MML Investors Services LLC Reduces Stock Holdings in Northern Trust Co. (NASDAQ:NTRS)

MML Investors Services LLC cut its holdings in Northern Trust Co. (NASDAQ:NTRS) by 4.1% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 3,505 shares of the asset manager’s stock after selling 151 shares during the quarter. MML Investors Services LLC’s holdings in Northern Trust were worth $316,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Kovitz Investment Group Partners LLC lifted its holdings in shares of Northern Trust by 68.1% in the third quarter. Kovitz Investment Group Partners LLC now owns 13,765 shares of the asset manager’s stock valued at $1,239,000 after purchasing an additional 5,578 shares in the last quarter. Martingale Asset Management L P lifted its position in shares of Northern Trust by 8.4% in the third quarter. Martingale Asset Management L P now owns 59,118 shares of the asset manager’s stock valued at $5,322,000 after acquiring an additional 4,564 shares in the last quarter. Verition Fund Management LLC boosted its stake in shares of Northern Trust by 327.1% during the third quarter. Verition Fund Management LLC now owns 28,510 shares of the asset manager’s stock valued at $2,567,000 after acquiring an additional 21,835 shares during the last quarter. Magnetar Financial LLC purchased a new stake in Northern Trust during the 2nd quarter worth about $3,666,000. Finally, Ritholtz Wealth Management purchased a new position in Northern Trust in the 3rd quarter valued at about $488,000. 83.19% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Northern Trust

In other Northern Trust news, insider Teresa Parker sold 4,439 shares of the business’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $100.86, for a total value of $447,717.54. Following the transaction, the insider now owns 79,326 shares in the company, valued at $8,000,820.36. The trade was a 5.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Susan Cohen Levy sold 19,585 shares of the firm’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $102.26, for a total value of $2,002,762.10. Following the sale, the executive vice president now owns 17,132 shares of the company’s stock, valued at $1,751,918.32. This represents a 53.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 82,151 shares of company stock valued at $8,489,889 over the last quarter. Company insiders own 0.64% of the company’s stock.

Northern Trust Price Performance

Northern Trust stock opened at $103.61 on Wednesday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $20.54 billion, a P/E ratio of 12.89, a PEG ratio of 1.18 and a beta of 1.07. The firm has a fifty day moving average of $104.61 and a 200-day moving average of $93.16. Northern Trust Co. has a 52-week low of $76.67 and a 52-week high of $111.87.

Northern Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 6th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 2.90%. The ex-dividend date is Friday, December 6th. Northern Trust’s dividend payout ratio (DPR) is presently 37.31%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Evercore ISI lifted their price target on shares of Northern Trust from $86.00 to $103.00 and gave the stock an “in-line” rating in a report on Thursday, October 24th. Keefe, Bruyette & Woods lifted their target price on shares of Northern Trust from $100.00 to $113.00 and gave the stock a “market perform” rating in a research note on Tuesday, December 3rd. Morgan Stanley raised Northern Trust from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $103.00 to $127.00 in a research note on Monday, December 9th. Deutsche Bank Aktiengesellschaft upped their target price on Northern Trust from $100.00 to $108.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Finally, StockNews.com raised Northern Trust from a “hold” rating to a “buy” rating in a research note on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Northern Trust currently has an average rating of “Hold” and a consensus target price of $105.00.

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.