Massmutual Trust Co. FSB ADV Purchases 151 Shares of Northern Trust Co. (NASDAQ:NTRS)

Massmutual Trust Co. FSB ADV increased its position in Northern Trust Co. (NASDAQ:NTRS) by 23.1% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 805 shares of the asset manager’s stock after buying an additional 151 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Northern Trust were worth $68,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Primecap Management Co. CA boosted its stake in shares of Northern Trust by 6.1% in 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 purchasing an additional 394,855 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Northern Trust by 31.2% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 6,533,855 shares of the asset manager’s stock worth $551,327,000 after acquiring an additional 1,553,783 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Northern Trust by 140.2% during the fourth 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. Dimensional Fund Advisors LP boosted its stake in Northern Trust by 0.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,771,463 shares of the asset manager’s stock worth $149,485,000 after purchasing an additional 8,724 shares in the last quarter. Finally, Confluence Investment Management LLC bought a new stake in Northern Trust in the 1st quarter worth about $105,665,000. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Northern Trust Stock Up 0.8 %

NASDAQ:NTRS traded up $0.62 during midday trading on Tuesday, hitting $83.10. 1,244,951 shares of the company were exchanged, compared to its average volume of 1,368,154. Northern Trust Co. has a fifty-two week low of $62.44 and a fifty-two week high of $92.46. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $17.00 billion, a PE ratio of 18.59, a price-to-earnings-growth ratio of 1.29 and a beta of 1.10. The company has a fifty day simple moving average of $84.58 and a 200 day simple moving average of $83.61.

Northern Trust (NASDAQ:NTRS) last announced its earnings results on Wednesday, July 17th. The asset manager reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.03. The business had revenue of $2.72 billion during the quarter, compared to the consensus estimate of $1.84 billion. Northern Trust had a net margin of 10.53% and a return on equity of 12.24%. The business’s quarterly revenue was up 53.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.79 earnings per share. As a group, equities analysts anticipate that Northern Trust Co. will post 7.02 earnings per share for the current fiscal year.

Northern Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 6th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 3.61%. The ex-dividend date of this dividend is Friday, September 6th. Northern Trust’s dividend payout ratio (DPR) is presently 66.23%.

Wall Street Analysts Forecast Growth

NTRS has been the subject of several research reports. The Goldman Sachs Group dropped their price objective on shares of Northern Trust from $94.00 to $84.00 and set a “neutral” rating for the company in a report on Tuesday, July 2nd. Royal Bank of Canada increased their price objective on Northern Trust from $86.00 to $90.00 and gave the stock an “outperform” rating in a research note on Thursday, July 18th. Morgan Stanley dropped their target price on shares of Northern Trust from $97.00 to $93.00 and set an “underweight” rating on the stock in a report on Tuesday, July 30th. Bank of America increased their target price on Northern Trust from $93.00 to $101.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of Northern Trust from $92.00 to $85.00 and set a “market perform” rating for the company in a report on Thursday, June 27th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Northern Trust presently has a consensus rating of “Hold” and an average price target of $87.33.

Insider Activity at Northern Trust

In related news, insider Peter Cherecwich sold 12,000 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $87.09, for a total transaction of $1,045,080.00. Following the transaction, the insider now directly owns 31,471 shares in the company, valued at $2,740,809.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.64% of the stock is owned by insiders.

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.