Northern Trust Stock Price, News & Analysis

Northern Trust has secured three major awards from Professional Wealth Management and The Banker magazines, including 'Best Private Bank in the U.S.' for the 13th time, 'Best Private Bank in North America for Entrepreneurs', and 'Best Private Bank in North America for Ultra High Net Worth Clients'. The awards recognize Northern Trust's excellence in wealth management, particularly noting their data analysis capabilities and comprehensive services for entrepreneurs and family businesses. With over $440 billion in assets under management, the company serves affluent individuals, families, and businesses through specialized teams offering tailored wealth management solutions, succession planning, and commercial banking services.

Northern Trust announced a reduction in its prime rate from 8.00% to 7.75%, which will take effect on Friday, November 8, 2024. This 25 basis point decrease represents an adjustment in the bank's benchmark lending rate.

Northern Trust reports strong Q3 2024 performance for U.S. institutional investors, with the All Funds Over $100 Million plan universe achieving a 4.7% median return. The Corporate (ERISA) universe led with 6.4%, followed by Public Funds at 4.5% and Foundation & Endowment at 4.2%. Strong performance was driven by U.S. equities and fixed income markets, with small-cap stocks outperforming large-caps. The U.S. Fixed Income program posted a 5.0% median return, while the U.S. Equity Program achieved 6.3%. One-year returns approached 20% across segments.

Northern Trust (NTRS) completed a record-breaking month of service with employees contributing 61,000 volunteer hours to support more than 1,600 nonprofit organizations across 20 countries. The 'Achieving Greater Together' initiative included activities like blood donation drives in India, animal shelter support in Luxembourg, and food donation assistance in the UK. The company provides employees with two paid volunteer days annually and pledges 50 meals for every hour volunteered in October. This year's efforts resulted in a pledge of over 3 million meals through partnerships with global food banking networks.

Northern Trust Asset Management (NTAM), managing $1.3 trillion in assets, has appointed Robert Eaton as Senior Relationship Manager within their Wealth Client Group. Eaton brings over 20 years of experience in asset management, ETFs, and wealth-tech, previously serving as Head of Strategic Relationships at BondBloxx Investment Management ETFs and various leadership roles at BlackRock. His expertise spans relationship management, product strategy, portfolio analytics, and wealth-tech business development across different wealth channels.

Northern Trust (NTRS) has been appointed as custodian by Cadent Gas Pension Trustee for its £4.6 billion (US$6 billion) defined benefit scheme. The appointment, following an independent due diligence exercise, covers custody services for public and private assets, along with performance and SORP reporting. Northern Trust's asset owner business currently services over 370 clients with US$2.8 trillion in assets under custody across Europe, Middle East and Africa as of August 2024.

Canadian pension plans achieved strong performance in Q3 2023, with the Northern Trust Canada Universe reporting a median return of 4.8% for the quarter and 8.4% year-to-date as of September 30. The positive results were driven by robust performance in both stocks and bonds, with Canadian equities leading at 10.5% returns. The quarter saw significant monetary policy shifts, including the U.S. Federal Reserve's 50-basis point rate cut and the Bank of Canada's 25-basis point cut to 4.25%. The Canadian Fixed Income market advanced 4.7%, while international markets also showed strong performance with the MSCI EAFE Index recording 6.0% in CAD.

Northern Trust announced the release of its third quarter 2024 financial results. The company will host an earnings conference call on October 23, 2024, at 8:30 a.m. CT, which will be accessible via webcast on their website. The webcast recording will be available for approximately four weeks after the live event. Detailed financial results can be accessed through Northern Trust's website and their SEC filing on Form 8-K.

Northern Trust (Nasdaq: NTRS) has announced quarterly dividend declarations for its common and preferred stock. The company will pay a cash dividend of $0.75 per share on its common stock, payable on January 1, 2025, to shareholders of record as of December 6, 2024. Additionally, Northern Trust declared a cash dividend of $293.75 per share on its Series E non-cumulative perpetual preferred stock, resulting in a distribution of $0.29375 per depository share. This preferred stock dividend is also payable on January 1, 2025, to holders of record as of December 15, 2024.