Northern Trust Corporation $NTRS Stake Increased by Munich Reinsurance Co Stock Corp in Munich

Key Points

• Munich Reinsurance increased its Northern Trust stake by 251.7% in the second quarter, holding 19,965 shares valued at approximately $3.47 million. Institutional investors collectively own 83.19% of NTRS.
• Northern Trust reported strong quarterly results, with earnings per share of $4.23 beating estimates by $1.52 and revenue rising 35.1% year over year to $2.71 billion.
• The company raised its quarterly dividend from $0.80 to $0.88 per share, implying an annualized dividend of $3.52 and a 1.9% yield. Analysts maintain a generally neutral outlook, with an average “Hold” rating and a $180.68 price target.

Munich Reinsurance Co Stock Corp in Munich boosted its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS - Free Report) by 251.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,965 shares of the asset manager's stock after buying an additional 14,289 shares during the period. Munich Reinsurance Co Stock Corp in Munich's holdings in Northern Trust were worth $3,471,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Continuum Advisory LLC purchased a new position in Northern Trust during the 2nd quarter valued at about $26,000. Keating Financial Advisory Services Inc. purchased a new stake in shares of Northern Trust in the second quarter worth approximately $31,000. Reflection Asset Management acquired a new stake in shares of Northern Trust during the fourth quarter worth approximately $25,000. Triumph Capital Management purchased a new position in Northern Trust during the third quarter valued at approximately $25,000. Finally, Basecamp Wealth Advisors LLC grew its position in Northern Trust by 99.0% during the first quarter. Basecamp Wealth Advisors LLC now owns 203 shares of the asset manager's stock valued at $28,000 after purchasing an additional 101 shares in the last quarter. 83.19% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Northern Trust news, EVP Thomas A. South sold 1,800 shares of the firm's stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $184.90, for a total transaction of $332,820.00. Following the transaction, the executive vice president directly owned 92,917 shares in the company, valued at $17,180,353.30. This trade represents a 1.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert Moritz, Jr. purchased 255 shares of the firm's stock in a transaction dated Wednesday, July 29th. The shares were bought at an average price of $179.57 per share, with a total value of $45,790.35. Following the purchase, the director owned 8,400 shares in the company, valued at $1,508,388. This represents a 3.13% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.66% of the stock is owned by company insiders.

Northern Trust Stock Performance

NTRS stock opened at $186.63 on Friday. The firm has a 50 day moving average of $183.88 and a two-hundred day moving average of $165.84. Northern Trust Corporation has a 12 month low of $121.12 and a 12 month high of $195.78. The company has a market capitalization of $34.15 billion, a price-to-earnings ratio of 16.02, a P/E/G ratio of 1.05 and a beta of 1.24. 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 (NASDAQ:NTRS - Get Free Report) last released its quarterly earnings results on Wednesday, July 22nd. The asset manager reported $4.23 earnings per share for the quarter, beating analysts' consensus estimates of $2.71 by $1.52. Northern Trust had a net margin of 14.76% and a return on equity of 16.91%. The business had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.69 billion. During the same quarter last year, the firm earned $2.13 EPS. Northern Trust's revenue for the quarter was up 35.1% on a year-over-year basis. As a group, equities analysts anticipate that Northern Trust Corporation will post 11.59 EPS for the current fiscal year.

Northern Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 4th will be given a dividend of $0.88 per share. The ex-dividend date of this dividend is Friday, September 4th. This is a positive change from Northern Trust's previous quarterly dividend of $0.80. This represents a $3.52 annualized dividend and a yield of 1.9%. Northern Trust's dividend payout ratio (DPR) is currently 27.47%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on NTRS shares. Bank of America increased their target price on shares of Northern Trust from $190.00 to $200.00 and gave the stock a "buy" rating in a research report on Tuesday, July 7th. Morgan Stanley upped their price target on shares of Northern Trust from $170.00 to $173.00 and gave the stock an "underweight" rating in a research note on Thursday, July 23rd. Weiss Ratings reiterated a "buy (b)" rating on shares of Northern Trust in a report on Friday, July 31st. Royal Bank Of Canada cut Northern Trust from an "outperform" rating to a "sector perform" rating and set a $178.00 price objective for the company. in a research report on Wednesday, July 22nd. Finally, JPMorgan Chase & Co. boosted their target price on Northern Trust from $179.50 to $185.50 and gave the company a "neutral" rating in a research note on Tuesday, August 4th. Four investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target 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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