Northern Trust Stock Price, News & Analysis

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.

Northern Trust (Nasdaq: NTRS) has announced a strategic agreement with Hamilton Lane (Nasdaq: HLNE) to provide Hamilton Lane's proprietary software Cobalt LP® and integrated services to Northern Trust Asset Servicing clients. This collaboration aims to offer advanced private market analytics and decision support to Northern Trust clients.

The agreement includes access to Hamilton Lane's private market data, analytics, and tools through Northern Trust's Total Portfolio Analytics solutions. Clients will benefit from Cobalt LP®'s advanced analytics and pre-commitment research capabilities, as well as Hamilton Lane's portfolio company data service for tracking core metrics across private markets portfolios.

This partnership addresses the increasing need for sophisticated analytics as global clients maintain significant exposure to private markets. It combines Hamilton Lane's front office analytics with Northern Trust's core Front Office Solutions investment book of record (IBOR) support, offering a comprehensive front-to-back office decision-making solution.

Northern Trust has announced the appointment of Srilatha Lakkaraju as the new Director of Charitable Giving Solutions for their Foundation & Institutional Advisors (FIA) practice. In this role, Lakkaraju will oversee the national strategy and implementation of Donor Advised Fund and Private Foundation Administration solutions.

Lakkaraju brings 14 years of experience from Bank of America, where she managed private foundations and nonprofit organizations nationwide. Her background includes public policy advocacy for nonprofit tax policy, governance, and compliance issues.

Darius A. Gill, National Practice Executive for FIA, expressed excitement about Lakkaraju joining the team, highlighting her expertise as valuable for accelerating growth in their charitable giving solutions. Lakkaraju holds a Master of Science in Public Service from DePaul University and a Bachelor of Science in Management of Information Systems from the University of Illinois at Urbana-Champaign.

Northern Trust has appointed Srilatha Lakkaraju as the Director of Charitable Giving Solutions within its Foundation & Institutional Advisors (FIA) practice. In this role, Lakkaraju will oversee the national strategy and implementation of Donor Advised Fund and Private Foundation Administration solutions.

Lakkaraju brings 14 years of experience from Bank of America, where she managed private foundations and nonprofit organizations nationwide. Her background includes public policy advocacy for nonprofit tax policy, governance, and compliance issues.

Darius A. Gill, National Practice Executive for FIA, expressed excitement about Lakkaraju joining the team, highlighting her expertise as valuable for accelerating growth in their charitable giving solutions. Northern Trust's FIA practice serves nonprofit organizations and private foundations through investment management solutions, strategic insights, and resources to help achieve financial and philanthropic goals.

Northern Trust Asset Management (NTAM), managing $1.2 trillion in assets as of June 30, 2024, has announced two strategic hires to strengthen its Wealth Client Group. Michael Gottesman joins as National Sales Manager, Wealth Management, and Wesley Urick as Head of Strategic Accounts, Wealth Management.

Gottesman, with 27 years of industry experience, will lead sales and client service strategy. Urick, bringing over 30 years of expertise, will focus on NTAM's strategic relationship with Northern Trust Wealth Management's Investment Practice. Both are based in Chicago and report to NTAM Wealth Client Group Co-Heads Sunitha Thomas and Suzanne Casey.

These appointments aim to drive growth, strengthen relationships, and deliver innovative investment solutions to Northern Trust Wealth Management clients.

Northern Trust (NTRS) has announced plans to webcast its third quarter 2024 earnings conference call. The event is scheduled for Wednesday, October 23, 2024, at 8:30 a.m. (CT). Investors and interested parties will be able to access the live webcast, earnings press release, and related presentation materials on Northern Trust's website. The company will release its third quarter 2024 earnings press release on the morning of the call. For those unable to attend the live event, a replay of the webcast will be available for approximately four weeks following the call date.