What is Northern Trust's latest dividend and current dividend yield?

What were the key takeaways from Northern Trust's earnings call?

What is Northern Trust's gross profit margin?

What factors drove the changes in Northern Trust's revenue and profit?

What does Northern Trust do and what are its main business segments?

What is the market's earnings forecast for Northern Trust next quarter?

What were the key takeaways from Northern Trust’s earnings call?

What is the revenue and EPS growth rate for Northern Trust year over year?

- **Revenue Growth**: 6% YoY driven by Wealth Management (+5% fees) and Asset Servicing (+6% fees). Pretax margin +200bps to 29.7%.
- **AI Transformation**: 150+ use cases saving $10M+ annually, with 20% productivity gains in tech. 2026 margin improvement expected.
- **Strategic Wins**: $49B new mandates in Asset Servicing, 11 new ETFs launched by NTAM, and 50 South Capital feeder fund for Wealth clients.
- **Financial Discipline**: Below-5% expense growth, 98% payout ratio, and 14.8% ROE. 2026 NII flat to +1-2% despite rate cuts.

**【CEO Summary Section】**
- Q3 revenue grew 6% YoY, driven by Wealth Management and Asset Servicing. Pretax margin expanded 200bps to 29.7%, with ROE at 14.8%.
- AI adoption across 150+ use cases saved tens of thousands of hours, enabling reinvestment in growth initiatives.
- Wealth Management AUM up 11% YoY, with strong flows in alternatives and ETFs. Asset Servicing won $49B in new mandates, including $19B from New Mexico ERB.
- NTAM launched 11 new ETFs, with liquidity strategies attracting $6B in U.S. treasuries.

**【CFO Financial Commentary】**
- Q3 net income: $458M (EPS $2.29), up 14% YoY. Revenue +6% YoY, expenses +4.7% YoY, with operating leverage of 110bps.
- Wealth Management fees +5% YoY, Asset Servicing fees +6% YoY. NII on FTE basis: $596M (-3% QoQ, +9% YoY).
- Return on equity: 14.8%, with $431M returned to shareholders (98% payout ratio). Full-year NII guidance: mid- to high single-digit growth.

**【Q&A Highlights】**
- **AI Impact**: 20% productivity gains in tech, 150+ use cases reducing costs by $10M+ annually. 
- **Deposit Trends**: Q4 deposits expected to stabilize after Q3 decline, with 2026 NII flat to +1-2% despite rate cuts.
- **Expense Management**: Below-5% expense growth target maintained, with 4.4% ex-currency. 2026 margin improvement from AI-driven efficiency.
- **Business Strategy**: Focusing on high-margin alternatives (e.g., LTIF/LTAF), while allowing low-margin asset servicing business to roll off.
- **Market Risk**: Goals-based wealth management approach mitigates volatility through diversified portfolios and liquidity reserves.

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