Mutual of America Capital Management LLC Sells 954 Shares of Northern Trust Corporation (NASDAQ:NTRS)

Mutual of America Capital Management LLC cut its holdings in Northern Trust Corporation (NASDAQ:NTRS) by 4.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 22,792 shares of the asset manager’s stock after selling 954 shares during the period. Mutual of America Capital Management LLC’s holdings in Northern Trust were worth $2,248,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of NTRS. Massachusetts Financial Services Co. MA boosted its position in shares of Northern Trust by 1.2% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 7,486,616 shares of the asset manager’s stock valued at $767,378,000 after acquiring an additional 92,162 shares during the period. Geode Capital Management LLC grew its stake in Northern Trust by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 4,904,871 shares of the asset manager’s stock worth $501,444,000 after buying an additional 30,908 shares in the last quarter. Invesco Ltd. grew its stake in Northern Trust by 7.5% in the 4th quarter. Invesco Ltd. now owns 2,885,312 shares of the asset manager’s stock worth $295,744,000 after buying an additional 202,327 shares in the last quarter. Wellington Management Group LLP grew its stake in Northern Trust by 1.6% in the 4th quarter. Wellington Management Group LLP now owns 2,532,401 shares of the asset manager’s stock worth $259,571,000 after buying an additional 39,592 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Northern Trust by 2.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,201,309 shares of the asset manager’s stock worth $225,641,000 after buying an additional 62,605 shares in the last quarter. 83.19% of the stock is owned by institutional investors.

Northern Trust Stock Up 0.7%

NASDAQ NTRS opened at $127.93 on Friday. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.57. The company has a fifty day moving average of $115.18 and a two-hundred day moving average of $106.23. The firm has a market capitalization of $24.89 billion, a price-to-earnings ratio of 11.93, a PEG ratio of 1.90 and a beta of 1.26. Northern Trust Corporation has a 52 week low of $80.81 and a 52 week high of $133.00.

Northern Trust (NASDAQ:NTRS) last posted its quarterly earnings data on Tuesday, April 22nd. The asset manager reported $1.90 EPS for the quarter, topping the consensus estimate of $1.85 by $0.05. The company had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.95 billion. Northern Trust had a net margin of 13.93% and a return on equity of 13.73%. On average, analysts predict that Northern Trust Corporation will post 8.27 earnings per share for the current year.

Northern Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Friday, June 6th were paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date was Friday, June 6th. Northern Trust’s dividend payout ratio is currently 27.99%.

Insiders Place Their Bets

In related news, insider Teresa Parker sold 6,467 shares of the company’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 completion of the sale, the insider directly owned 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Clive Bellows sold 3,300 shares of the company’s stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $99.95, for a total transaction of $329,835.00. Following the completion of the sale, the executive vice president directly owned 28,736 shares of the company’s stock, valued at approximately $2,872,163.20. This trade represents a 10.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,772 shares of company stock valued at $981,069 over the last three months. Insiders own 0.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on NTRS. Citigroup lowered their price objective on shares of Northern Trust from $110.00 to $105.00 and set a “neutral” rating for the company in a report on Monday, March 24th. Morgan Stanley upped their price target on shares of Northern Trust from $103.00 to $106.00 and gave the company an “underweight” rating in a report on Tuesday, July 1st. The Goldman Sachs Group upped their price target on shares of Northern Trust from $89.00 to $101.00 and gave the company a “sell” rating in a report on Wednesday, July 2nd. Wells Fargo & Company lowered their price target on shares of Northern Trust from $118.00 to $111.00 and set an “equal weight” rating for the company in a report on Wednesday, April 23rd. Finally, Truist Financial upped their price target on shares of Northern Trust from $116.00 to $126.00 and gave the company a “hold” rating in a report on Thursday, July 3rd. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $114.50.

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.