Mutual of America Capital Management LLC Trims Holdings in Northern Trust Co. (NASDAQ:NTRS) (2024)

Mutual of America Capital Management LLC lessened its stake in Northern Trust Co. (NASDAQ:NTRS – Free Report) by 2.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,894 shares of the asset manager’s stock after selling 809 shares during the period. Mutual of America Capital Management LLC’s holdings in Northern Trust were worth $2,391,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its stake in shares of Northern Trust by 140.2% in the 4th quarter. Wellington Management Group LLP now owns 5,802,792 shares of the asset manager’s stock valued at $489,640,000 after purchasing an additional 3,387,002 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Northern Trust by 31.2% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 6,533,855 shares of the asset manager’s stock valued at $551,327,000 after purchasing an additional 1,553,783 shares during the last quarter. Confluence Investment Management LLC bought a new position in shares of Northern Trust in the 1st quarter worth about $105,665,000. Norges Bank acquired a new position in shares of Northern Trust in the 4th quarter valued at about $90,532,000. Finally, Primecap Management Co. CA grew its position in shares of Northern Trust by 6.1% during the 4th quarter. Primecap Management Co. CA now owns 6,891,902 shares of the asset manager’s stock valued at $581,539,000 after buying an additional 394,855 shares during the last quarter. 83.19% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Northern Trust

In related news, insider Peter Cherecwich sold 12,000 shares of Northern Trust stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $87.09, for a total value of $1,045,080.00. Following the transaction, the insider now directly owns 31,471 shares in the company, valued at approximately $2,740,809.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Peter Cherecwich sold 12,000 shares of Northern Trust stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $87.09, for a total value of $1,045,080.00. Following the transaction, the insider now directly owns 31,471 shares of the company’s stock, valued at $2,740,809.39. The transaction was disclosed in a legal filing 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 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 sale, the insider now owns 46,078 shares in the company, valued at approximately $3,804,199.68. The disclosure for this sale can be found here. 0.64% of the stock is owned by corporate insiders.

Northern Trust Trading Up 2.8 %

Shares of NTRS stock opened at $89.28 on Friday. The stock has a 50-day simple moving average of $83.86 and a 200 day simple moving average of $83.21. The stock has a market capitalization of $18.27 billion, a P/E ratio of 19.71, a P/E/G 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 quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.61.

Northern Trust (NASDAQ:NTRS – Get Free Report) last posted its quarterly earnings data on Tuesday, April 16th. The asset manager reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.23. The company had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.79 billion. Northern Trust had a net margin of 7.59% and a return on equity of 12.57%. On average, sell-side analysts expect that Northern Trust Co. will post 6.91 earnings per share for the current fiscal year.

Northern Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 7th were given a $0.75 dividend. The ex-dividend date was Friday, June 7th. This represents a $3.00 annualized dividend and a yield of 3.36%. Northern Trust’s dividend payout ratio (DPR) is 66.23%.

Analyst Ratings Changes

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

Get Our Latest Analysis on Northern Trust

Northern Trust Profile

(Free Report)

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.