Munich Reinsurance Co Stock Corp in Munich Has $3.47 Million Position in Northern Trust Corporation $NTRS

Munich Reinsurance Co Stock Corp in Munich increased its holdings in shares of Northern Trust Corporation (NASDAQ:NTRS) by 251.7% in the 2nd quarter, Holdings Channel.com reports. The firm owned 19,965 shares of the asset manager’s stock after acquiring an additional 14,289 shares during the quarter. 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 SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Empowered Funds LLC grew its stake in shares of Northern Trust by 13.3% in the first quarter. Empowered Funds LLC now owns 20,112 shares of the asset manager’s stock worth $1,984,000 after acquiring an additional 2,363 shares during the last quarter. Woodline Partners LP raised its stake in Northern Trust by 39.1% during the 1st quarter. Woodline Partners LP now owns 16,557 shares of the asset manager’s stock valued at $1,633,000 after purchasing an additional 4,653 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Northern Trust by 79.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,350 shares of the asset manager’s stock valued at $171,000 after purchasing an additional 596 shares during the period. WINTON GROUP Ltd acquired a new stake in Northern Trust in the 2nd quarter worth $267,000. Finally, Daiwa Securities Group Inc. grew its position in Northern Trust by 4.6% in the 2nd quarter. Daiwa Securities Group Inc. now owns 29,290 shares of the asset manager’s stock worth $3,714,000 after purchasing an additional 1,275 shares during the last quarter. Institutional investors and hedge funds own 83.19% of the company’s stock.

Insider Activity

In other Northern Trust news, EVP Thomas A. South sold 1,800 shares of the business’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $184.90, for a total value 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. The trade was 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 this hyperlink. Also, Director Robert Moritz, Jr. acquired 255 shares of the firm’s stock in a transaction on Wednesday, July 29th. The shares were purchased at an average cost of $179.57 per share, for a total transaction of $45,790.35. Following the completion of the purchase, the director directly owned 8,400 shares of the company’s stock, valued at approximately $1,508,388. The trade was a 3.13% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

NTRS has been the subject of a number of research analyst reports. Bank of America upped their price objective on shares of Northern Trust from $190.00 to $200.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Weiss Ratings restated a “buy (b)” rating on shares of Northern Trust in a research note on Friday, July 31st. UBS Group set a $186.00 price target on Northern Trust in a report on Friday, June 26th. Wells Fargo & Company raised their price objective on Northern Trust from $189.00 to $194.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 23rd. Finally, JPMorgan Chase & Co. boosted their price target on shares of Northern Trust from $179.50 to $185.50 and gave the company a “neutral” rating in a report on Tuesday, August 4th. Four research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $180.68.

Northern Trust Stock Performance

Shares of NASDAQ:NTRS opened at $186.63 on Friday. The business’s fifty day moving average price is $183.88 and its two-hundred day moving average price is $165.84. Northern Trust Corporation has a fifty-two week low of $121.12 and a fifty-two week high of $195.78. The stock has a market capitalization of $34.15 billion, a price-to-earnings ratio of 16.02, a price-to-earnings-growth ratio of 1.05 and a beta of 1.24. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.65 and a quick ratio of 0.65.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings data 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. The firm had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.69 billion. Northern Trust had a return on equity of 16.91% and a net margin of 14.76%.The business’s revenue for the quarter was up 35.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.13 earnings per share. As a group, analysts predict that Northern Trust Corporation will post 11.59 EPS for the current fiscal year.

Northern Trust Increases Dividend

The company 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 of this dividend is Friday, September 4th. This represents a $3.52 annualized dividend and a yield of 1.9%. This is an increase from Northern Trust’s previous quarterly dividend of $0.80. Northern Trust’s payout ratio is 27.47%.

Northern Trust Company 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.