ShankerValleau Wealth Advisors Inc. Makes New $404,000 Investment in Northern Trust Co. (NASDAQ:NTRS)

ShankerValleau Wealth Advisors Inc. bought a new position in shares of Northern Trust Co. (NASDAQ:NTRS) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 4,816 shares of the asset manager’s stock, valued at approximately $404,000. Northern Trust makes up approximately 0.2% of ShankerValleau Wealth Advisors Inc.’s portfolio, making the stock its 18th largest position.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bayesian Capital Management LP increased its holdings in Northern Trust by 986.3% in the fourth quarter. Bayesian Capital Management LP now owns 37,900 shares of the asset manager’s stock valued at $3,198,000 after purchasing an additional 34,411 shares during the period. CANADA LIFE ASSURANCE Co boosted its position in shares of Northern Trust by 6.8% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 360,640 shares of the asset manager’s stock worth $32,111,000 after purchasing an additional 23,020 shares in the last quarter. Sequoia Financial Advisors LLC boosted its position in shares of Northern Trust by 557.8% during the 1st quarter. Sequoia Financial Advisors LLC now owns 30,813 shares of the asset manager’s stock worth $2,740,000 after purchasing an additional 26,129 shares in the last quarter. Bessemer Group Inc. raised its holdings in shares of Northern Trust by 668.0% in the 1st quarter. Bessemer Group Inc. now owns 20,205 shares of the asset manager’s stock worth $1,797,000 after acquiring an additional 17,574 shares during the last quarter. Finally, AIA Group Ltd raised its holdings in shares of Northern Trust by 4.3% in the 1st quarter. AIA Group Ltd now owns 602,785 shares of the asset manager’s stock worth $53,600,000 after acquiring an additional 24,791 shares during the last quarter. Institutional investors and hedge funds own 83.19% of the company’s stock.

Northern Trust Trading Down 2.3 %

Shares of NTRS traded down $2.00 during mid-day trading on Friday, reaching $84.89. The stock had a trading volume of 1,366,006 shares, compared to its average volume of 1,366,178. 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 52-week low of $62.44 and a 52-week high of $92.46. The business’s fifty day moving average is $84.60 and its 200 day moving average is $83.60. The firm has a market cap of $17.37 billion, a price-to-earnings ratio of 18.74, a P/E/G ratio of 1.29 and a beta of 1.10.

Northern Trust (NASDAQ:NTRS) last announced its earnings results on Wednesday, July 17th. The asset manager reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.03. The company had revenue of $2.72 billion during the quarter, compared to analyst estimates of $1.84 billion. Northern Trust had a net margin of 10.53% and a return on equity of 12.24%. Northern Trust’s revenue was up 53.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.79 earnings per share. On average, sell-side analysts predict that Northern Trust Co. will post 7.02 EPS for the current fiscal year.

Northern Trust Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 6th will be issued a $0.75 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $3.00 annualized dividend and a yield of 3.53%. Northern Trust’s dividend payout ratio (DPR) is 66.23%.

Analysts Set New Price Targets

Several brokerages have commented on NTRS. Morgan Stanley cut their price target on shares of Northern Trust from $97.00 to $93.00 and set an “underweight” rating for the company in a report on Tuesday, July 30th. Keefe, Bruyette & Woods decreased their price objective on shares of Northern Trust from $92.00 to $85.00 and set a “market perform” rating on the stock in a research report on Thursday, June 27th. Jefferies Financial Group lifted their target price on shares of Northern Trust from $101.00 to $103.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Royal Bank of Canada increased their price target on shares of Northern Trust from $86.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday, July 18th. Finally, Bank of America raised their target price on shares of Northern Trust from $93.00 to $101.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $87.33.

Insider Activity at Northern Trust

In related news, insider Peter Cherecwich sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $87.09, for a total value of $1,045,080.00. Following the sale, the insider now owns 31,471 shares of the company’s stock, valued at $2,740,809.39. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.64% of the stock is owned by corporate insiders.

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.