Euro tumbles after unexpected resignation of new French Prime Minister
Northern Trust Corporation’s stock has reached an all-time high, hitting 135.2 USD. This milestone underscores a significant period of growth for the company, with its stock experiencing a remarkable 49.28% increase over the past year. InvestingPro data reveals the company’s impressive market capitalization of $25.28 billion and a moderate P/E ratio of 15.67, suggesting room for further growth. The financial services company, known for its wealth management and asset servicing operations, has seen its share price steadily climb, reflecting investor confidence and robust business performance. With a solid dividend yield of 2.39% and an impressive 55-year streak of consecutive dividend payments, Northern Trust demonstrates strong financial health. The new peak marks a pivotal moment for Northern Trust, as it continues to capitalize on favorable market conditions and strategic initiatives. For deeper insights and additional metrics, including 10+ exclusive ProTips, check out the comprehensive research report available on InvestingPro.
In other recent news, Northern Trust Corporation has announced a new $2.5 billion stock repurchase program, replacing its previous authorization from October 2021. This new program has no expiration date and allows the company to repurchase shares through various methods, including open market transactions and privately negotiated trades. Additionally, Northern Trust has appointed Anwiti Bahuguna as the global co-chief investment officer of Northern Trust Asset Management, joining Christian Roth and succeeding Michael Hunstad, who has been named president of the firm.
In another development, Northern Trust has expanded its relationship with Brandes Investment Partners to support the launch of the Brandes Global Value Fund in Australia, providing global custody and fund administration services. Furthermore, the State of New Mexico Educational Retirement Board has selected Northern Trust to provide asset servicing solutions for its $18.5 billion fund. These solutions include custody, accounting, and performance measurement, among others.
These recent developments reflect Northern Trust’s ongoing strategic initiatives and partnerships in the financial services industry.
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