MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Acquires Shares of 3,008 Northern Trust Co. (NASDAQ:NTRS)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new stake in Northern Trust Co. (NASDAQ:NTRS - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,008 shares of the asset manager's stock, valued at approximately $297,000.

Other large investors have also bought and sold shares of the company. Ellevest Inc. lifted its holdings in shares of Northern Trust by 3.4% during the fourth quarter. Ellevest Inc. now owns 3,410 shares of the asset manager's stock valued at $350,000 after purchasing an additional 113 shares during the last quarter. Bradley Foster & Sargent Inc. CT increased its position in Northern Trust by 2.4% in the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 4,774 shares of the asset manager's stock worth $489,000 after purchasing an additional 114 shares during the last quarter. Moors & Cabot Inc. increased its holdings in Northern Trust by 4.0% in the fourth quarter. Moors & Cabot Inc. now owns 3,560 shares of the asset manager's stock worth $365,000 after buying an additional 137 shares during the last quarter. Steward Partners Investment Advisory LLC raised its holdings in shares of Northern Trust by 29.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 597 shares of the asset manager's stock valued at $61,000 after purchasing an additional 137 shares in the last quarter. Finally, Fifth Third Bancorp lifted its position in shares of Northern Trust by 1.7% in the first quarter. Fifth Third Bancorp now owns 10,876 shares of the asset manager's stock worth $1,073,000 after buying an additional 179 shares during the last quarter. Institutional investors own 83.19% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on NTRS shares. Wells Fargo & Company decreased their price target on shares of Northern Trust from $118.00 to $111.00 and set an "equal weight" rating for the company in a report on Wednesday, April 23rd. Truist Financial decreased their price objective on Northern Trust from $98.00 to $92.00 and set a "hold" rating on the stock in a report on Wednesday, April 23rd. Evercore ISI dropped their target price on shares of Northern Trust from $104.00 to $100.00 and set an "in-line" rating for the company in a research report on Wednesday, April 23rd. Wall Street Zen downgraded Northern Trust from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Finally, Royal Bank of Canada reduced their target price on shares of Northern Trust from $115.00 to $105.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $108.42.

Insider Transactions at Northern Trust

In other Northern Trust news, EVP Clive Bellows sold 3,300 shares of the firm's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $99.95, for a total value of $329,835.00. Following the completion of the sale, the executive vice president now directly owns 28,736 shares in the company, valued at approximately $2,872,163.20. This trade represents a 10.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Teresa Parker sold 6,467 shares of the stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $100.62, for a total transaction of $650,709.54. Following the transaction, the insider now directly owns 79,391 shares in the company, valued at $7,988,322.42. This trade represents a 7.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,772 shares of company stock valued at $981,069 in the last quarter. 0.77% of the stock is currently owned by company insiders.

Northern Trust Trading Up 2.9%

Shares of NASDAQ:NTRS traded up $3.16 during trading on Monday, reaching $110.91. The stock had a trading volume of 1,838,554 shares, compared to its average volume of 1,299,778. Northern Trust Co. has a 52 week low of $80.45 and a 52 week high of $114.67. The firm's fifty day moving average is $99.74 and its 200 day moving average is $103.13. The stock has a market cap of $21.58 billion, a price-to-earnings ratio of 11.34, a P/E/G ratio of 1.72 and a beta of 1.22. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.71 and a current ratio of 0.68.

Northern Trust (NASDAQ:NTRS - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The asset manager reported $1.90 earnings per share for the quarter, topping analysts' consensus estimates of $1.85 by $0.05. Northern Trust had a return on equity of 13.74% and a net margin of 12.77%. The firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.95 billion. As a group, equities analysts forecast that Northern Trust Co. will post 8.27 EPS for the current fiscal year.

Northern Trust Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 6th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend is Friday, June 6th. Northern Trust's payout ratio is 27.99%.

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.