Mutual of America Capital Management LLC Has $2.39 Million Position in Northern Trust Co. (NASDAQ:NTRS)

Mutual of America Capital Management LLC trimmed its stake in shares of Northern Trust Co. (NASDAQ:NTRS) by 2.9% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 26,894 shares of the asset manager’s stock after selling 809 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Northern Trust were worth $2,391,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Primecap Management Co. CA lifted its position in Northern Trust by 6.1% during the fourth quarter. Primecap Management Co. CA now owns 6,891,902 shares of the asset manager’s stock worth $581,539,000 after purchasing an additional 394,855 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of Northern Trust by 31.2% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 6,533,855 shares of the asset manager’s stock valued at $551,327,000 after buying an additional 1,553,783 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Northern Trust by 140.2% during the 4th quarter. Wellington Management Group LLP now owns 5,802,792 shares of the asset manager’s stock worth $489,640,000 after acquiring an additional 3,387,002 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Northern Trust by 0.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,771,463 shares of the asset manager’s stock worth $149,485,000 after acquiring an additional 8,724 shares in the last quarter. Finally, Confluence Investment Management LLC bought a new position in Northern Trust in the first quarter valued at approximately $105,665,000. Institutional investors own 83.19% of the company’s stock.

Wall Street Analyst Weigh In

NTRS has been the subject of several recent analyst reports. The Goldman Sachs Group cut their target price on Northern Trust from $94.00 to $84.00 and set a “neutral” rating for the company in a research note on Tuesday, July 2nd. Keefe, Bruyette & Woods reduced their price objective on Northern Trust from $92.00 to $85.00 and set a “market perform” rating on the stock in a research note on Thursday, June 27th. Bank of America boosted their target price on Northern Trust from $93.00 to $101.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Evercore ISI raised their price target on shares of Northern Trust from $86.00 to $87.00 and gave the company an “in-line” rating in a research note on Thursday, April 4th. Finally, Jefferies Financial Group upped their price objective on shares of Northern Trust from $101.00 to $103.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $86.42.

Insider Activity at Northern Trust

In other Northern Trust news, insider Steven L. Fradkin sold 4,097 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $82.56, for a total transaction of $338,248.32. Following the completion of the transaction, the insider now owns 46,078 shares in the company, valued at approximately $3,804,199.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Northern Trust news, insider Peter Cherecwich sold 12,000 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $87.09, for a total transaction of $1,045,080.00. Following the completion of the sale, the insider now directly owns 31,471 shares in the company, valued at approximately $2,740,809.39. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Steven L. Fradkin sold 4,097 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $82.56, for a total value of $338,248.32. Following the completion of the transaction, the insider now directly owns 46,078 shares in the company, valued at $3,804,199.68. The disclosure for this sale can be found here. 0.64% of the stock is currently owned by company insiders.

Northern Trust Trading Up 2.8 %

NTRS opened at $89.28 on Friday. The company’s 50 day moving average price is $83.86 and its two-hundred day moving average price is $83.21. The firm has a market capitalization of $18.27 billion, a price-to-earnings ratio of 19.71, a PEG ratio of 1.22 and a beta of 1.10. Northern Trust Co. has a fifty-two week low of $62.44 and a fifty-two week high of $89.73. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.71 and a quick ratio of 0.71.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings data on Tuesday, April 16th. The asset manager reported $1.70 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.23. The business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.79 billion. Northern Trust had a return on equity of 12.57% and a net margin of 7.59%. As a group, research analysts predict that Northern Trust Co. will post 6.91 earnings per share for the current year.

Northern Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 7th were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date of this dividend was Friday, June 7th. Northern Trust’s dividend payout ratio is currently 66.23%.

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.