MassMutual Private Wealth & Trust FSB Has $135,000 Stake in Northern Trust Corporation $NTRS

MassMutual Private Wealth & Trust FSB lifted its position in shares of Northern Trust Corporation (NASDAQ:NTRS) by 9.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,062 shares of the asset manager’s stock after acquiring an additional 88 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in Northern Trust were worth $135,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA lifted its holdings in Northern Trust by 4.9% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 7,850,088 shares of the asset manager’s stock worth $774,411,000 after buying an additional 363,472 shares during the period. Invesco Ltd. raised its position in shares of Northern Trust by 19.3% in the 1st quarter. Invesco Ltd. now owns 3,443,599 shares of the asset manager’s stock worth $339,711,000 after acquiring an additional 558,287 shares in the last quarter. American Century Companies Inc. raised its position in shares of Northern Trust by 0.7% in the 1st quarter. American Century Companies Inc. now owns 3,013,123 shares of the asset manager’s stock worth $297,245,000 after acquiring an additional 20,010 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Northern Trust by 47.8% in the 1st quarter. Bank of New York Mellon Corp now owns 1,810,816 shares of the asset manager’s stock worth $178,637,000 after acquiring an additional 585,992 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Northern Trust by 9.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,727,365 shares of the asset manager’s stock worth $177,055,000 after acquiring an additional 150,274 shares in the last quarter. 83.19% of the stock is owned by institutional investors and hedge funds.

Northern Trust Stock Performance

NTRS opened at $131.50 on Friday. The firm has a market capitalization of $25.15 billion, a PE ratio of 15.45, a PEG ratio of 1.57 and a beta of 1.30. Northern Trust Corporation has a twelve month low of $81.62 and a twelve month high of $133.00. The firm’s 50-day moving average price is $128.33 and its 200 day moving average price is $112.38. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.58.

Northern Trust (NASDAQ:NTRS) last posted its earnings results on Wednesday, July 23rd. The asset manager reported $2.13 earnings per share for the quarter, beating the consensus estimate of $2.08 by $0.05. The company had revenue of $2 billion for the quarter, compared to analyst estimates of $1.96 billion. Northern Trust had a net margin of 11.75% and a return on equity of 14.06%. Northern Trust’s revenue was down 26.4% on a year-over-year basis. During the same period in the previous year, the business posted $4.34 EPS. As a group, sell-side analysts expect that Northern Trust Corporation will post 8.27 EPS for the current fiscal year.

Northern Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 5th will be issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Friday, September 5th. This is a positive change from Northern Trust’s previous quarterly dividend of $0.75. Northern Trust’s dividend payout ratio (DPR) is 37.60%.

Insider Activity at Northern Trust

In related news, Director Robert Edward Jr. Moritz bought 256 shares of the company’s stock in a transaction that occurred on Wednesday, August 13th. The shares were purchased at an average cost of $126.34 per share, with a total value of $32,343.04. Following the transaction, the director directly owned 2,525 shares of the company’s stock, valued at approximately $319,008.50. This represents a 11.28% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.77% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on NTRS shares. Citigroup upped their price target on Northern Trust from $110.00 to $135.00 and gave the stock a “neutral” rating in a research note on Friday, September 5th. Wells Fargo & Company increased their target price on Northern Trust from $111.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 24th. The Goldman Sachs Group increased their price objective on Northern Trust from $89.00 to $101.00 and gave the stock a “sell” rating in a research report on Wednesday, July 2nd. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and set a $118.00 price objective (down from $120.00) on shares of Northern Trust in a research note on Thursday, July 24th. Finally, Wall Street Zen cut Northern Trust from a “hold” rating to a “sell” rating in a research note on Saturday, August 16th. Two research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Northern Trust currently has an average rating of “Reduce” and a consensus price target of $119.58.

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.