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

Mutual of America Capital Management LLC trimmed its stake in Northern Trust Co. (NASDAQ:NTRS) by 3.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,831 shares of the asset manager’s stock after selling 970 shares during the period. Mutual of America Capital Management LLC’s holdings in Northern Trust were worth $2,236,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA lifted its position in shares of Northern Trust by 13.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,413,620 shares of the asset manager’s stock worth $622,596,000 after purchasing an additional 850,556 shares during the last quarter. Panagora Asset Management Inc. increased its holdings in shares of Northern Trust by 4,660.5% in the 2nd quarter. Panagora Asset Management Inc. now owns 399,932 shares of the asset manager’s stock valued at $33,586,000 after acquiring an additional 391,531 shares during the period. Primecap Management Co. CA raised its position in shares of Northern Trust by 3.9% in the 2nd quarter. Primecap Management Co. CA now owns 7,046,757 shares of the asset manager’s stock worth $591,787,000 after acquiring an additional 261,285 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Northern Trust by 12.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,003,675 shares of the asset manager’s stock worth $168,253,000 after purchasing an additional 219,387 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in Northern Trust by 55.1% during the second quarter. AQR Capital Management LLC now owns 597,146 shares of the asset manager’s stock valued at $49,575,000 after purchasing an additional 212,089 shares in the last quarter. 83.19% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on NTRS. The Goldman Sachs Group downgraded shares of Northern Trust from a “neutral” rating to a “sell” rating and lowered their target price for the company from $84.00 to $82.00 in a research note on Thursday, September 26th. Barclays upped their target price on Northern Trust from $98.00 to $115.00 and gave the company an “equal weight” rating in a research report on Thursday, October 24th. UBS Group increased their price objective on shares of Northern Trust from $86.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, October 8th. Morgan Stanley upped their price target on shares of Northern Trust from $97.00 to $103.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. Finally, Royal Bank of Canada lifted their price objective on shares of Northern Trust from $100.00 to $107.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Three analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $100.67.

Northern Trust Stock Performance

NASDAQ NTRS opened at $109.46 on Monday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.71. The stock’s fifty day moving average is $97.76 and its two-hundred day moving average is $89.79. The firm has a market capitalization of $21.70 billion, a P/E ratio of 13.61, a price-to-earnings-growth ratio of 1.23 and a beta of 1.06. Northern Trust Co. has a fifty-two week low of $75.55 and a fifty-two week high of $109.92.

Northern Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 6th will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $3.00 annualized dividend and a yield of 2.74%. Northern Trust’s dividend payout ratio (DPR) is 37.31%.

Insider Buying and Selling at Northern Trust

In other Northern Trust news, EVP Thomas A. South sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $105.80, for a total value of $529,000.00. Following the completion of the transaction, the executive vice president now owns 49,756 shares of the company’s stock, valued at $5,264,184.80. This trade represents a 9.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Peter Cherecwich sold 16,153 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $105.18, for a total transaction of $1,698,972.54. Following the completion of the sale, the chief operating officer now owns 4,397 shares in the company, valued at $462,476.46. The trade was a 78.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 80,906 shares of company stock worth $8,176,652 over the last quarter. 0.64% of the stock is currently owned by company insiders.

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.