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

Mutual of America Capital Management LLC grew its holdings in Northern Trust Co. (NASDAQ:NTRSGet Rating) by 1.1% in the 1st quarter, HoldingsChannel reports. The firm owned 27,726 shares of the asset manager’s stock after purchasing an additional 308 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Northern Trust were worth $3,229,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Steward Partners Investment Advisory LLC boosted its stake in shares of Northern Trust by 27.8% in the first quarter. Steward Partners Investment Advisory LLC now owns 552 shares of the asset manager’s stock valued at $64,000 after purchasing an additional 120 shares during the period. Signaturefd LLC raised its holdings in Northern Trust by 12.1% in the first quarter. Signaturefd LLC now owns 2,381 shares of the asset manager’s stock valued at $277,000 after acquiring an additional 257 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in Northern Trust by 6.8% in the first quarter. Daiwa Securities Group Inc. now owns 12,271 shares of the asset manager’s stock valued at $1,429,000 after acquiring an additional 782 shares in the last quarter. Atwood & Palmer Inc. raised its holdings in Northern Trust by 34.5% in the first quarter. Atwood & Palmer Inc. now owns 390 shares of the asset manager’s stock valued at $46,000 after acquiring an additional 100 shares in the last quarter. Finally, Harfst & Associates Inc. raised its holdings in Northern Trust by 5.8% in the first quarter. Harfst & Associates Inc. now owns 14,536 shares of the asset manager’s stock valued at $1,692,000 after acquiring an additional 799 shares in the last quarter. Hedge funds and other institutional investors own 81.35% of the company’s stock.

Northern Trust Price Performance

Shares of NASDAQ NTRS opened at $96.96 on Thursday. The firm has a market capitalization of $20.20 billion, a P/E ratio of 13.21 and a beta of 1.14. Northern Trust Co. has a one year low of $89.68 and a one year high of $135.15. The company’s fifty day moving average is $100.31 and its two-hundred day moving average is $109.74. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.68 and a current ratio of 0.65.

Northern Trust (NASDAQ:NTRSGet Rating) last issued its earnings results on Wednesday, July 20th. The asset manager reported $1.86 EPS for the quarter, missing the consensus estimate of $1.93 by ($0.07). The company had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.77 billion. Northern Trust had a return on equity of 14.82% and a net margin of 23.13%. Northern Trust’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.72 earnings per share. Analysts forecast that Northern Trust Co. will post 7.41 EPS for the current fiscal year.

Northern Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, October 1st. Investors of record on Friday, September 9th will be given a $0.75 dividend. The ex-dividend date of this dividend is Thursday, September 8th. This is a positive change from Northern Trust’s previous quarterly dividend of $0.70. This represents a $3.00 annualized dividend and a dividend yield of 3.09%. Northern Trust’s payout ratio is currently 38.15%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on NTRS. Credit Suisse Group reduced their target price on shares of Northern Trust from $106.00 to $99.00 and set an “underperform” rating on the stock in a report on Thursday, July 21st. Wells Fargo & Company cut their price objective on shares of Northern Trust from $141.00 to $121.00 and set an “overweight” rating on the stock in a report on Friday, July 1st. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Northern Trust from $113.00 to $112.00 and set a “buy” rating on the stock in a report on Wednesday, July 13th. Barclays cut their price objective on shares of Northern Trust from $140.00 to $120.00 and set an “equal weight” rating on the stock in a report on Thursday, July 21st. Finally, Royal Bank of Canada cut their price objective on shares of Northern Trust from $133.00 to $110.00 and set an “outperform” rating on the stock in a report on Friday, July 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $119.35.

About Northern Trust

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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, Corporate & Institutional Services (C&IS) and Wealth Management.

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