Zurich Insurance Group Ltd FI Purchases 1,443 Shares of Northern Trust Co. (NASDAQ:NTRS)
Zurich Insurance Group Ltd FI lifted its position in shares of Northern Trust Co. (NASDAQ:NTRS) by 4.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,677 shares of the asset manager’s stock after acquiring an additional 1,443 shares during the period. Zurich Insurance Group Ltd FI’s holdings in Northern Trust were worth $3,301,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Litman Gregory Asset Management LLC bought a new stake in shares of Northern Trust during the second quarter valued at approximately $25,000. Resources Investment Advisors Inc. increased its position in shares of Northern Trust by 194.2% during the first quarter. Resources Investment Advisors Inc. now owns 306 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 202 shares in the last quarter. Trust Co. of Vermont increased its position in shares of Northern Trust by 750.0% during the second quarter. Trust Co. of Vermont now owns 340 shares of the asset manager’s stock valued at $31,000 after acquiring an additional 300 shares in the last quarter. Kavar Capital Partners LLC bought a new stake in shares of Northern Trust during the second quarter valued at approximately $32,000. Finally, Oakworth Capital Inc. bought a new stake in shares of Northern Trust during the second quarter valued at approximately $34,000. 80.33% of the stock is owned by institutional investors.
Several equities research analysts recently weighed in on the stock. Citigroup downgraded shares of Northern Trust from a “neutral” rating to a “sell” rating and reduced their price target for the company from $94.00 to $85.00 in a research report on Friday, July 12th. BidaskClub raised shares of Northern Trust from a “sell” rating to a “hold” rating in a research report on Thursday, September 12th. Morgan Stanley raised their price target on shares of Northern Trust from $89.00 to $93.00 and gave the company an “underweight” rating in a research report on Tuesday, September 17th. Deutsche Bank reduced their price target on shares of Northern Trust from $91.00 to $87.00 and set a “hold” rating for the company in a research report on Wednesday, August 21st. Finally, Bank of America reissued a “neutral” rating and set a $97.00 price target (down previously from $107.00) on shares of Northern Trust in a research report on Thursday, June 6th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. Northern Trust currently has a consensus rating of “Hold” and a consensus target price of $104.28.
NASDAQ:NTRS traded up $0.34 during trading hours on Monday, reaching $94.61. The company had a trading volume of 31,879 shares, compared to its average volume of 905,295. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.40. Northern Trust Co. has a 52 week low of $75.96 and a 52 week high of $107.37. The firm has a market cap of $20.58 billion, a price-to-earnings ratio of 14.05, a PEG ratio of 1.70 and a beta of 1.19. The firm’s 50 day moving average price is $90.12 and its 200-day moving average price is $91.77.
Northern Trust (NASDAQ:NTRS) last posted its earnings results on Wednesday, July 24th. The asset manager reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.07. Northern Trust had a net margin of 22.20% and a return on equity of 15.74%. The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter in the previous year, the firm posted $1.68 EPS. The firm’s revenue was down .1% on a year-over-year basis. On average, analysts forecast that Northern Trust Co. will post 6.6 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date of this dividend is Thursday, September 12th. This is an increase from Northern Trust’s previous quarterly dividend of $0.60. Northern Trust’s payout ratio is 41.60%.
About Northern Trust
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, Corporate & Institutional Services (C&IS) and Wealth Management.
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