Van ECK Associates Corp Acquires 1,806 Shares of Northern Trust Co. (NASDAQ:NTRS)

Van ECK Associates Corp raised its holdings in Northern Trust Co. (NASDAQ:NTRS) by 1.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 131,481 shares of the asset manager’s stock after buying an additional 1,806 shares during the quarter. Van ECK Associates Corp’s holdings in Northern Trust were worth $11,837,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Olistico Wealth LLC bought a new stake in shares of Northern Trust in the 2nd quarter worth approximately $25,000. Innealta Capital LLC bought a new stake in shares of Northern Trust in the 2nd quarter worth approximately $26,000. Ridgewood Investments LLC bought a new stake in shares of Northern Trust in the 2nd quarter worth approximately $30,000. Northwest Investment Counselors LLC bought a new stake in shares of Northern Trust in the 3rd quarter worth approximately $39,000. Finally, Versant Capital Management Inc grew its position in shares of Northern Trust by 343.9% in the 2nd quarter. Versant Capital Management Inc now owns 435 shares of the asset manager’s stock worth $37,000 after buying an additional 337 shares during the last quarter. 83.19% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Charles A. Tribbett sold 1,855 shares of Northern Trust stock in a transaction on Friday, September 13th. The stock was sold at an average price of $88.12, for a total value of $163,462.60. Following the completion of the sale, the director now owns 1,000 shares of the company’s stock, valued at $88,120. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Northern Trust news, EVP Teresa Parker sold 5,883 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $84.06, for a total transaction of $494,524.98. Following the completion of the sale, the executive vice president now owns 83,765 shares of the company’s stock, valued at approximately $7,041,285.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Charles A. Tribbett sold 1,855 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $88.12, for a total value of $163,462.60. Following the sale, the director now directly owns 1,000 shares of the company’s stock, valued at $88,120. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 65,636 shares of company stock valued at $6,443,204 over the last 90 days. Company insiders own 0.64% of the company’s stock.

Northern Trust Stock Performance

Shares of NTRS opened at $101.35 on Wednesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71. Northern Trust Co. has a one year low of $68.97 and a one year high of $104.25. The firm has a market capitalization of $20.09 billion, a P/E ratio of 12.61, a PEG ratio of 1.17 and a beta of 1.06. The business has a fifty day moving average of $92.98 and a 200 day moving average of $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 $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 2.96%. The ex-dividend date is Friday, December 6th. Northern Trust’s payout ratio is currently 37.31%.

Analyst Upgrades and Downgrades

NTRS has been the subject of a number of research analyst reports. The Goldman Sachs Group cut Northern Trust from a “neutral” rating to a “sell” rating and lowered their target price for the company from $84.00 to $82.00 in a research note on Thursday, September 26th. Bank of America raised their target price on Northern Trust from $103.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Royal Bank of Canada raised their target price on Northern Trust from $100.00 to $107.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Evercore ISI raised their target price on Northern Trust from $86.00 to $103.00 and gave the company an “in-line” rating in a research note on Thursday, October 24th. Finally, UBS Group raised their target price on Northern Trust from $86.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, October 8th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently 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.