Northern Trust Stock Price, News & Analysis

Northern Trust (NTRS) has been reappointed by Lancashire County Pension Fund to provide custody and performance measurement services for its £11.5 billion (US$14.6 billion) fund. This renewal extends their 13-year partnership, highlighting Northern Trust's commitment to the Local Government Pension Scheme (LGPS) sector.

Lancashire County Pension Fund serves approximately 189,000 employees and over 300 public sector employers in North West England. The reappointment underscores Northern Trust's expertise in serving LGPS clients and its role as a strategic partner to the LGPS community.

Northern Trust's Asset Owner business provides custody services to over 370 clients with US$3.01 trillion in assets under custody across EMEA, as of 31 May 2024. This reappointment reinforces Northern Trust's position as a leading asset servicing provider to UK pension funds.

Northern Trust (NTRS) has released its second quarter 2024 financial results. The company's earnings report is available on its investor relations website and has been filed with the SEC. Northern Trust will host a webcast earnings conference call on July 17, 2024, at 8:30 a.m. CT to discuss the results. Investors and analysts can access the live call through the company's website, and a recording will be available for approximately four weeks afterward. Participants will need Windows Media or Adobe Flash software to join the webcast.

Northern Trust (Nasdaq: NTRS) has declared quarterly cash dividends on its common and preferred stock. The company will pay $0.75 per share on common stock to holders of record as of September 6, 2024, payable on October 1, 2024. For preferred stock, Series D will receive $2,300 per share ($23.00 per depositary share), and Series E will receive $293.75 per share ($0.29375 per depositary share), both payable on October 1, 2024, to holders of record as of September 15, 2024. This dividend declaration demonstrates Northern Trust's commitment to returning value to shareholders and reflects the company's financial stability.

Northern Trust has appointed Ali Nafii as Market Leader in San Diego, where he will direct the wealth management business for high-net-worth individuals and families. Nafii, who joined Northern Trust in 2015, will be responsible for driving strategic growth in San Diego, leading a team that provides investment management, trust, banking, and advisory solutions.

Previously serving as Client Development Market Lead & Senior Portfolio Advisor in Orange County, Nafii's appointment follows impressive new business results in San Diego in 2023. Northern Trust Wealth Management offers holistic wealth management services and has $420.6 billion in assets under management as of March 31, 2024.

Northern Trust (Nasdaq: NTRS) has been appointed by Valverde Investment Partners Pte to provide custody, fund administration, foreign exchange, and cash management services for its new Variable Capital Company (VCC) fund and its sub-fund, ASEAN+ Fund (VAPF). Valverde is a newly established independent investment management firm in Singapore, focusing on ASEAN equities. The VCC and VAPF aim for long-term absolute returns through investments in publicly traded ASEAN companies. Northern Trust's appointment underscores its position as a premier provider of custody and fund services in Singapore. Valverde's CEO, John Foo, highlighted Northern Trust's global expertise and client-focused approach as key factors in this partnership.

Northern Trust has published its latest Sustainability Report, focusing on sustainability efforts that benefit clients, employees, shareholders, communities, and the environment. Chairman and CEO Michael O’Grady and Head of Corporate Sustainability, Kimberly Evans, emphasized the importance of ethical business practices, risk management, and community care.

Key achievements in 2023 include maintaining an outstanding Community Reinvestment Act (CRA) rating for the 28th year, with community investments exceeding $4.6 billion; supporting over 900 charities worldwide, and contributing 106,000 hours of volunteer work by employees; increasing diverse supplier spending from 6% to 10%; and enhancing climate risk management by reducing energy consumption by 27% and implementing Energy and Environmental Management Systems (EMS) in offices in Europe and the Middle East. The report also highlights ongoing efforts in diversity, equity, and inclusion.

Northern Trust remains committed to making a positive, sustainable impact in collaboration with stakeholders.

Northern Trust announced the Federal Reserve's 2024 Comprehensive Capital Analysis and Review (CCAR) results, indicating a 2.5% Stress Capital Buffer (SCB), unchanged from the current level. This SCB will be effective from October 1, 2024, to September 30, 2025, ensuring a minimum common equity tier 1 (CET1) ratio of 7%. CEO Michael O’Grady emphasized the strength of Northern Trust's capital position and business model. Northern Trust plans to maintain its quarterly cash dividend of $0.75 per share, subject to board approval, and will evaluate potential stock repurchases based on its strong capital position and market conditions.

On June 27, 2024, Northern Trust celebrated Reserves Day on June 26th and Armed Forces Day on June 29th. The company's Military Appreciation and Assistance Business Resource Council (MAARC) collaborated with the Women in Leadership Business Resource Council at their London office. The event featured former British Army personnel Jeannie Saville and Bridget Forster, who shared their military experiences and career insights. David Brooks MBCI, MAARC Co-Chair, led the discussion, highlighting the challenges and successes of female military leaders. Northern Trust, a gold award signatory of the Armed Forces Covenant, has been recognized as a top 50 employer of veterans in the UK.

Northern Trust (Nasdaq: NTRS) has been chosen by Canada Life Asset Management (CLAM) to provide comprehensive asset servicing solutions, which include middle office outsourcing, global custody, securities lending, fund administration, and depositary services. This partnership consolidates all middle office solutions under Northern Trust and includes investment book of record and data solutions.

Headquartered in London, CLAM manages over £39.6 billion across various asset classes like fixed income, equities, UK property, and multi-asset solutions. This move aims to enhance operating model efficiency and data quality, aligning with institutional asset managers' and owners' needs for simplified yet complex management models.

Mark Giancola, COO of CLAM, expressed confidence in Northern Trust's ability to support their diverse investments and deliver high-quality data. Laurence Everitt, Northern Trust's Head of Global Fund Services, UK, highlighted their investment in technology and global operating model as key factors in meeting CLAM’s requirements.