Van ECK Associates Corp Boosts Stock Position in Northern Trust Co. (NASDAQ:NTRS)

Van ECK Associates Corp grew its position in shares of Northern Trust Co. (NASDAQ:NTRS) by 1.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 131,481 shares of the asset manager’s stock after buying an additional 1,806 shares during the period. Van ECK Associates Corp owned 0.07% of Northern Trust worth $11,837,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in NTRS. Massachusetts Financial Services Co. MA lifted its position in shares of Northern Trust by 13.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,413,620 shares of the asset manager’s stock valued at $622,596,000 after buying an additional 850,556 shares during the last quarter. Panagora Asset Management Inc. lifted its position in shares of Northern Trust by 4,660.5% during the 2nd quarter. Panagora Asset Management Inc. now owns 399,932 shares of the asset manager’s stock valued at $33,586,000 after buying an additional 391,531 shares during the last quarter. Primecap Management Co. CA lifted its position in shares of Northern Trust by 3.9% during the 2nd quarter. Primecap Management Co. CA now owns 7,046,757 shares of the asset manager’s stock valued at $591,787,000 after buying an additional 261,285 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Northern Trust by 12.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,003,675 shares of the asset manager’s stock valued at $168,253,000 after buying an additional 219,387 shares during the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of Northern Trust by 55.1% during the 2nd quarter. AQR Capital Management LLC now owns 597,146 shares of the asset manager’s stock valued at $49,575,000 after buying an additional 212,089 shares during the last quarter. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Northern Trust Price Performance

Shares of NASDAQ NTRS opened at $101.35 on Wednesday. The firm has a market capitalization of $20.09 billion, a P/E ratio of 12.61, a P/E/G ratio of 1.17 and a beta of 1.06. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.58. Northern Trust Co. has a twelve month low of $68.97 and a twelve month high of $104.25. The stock’s 50-day simple moving average is $92.98 and its two-hundred day simple moving average is $87.65.

Northern Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 6th will be issued a dividend of $0.75 per share. The ex-dividend date is Friday, December 6th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.96%. Northern Trust’s dividend payout ratio is 37.31%.

Insider Activity at Northern Trust

In related news, Director Charles A. Tribbett sold 1,855 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $88.12, for a total transaction of $163,462.60. Following the transaction, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $88,120. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Charles A. Tribbett sold 1,855 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $88.12, for a total transaction of $163,462.60. Following the transaction, the director now directly owns 1,000 shares in the company, valued at $88,120. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Steven L. Fradkin sold 27,874 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $100.50, for a total value of $2,801,337.00. Following the transaction, the insider now owns 46,078 shares in the company, valued at approximately $4,630,839. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 65,636 shares of company stock valued at $6,443,204. Corporate insiders own 0.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on NTRS shares. The Goldman Sachs Group cut Northern Trust from a “neutral” rating to a “sell” rating and dropped their price target for the company from $84.00 to $82.00 in a research report on Thursday, September 26th. Wells Fargo & Company boosted their price objective on Northern Trust from $92.00 to $108.00 and gave the company an “equal weight” rating in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft boosted their price objective on Northern Trust from $84.00 to $94.00 and gave the company a “hold” rating in a research note on Monday, September 23rd. Barclays boosted their price objective on Northern Trust from $98.00 to $115.00 and gave the company an “equal weight” rating in a research note on Thursday, October 24th. Finally, Royal Bank of Canada boosted their price objective on Northern Trust from $100.00 to $107.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $99.33.

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, 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.