Northern Trust Co. (NASDAQ:NTRS) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC trimmed its holdings in shares of Northern Trust Co. (NASDAQ:NTRS) by 3.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 24,831 shares of the asset manager’s stock after selling 970 shares during the period. Mutual of America Capital Management LLC’s holdings in Northern Trust were worth $2,236,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Massachusetts Financial Services Co. MA boosted its position in Northern Trust by 13.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,413,620 shares of the asset manager’s stock worth $622,596,000 after acquiring an additional 850,556 shares during the period. Panagora Asset Management Inc. grew its holdings in Northern Trust by 4,660.5% in the 2nd quarter. Panagora Asset Management Inc. now owns 399,932 shares of the asset manager’s stock valued at $33,586,000 after buying an additional 391,531 shares during the last quarter. Primecap Management Co. CA increased its position in Northern Trust by 3.9% during the second quarter. Primecap Management Co. CA now owns 7,046,757 shares of the asset manager’s stock worth $591,787,000 after acquiring an additional 261,285 shares during the period. Dimensional Fund Advisors LP increased its stake in Northern Trust by 12.3% during the second quarter. Dimensional Fund Advisors LP now owns 2,003,675 shares of the asset manager’s stock valued at $168,253,000 after acquiring an additional 219,387 shares during the period. Finally, AQR Capital Management LLC increased its position in shares of Northern Trust by 55.1% during the second quarter. AQR Capital Management LLC now owns 597,146 shares of the asset manager’s stock valued at $49,575,000 after purchasing an additional 212,089 shares during the period. Institutional investors and hedge funds own 83.19% of the company’s stock.

Wall Street Analysts Forecast Growth

NTRS has been the subject of a number of analyst reports. Bank of America lifted their price objective on Northern Trust from $103.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Morgan Stanley boosted their price target on shares of Northern Trust from $97.00 to $103.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. Evercore ISI lifted their price objective on shares of Northern Trust from $86.00 to $103.00 and gave the stock an “in-line” rating in a research note on Thursday, October 24th. Royal Bank of Canada boosted their price objective on Northern Trust from $100.00 to $107.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, Wells Fargo & Company lifted their target price on Northern Trust from $108.00 to $110.00 and gave the company an “equal weight” rating in a research report on Friday, November 15th. Three analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $100.67.

Northern Trust Price Performance

NASDAQ NTRS opened at $109.46 on Monday. The company has a market capitalization of $21.70 billion, a PE ratio of 13.61, a price-to-earnings-growth ratio of 1.23 and a beta of 1.06. Northern Trust Co. has a fifty-two week low of $75.55 and a fifty-two week high of $109.92. The business’s fifty day moving average is $97.76 and its 200 day moving average is $89.79. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71.

Northern Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 6th will be issued a dividend of $0.75 per share. The ex-dividend date is Friday, December 6th. This represents a $3.00 annualized dividend and a dividend yield of 2.74%. Northern Trust’s dividend payout ratio (DPR) is 37.31%.

Insider Transactions at Northern Trust

In other Northern Trust news, Director Charles A. Tribbett sold 1,855 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $88.12, for a total value of $163,462.60. Following the transaction, the director now owns 1,000 shares of the company’s stock, valued at $88,120. This represents a 64.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Thomas A. South sold 5,000 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $105.80, for a total transaction of $529,000.00. Following the completion of the transaction, the executive vice president now owns 49,756 shares of the company’s stock, valued at approximately $5,264,184.80. This trade represents a 9.13 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 80,906 shares of company stock worth $8,176,652. 0.64% of the stock is currently owned by insiders.

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.