Jackson Creek Investment Advisors LLC Invests $248,000 in Northern Trust Co. (NASDAQ:NTRS)

Jackson Creek Investment Advisors LLC acquired a new position in Northern Trust Co. (NASDAQ:NTRS) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 2,949 shares of the asset manager’s stock, valued at approximately $248,000.

Other large investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its holdings in shares of Northern Trust by 140.2% during the fourth quarter. Wellington Management Group LLP now owns 5,802,792 shares of the asset manager’s stock valued at $489,640,000 after purchasing an additional 3,387,002 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Northern Trust by 31.2% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 6,533,855 shares of the asset manager’s stock valued at $551,327,000 after buying an additional 1,553,783 shares during the period. Confluence Investment Management LLC bought a new stake in shares of Northern Trust during the 1st quarter worth about $105,665,000. Norges Bank acquired a new stake in shares of Northern Trust in the 4th quarter worth approximately $90,532,000. Finally, Primecap Management Co. CA boosted its holdings in shares of Northern Trust by 6.1% in the fourth quarter. Primecap Management Co. CA now owns 6,891,902 shares of the asset manager’s stock valued at $581,539,000 after acquiring an additional 394,855 shares in the last quarter. 83.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Northern Trust

In other news, EVP Mark C. Gossett sold 6,000 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $88.90, for a total value of $533,400.00. Following the completion of the sale, the executive vice president now directly owns 28,707 shares of the company’s stock, valued at $2,552,052.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Northern Trust news, EVP Mark C. Gossett sold 6,000 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $88.90, for a total value of $533,400.00. Following the completion of the sale, the executive vice president now owns 28,707 shares in the company, valued at approximately $2,552,052.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Teresa Parker sold 5,883 shares of Northern Trust stock in a transaction on Friday, August 9th. The shares were sold at an average price of $84.06, for a total transaction of $494,524.98. Following the sale, the executive vice president now directly owns 83,765 shares of the company’s stock, valued at approximately $7,041,285.90. The disclosure for this sale can be found here. Company insiders own 0.64% of the company’s stock.

Northern Trust Stock Performance

Northern Trust stock opened at $89.45 on Thursday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.71 and a quick ratio of 0.71. The company has a market cap of $18.04 billion, a P/E ratio of 19.75, a price-to-earnings-growth ratio of 1.53 and a beta of 1.10. Northern Trust Co. has a fifty-two week low of $62.44 and a fifty-two week high of $92.46. The firm’s 50 day simple moving average is $86.47 and its 200-day simple moving average is $84.63.

Northern Trust (NASDAQ:NTRS) last announced its earnings results on Wednesday, July 17th. The asset manager reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.03. The company had revenue of $2.72 billion for the quarter, compared to the consensus estimate of $1.84 billion. Northern Trust had a net margin of 10.53% and a return on equity of 12.24%. The company’s revenue was up 53.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.79 EPS. As a group, equities research analysts predict that Northern Trust Co. will post 7.01 EPS for the current year.

Northern Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 6th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $3.00 dividend on an annualized basis and a yield of 3.35%. Northern Trust’s payout ratio is presently 66.23%.

Analysts Set New Price Targets

Several brokerages recently commented on NTRS. Keefe, Bruyette & Woods dropped their target price on Northern Trust from $92.00 to $85.00 and set a “market perform” rating on the stock in a report on Thursday, June 27th. Deutsche Bank Aktiengesellschaft cut their price objective on Northern Trust from $85.00 to $84.00 and set a “hold” rating for the company in a report on Thursday, August 15th. Morgan Stanley lowered their target price on Northern Trust from $97.00 to $93.00 and set an “underweight” rating on the stock in a report on Tuesday, July 30th. The Goldman Sachs Group dropped their price target on shares of Northern Trust from $94.00 to $84.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 2nd. Finally, Royal Bank of Canada lifted their price objective on shares of Northern Trust from $86.00 to $90.00 and gave the stock an “outperform” rating in a research note on Thursday, July 18th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $88.75.

Northern Trust 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.