Massachusetts Financial Services Co. MA Has $837.86 Million Holdings in Northern Trust Corporation $NTRS

Massachusetts Financial Services Co. MA decreased its holdings in Northern Trust Corporation (NASDAQ:NTRS) by 13.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,224,830 shares of the asset manager’s stock after selling 989,448 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Northern Trust were worth $837,862,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. FNY Investment Advisers LLC bought a new stake in shares of Northern Trust in the second quarter valued at approximately $25,000. AlphaCore Capital LLC lifted its position in shares of Northern Trust by 87.4% during the 2nd quarter. AlphaCore Capital LLC now owns 208 shares of the asset manager’s stock valued at $27,000 after acquiring an additional 97 shares during the period. Hantz Financial Services Inc. grew its holdings in shares of Northern Trust by 5,225.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 213 shares of the asset manager’s stock worth $27,000 after purchasing an additional 209 shares in the last quarter. Clearstead Trust LLC bought a new position in shares of Northern Trust in the second quarter worth $29,000. Finally, GFG Capital LLC bought a new stake in Northern Trust during the second quarter worth about $35,000. Institutional investors own 83.19% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on NTRS shares. Wells Fargo & Company boosted their target price on shares of Northern Trust from $127.00 to $131.00 and gave the company an “equal weight” rating in a research report on Thursday, October 23rd. Citigroup boosted their price objective on shares of Northern Trust from $135.00 to $143.00 and gave the company a “neutral” rating in a research report on Tuesday, December 30th. Wall Street Zen raised Northern Trust from a “sell” rating to a “hold” rating in a report on Saturday, December 27th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Northern Trust in a research note on Wednesday, October 8th. Finally, Truist Financial set a $148.00 price objective on Northern Trust in a research report on Wednesday, January 7th. Five investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $136.00.

Northern Trust Trading Down 1.0%

Shares of NTRS stock opened at $145.57 on Friday. Northern Trust Corporation has a twelve month low of $81.62 and a twelve month high of $148.98. The stock’s fifty day simple moving average is $136.15 and its 200 day simple moving average is $131.27. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $27.53 billion, a P/E ratio of 16.97, a P/E/G ratio of 1.21 and a beta of 1.27.

Northern Trust (NASDAQ:NTRS) last announced its quarterly earnings results on Wednesday, October 22nd. The asset manager reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.03. The firm had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.02 billion. Northern Trust had a return on equity of 14.37% and a net margin of 11.99%.The business’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period last year, the firm posted $2.22 earnings per share. As a group, sell-side analysts predict that Northern Trust Corporation will post 8.27 EPS for the current fiscal year.

Northern Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 1st. Shareholders of record on Friday, December 5th were issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Friday, December 5th. Northern Trust’s payout ratio is presently 37.30%.

Insider Buying and Selling at Northern Trust

In other Northern Trust news, Director Robert Edward Jr. Moritz purchased 3,891 shares of the company’s stock in a transaction dated Tuesday, November 4th. The stock was purchased at an average price of $128.57 per share, with a total value of $500,265.87. Following the completion of the purchase, the director owned 6,686 shares of the company’s stock, valued at approximately $859,619.02. The trade was a 139.21% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Susan Cohen Levy sold 27,591 shares of the business’s stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $128.13, for a total transaction of $3,535,234.83. Following the completion of the sale, the executive vice president directly owned 48,257 shares in the company, valued at approximately $6,183,169.41. This represents a 36.38% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.77% of the company’s stock.

About Northern Trust

Northern Trust Corporation (NASDAQ: NTRS) is a global financial services firm headquartered in Chicago that provides asset servicing, asset management and wealth management solutions to institutions, corporations and high-net-worth individuals. The company’s core businesses include custody and fund administration, investment operations outsourcing, trust and fiduciary services, private banking, and retirement and defined contribution plan services.

Northern Trust’s product and service offerings span custody and fund accounting, portfolio and performance analytics, securities lending, cash management and foreign exchange, as well as discretionary and non-discretionary investment management.