B. Metzler seel. Sohn & Co. AG Makes New $8.62 Million Investment in Northern Trust Corporation $NTRS

Key Points

• B. Metzler seel. Sohn & Co. AG acquired 49,613 Northern Trust shares in the second quarter, valued at approximately $8.62 million. Institutional investors collectively own 83.19% of the company.
• Northern Trust reported strong quarterly results, with EPS of $4.23 versus the $2.71 consensus and revenue up 35.1% year over year to $2.71 billion.
• The company raised its quarterly dividend from $0.80 to $0.88 per share, equating to an annualized $3.52 dividend and a 1.9% yield; analysts maintain a consensus “Hold” rating with a $180.68 price target.

B. Metzler seel. Sohn & Co. AG bought a new position in Northern Trust Corporation (NASDAQ:NTRS - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 49,613 shares of the asset manager's stock, valued at approximately $8,625,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Concurrent Investment Advisors LLC purchased a new stake in Northern Trust in the 4th quarter worth approximately $1,959,000. Goldman Sachs Group Inc. grew its position in shares of Northern Trust by 5.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,894,755 shares of the asset manager's stock valued at $395,395,000 after purchasing an additional 161,826 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Northern Trust by 1,838.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 180,034 shares of the asset manager's stock worth $22,793,000 after purchasing an additional 170,745 shares during the period. PFA Pension Forsikringsaktieselskab bought a new position in shares of Northern Trust in the fourth quarter worth $67,126,000. Finally, Strs Ohio raised its position in shares of Northern Trust by 83.0% in the fourth quarter. Strs Ohio now owns 136,403 shares of the asset manager's stock worth $18,631,000 after buying an additional 61,858 shares in the last quarter. Institutional investors own 83.19% of the company's stock.

Insider Buying and Selling

In other Northern Trust news, Director Robert Edward Jr. Moritz purchased 255 shares of the company's stock in a transaction that occurred on Wednesday, July 29th. The stock was bought at an average price of $179.57 per share, with a total value of $45,790.35. Following the completion of the purchase, the director directly owned 8,400 shares of the company's stock, valued at $1,508,388. The trade was a 3.13% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 0.66% of the stock is owned by insiders.

Northern Trust Stock Performance

Northern Trust stock opened at $182.51 on Friday. The firm has a fifty day simple moving average of $181.32 and a two-hundred day simple moving average of $163.13. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.43. Northern Trust Corporation has a twelve month low of $121.12 and a twelve month high of $195.78. The company has a market capitalization of $33.39 billion, a PE ratio of 15.67, a P/E/G ratio of 1.04 and a beta of 1.25.

Northern Trust (NASDAQ:NTRS - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The asset manager reported $4.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.71 by $1.52. Northern Trust had a return on equity of 16.91% and a net margin of 14.76%.The business had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.69 billion. During the same period last year, the company earned $2.13 EPS. Northern Trust's revenue for the quarter was up 35.1% compared to the same quarter last year. Research analysts expect that Northern Trust Corporation will post 11.59 EPS for the current year.

Northern Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 4th will be issued a dividend of $0.88 per share. The ex-dividend date is Friday, September 4th. This represents a $3.52 dividend on an annualized basis and a yield of 1.9%. This is a boost from Northern Trust's previous quarterly dividend of $0.80. Northern Trust's dividend payout ratio (DPR) is presently 27.47%.

Wall Street Analysts Forecast Growth

NTRS has been the topic of a number of research analyst reports. Bank of America increased their price target on shares of Northern Trust from $190.00 to $200.00 and gave the stock a "buy" rating in a report on Tuesday, July 7th. Wells Fargo & Company upped their target price on shares of Northern Trust from $189.00 to $194.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 23rd. Citigroup increased their target price on Northern Trust from $162.00 to $172.00 and gave the company a "neutral" rating in a research note on Tuesday, June 30th. JPMorgan Chase & Co. raised their price target on Northern Trust from $179.50 to $185.50 and gave the company a "neutral" rating in a research report on Tuesday, August 4th. Finally, Royal Bank Of Canada lowered Northern Trust from an "outperform" rating to a "sector perform" rating and set a $178.00 price target for the company. in a research note on Wednesday, July 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, Northern Trust presently has an average rating of "Hold" and a consensus target price of $180.68.

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.

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