Munich Reinsurance Co Stock Corp in Munich Acquires Shares of 5,676 Northern Trust Corporation $NTRS

Munich Reinsurance Co Stock Corp in Munich bought a new stake in Northern Trust Corporation (NASDAQ:NTRS) during the 1st quarter, HoldingsChannel reports. The firm bought 5,676 shares of the asset manager’s stock, valued at approximately $792,000.

Several other hedge funds have also recently modified their holdings of the stock. Triumph Capital Management purchased a new stake in Northern Trust during the 3rd quarter worth approximately $25,000. Reflection Asset Management purchased a new stake in shares of Northern Trust during the fourth quarter worth approximately $25,000. Board of the Pension Protection Fund purchased a new stake in shares of Northern Trust during the fourth quarter worth approximately $27,000. Elyxium Wealth LLC acquired a new position in Northern Trust in the 4th quarter valued at $34,000. Finally, International Assets Investment Management LLC purchased a new position in Northern Trust in the 4th quarter valued at $35,000. Institutional investors and hedge funds own 83.19% of the company’s stock.

Northern Trust Stock Up 1.6%

NTRS stock opened at $182.86 on Friday. The firm has a market cap of $33.84 billion, a PE ratio of 19.15, a PEG ratio of 1.15 and a beta of 1.25. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.62 and a current ratio of 0.62. The firm’s 50 day moving average price is $170.15 and its 200-day moving average price is $154.54. Northern Trust Corporation has a one year low of $118.99 and a one year high of $185.57.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings data on Tuesday, April 21st. The asset manager reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.37 by $0.34. The company had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.13 billion. Northern Trust had a return on equity of 15.94% and a net margin of 12.84%.The firm’s revenue for the quarter was up 13.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.90 earnings per share. On average, equities research analysts anticipate that Northern Trust Corporation will post 11.29 EPS for the current year.

Northern Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Friday, June 5th were issued a dividend of $0.80 per share. The ex-dividend date was Friday, June 5th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.7%. Northern Trust’s dividend payout ratio is currently 33.51%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on NTRS shares. UBS Group set a $186.00 target price on shares of Northern Trust in a report on Friday, June 26th. Evercore set a $179.00 price target on shares of Northern Trust in a research note on Monday. Citigroup boosted their price target on shares of Northern Trust from $162.00 to $172.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 30th. Zacks Research upgraded shares of Northern Trust from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. Finally, Barclays raised their target price on shares of Northern Trust from $160.00 to $176.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $178.75.

Insider Buying and Selling

In related news, insider Clive Bellows sold 2,800 shares of the business’s stock in a transaction dated Friday, April 24th. The shares were sold at an average price of $165.02, for a total value of $462,056.00. Following the sale, the insider directly owned 28,217 shares in the company, valued at approximately $4,656,369.34. The trade was a 9.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO David W. Fox, Jr. sold 19,987 shares of the business’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $166.16, for a total transaction of $3,321,039.92. Following the completion of the sale, the chief financial officer owned 18,588 shares in the company, valued at approximately $3,088,582.08. This trade represents a 51.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 22,800 shares of company stock valued at $3,785,251. 0.66% of the stock is currently owned by insiders.

Northern Trust Profile

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.