Munich Reinsurance Co Stock Corp in Munich Invests $792,000 in Northern Trust Corporation $NTRS

Munich Reinsurance Co Stock Corp in Munich acquired a new stake in shares of Northern Trust Corporation (NASDAQ:NTRS) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,676 shares of the asset manager’s stock, valued at approximately $792,000.

Several other hedge funds have also recently made changes to their positions in NTRS. V Square Quantitative Management LLC lifted its position in Northern Trust by 1.3% during the 1st quarter. V Square Quantitative Management LLC now owns 4,793 shares of the asset manager’s stock worth $669,000 after acquiring an additional 61 shares during the period. CWS Financial Advisors LLC increased its holdings in shares of Northern Trust by 2.0% in the first quarter. CWS Financial Advisors LLC now owns 3,997 shares of the asset manager’s stock valued at $558,000 after purchasing an additional 77 shares during the period. SJS Investment Consulting Inc. increased its holdings in shares of Northern Trust by 16.5% in the first quarter. SJS Investment Consulting Inc. now owns 559 shares of the asset manager’s stock valued at $78,000 after purchasing an additional 79 shares during the period. Apollon Wealth Management LLC raised its stake in shares of Northern Trust by 1.9% in the fourth quarter. Apollon Wealth Management LLC now owns 4,379 shares of the asset manager’s stock worth $598,000 after purchasing an additional 81 shares during the last quarter. Finally, OLD National Bancorp IN raised its stake in shares of Northern Trust by 3.2% in the first quarter. OLD National Bancorp IN now owns 2,663 shares of the asset manager’s stock worth $372,000 after purchasing an additional 83 shares during the last quarter. 83.19% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Northern Trust news, CFO David W. Fox, Jr. sold 19,987 shares of the stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $166.16, for a total transaction of $3,321,039.92. Following the transaction, the chief financial officer owned 18,588 shares in the company, valued at approximately $3,088,582.08. This represents a 51.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert Edward Jr. Moritz acquired 225 shares of the company’s stock in a transaction on Friday, May 1st. The stock was acquired at an average cost of $166.41 per share, for a total transaction of $37,442.25. Following the completion of the acquisition, the director owned 8,145 shares of the company’s stock, valued at $1,355,409.45. This trade represents a 2.84% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold 22,800 shares of company stock worth $3,785,251 in the last ninety days. Company insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. upped their target price on Northern Trust from $170.00 to $179.50 and gave the company a “neutral” rating in a research report on Monday. Royal Bank Of Canada raised their price target on shares of Northern Trust from $159.00 to $178.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. UBS Group set a $186.00 price objective on shares of Northern Trust in a research note on Friday, June 26th. Keefe, Bruyette & Woods upped their price objective on shares of Northern Trust from $157.00 to $175.00 and gave the company an “underperform” rating in a report on Thursday. Finally, Wells Fargo & Company increased their price objective on shares of Northern Trust from $175.00 to $189.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Northern Trust currently has a consensus rating of “Hold” and a consensus price target of $178.75.

Northern Trust Stock Performance

NTRS opened at $182.86 on Friday. The firm has a fifty day moving average price of $170.15 and a 200 day moving average price of $154.54. Northern Trust Corporation has a 1 year low of $118.99 and a 1 year high of $185.57. The stock has a market cap of $33.84 billion, a P/E ratio of 19.15, a P/E/G ratio of 1.15 and a beta of 1.25. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.62 and a quick ratio of 0.62.

Northern Trust (NASDAQ:NTRS) last released its quarterly earnings results on Tuesday, April 21st. The asset manager reported $2.71 EPS for the quarter, beating the consensus estimate of $2.37 by $0.34. Northern Trust had a net margin of 12.84% and a return on equity of 15.94%. The company had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same quarter last year, the business earned $1.90 earnings per share. The firm’s revenue was up 13.8% on a year-over-year basis. Equities research analysts anticipate that Northern Trust Corporation will post 11.29 earnings per share for the current year.

Northern Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Friday, June 5th were given a dividend of $0.80 per share. The ex-dividend date was Friday, June 5th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.7%. Northern Trust’s dividend payout ratio (DPR) is 33.51%.

Northern Trust 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.