Northern Trust Co. (NASDAQ:NTRS) Position Lowered by Van ECK Associates Corp

Van ECK Associates Corp lowered its stake in Northern Trust Co. (NASDAQ:NTRS - Free Report) by 48.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 67,689 shares of the asset manager's stock after selling 63,792 shares during the quarter. Van ECK Associates Corp's holdings in Northern Trust were worth $6,938,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of NTRS. FMR LLC boosted its stake in shares of Northern Trust by 9.3% during the third quarter. FMR LLC now owns 18,187,663 shares of the asset manager's stock valued at $1,637,435,000 after acquiring an additional 1,542,685 shares during the last quarter. KBC Group NV lifted its holdings in Northern Trust by 201.6% in the 4th quarter. KBC Group NV now owns 963,811 shares of the asset manager's stock valued at $98,791,000 after purchasing an additional 644,261 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Northern Trust by 9.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,296,442 shares of the asset manager's stock worth $386,809,000 after purchasing an additional 388,692 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in shares of Northern Trust by 62.8% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 678,461 shares of the asset manager's stock worth $69,542,000 after buying an additional 261,797 shares in the last quarter. Finally, International Assets Investment Management LLC raised its position in shares of Northern Trust by 93,421.2% in the third quarter. International Assets Investment Management LLC now owns 185,172 shares of the asset manager's stock valued at $152,194,000 after buying an additional 184,974 shares during the last quarter. Institutional investors and hedge funds own 83.19% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Morgan Stanley decreased their target price on shares of Northern Trust from $127.00 to $125.00 and set an "equal weight" rating on the stock in a research report on Friday, January 3rd. Evercore ISI raised their price objective on Northern Trust from $86.00 to $103.00 and gave the stock an "in-line" rating in a report on Thursday, October 24th. Deutsche Bank Aktiengesellschaft upped their target price on Northern Trust from $100.00 to $108.00 and gave the company a "hold" rating in a research note on Monday, November 11th. Truist Financial raised their price target on Northern Trust from $110.00 to $116.00 and gave the stock a "hold" rating in a research note on Friday, January 24th. Finally, Bank of America upped their price objective on shares of Northern Trust from $103.00 to $115.00 and gave the company a "buy" rating in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $112.58.

Northern Trust Trading Down 0.5 %

Shares of Northern Trust stock traded down $0.56 during trading hours on Friday, hitting $112.97. The company's stock had a trading volume of 1,006,850 shares, compared to its average volume of 1,204,719. The company has a quick ratio of 0.71, a current ratio of 0.68 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $22.39 billion, a PE ratio of 11.55, a P/E/G ratio of 1.73 and a beta of 1.08. The business has a fifty day moving average of $107.09 and a 200 day moving average of $99.85. Northern Trust Co. has a 1-year low of $79.30 and a 1-year high of $114.67.

Northern Trust (NASDAQ:NTRS - Get Free Report) last announced its quarterly earnings results on Thursday, January 23rd. The asset manager reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.30. Northern Trust had a return on equity of 13.74% and a net margin of 12.77%. As a group, equities analysts forecast that Northern Trust Co. will post 8.25 EPS for the current year.

Northern Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend is Friday, March 14th. Northern Trust's dividend payout ratio is presently 30.67%.

Insiders Place Their Bets

In related news, Vice Chairman Steven L. Fradkin sold 9,100 shares of the business's stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $111.00, for a total value of $1,010,100.00. Following the transaction, the insider now owns 47,797 shares in the company, valued at approximately $5,305,467. The trade was a 15.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Thomas A. South sold 3,804 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $113.00, for a total value of $429,852.00. Following the sale, the executive vice president now owns 81,794 shares of the company's stock, valued at approximately $9,242,722. This trade represents a 4.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 44,435 shares of company stock worth $4,980,311 in the last 90 days. 0.64% of the stock is owned by company insiders.

Northern Trust Company Profile

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.