday, June 6th. This represents a $3.00 annualized dividend and a yield of 2.41%. Northern Trust’s dividend payout ratio is currently 27.99%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on NTRS shares. Morgan Stanley reissued an “underweight” rating and set a $103.00 price target (up previously from $101.00) on shares of Northern Trust in a research note on Tuesday, June 3rd. Bank of America dropped their price objective 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 dropped their price objective 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. Truist Financial dropped their price objective on Northern Trust from $98.00 to $92.00 and set a “hold” rating for the company in a report on Wednesday, April 23rd. Finally, Royal Bank Of Canada dropped their price objective on Northern Trust from $115.00 to $105.00 and set an “outperform” rating for the company in a report on Wednesday, April 23rd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $108.42.

Insider Activity at Northern Trust

In related news, 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 value of $329,835.00. Following the completion of the sale, the executive vice president now directly owns 28,736 shares in the company, valued at approximately $2,872,163.20. This represents a 10.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Teresa Parker sold 6,467 shares of the firm’s stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $100.62, for a total value of $650,709.54. Following the sale, the insider now owns 79,391 shares of the company’s stock, valued at $7,988,322.42. This represents a 7.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 9,772 shares of company stock worth $981,069. Corporate insiders own 0.77% 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.