Can Northern Trust (NTRS) Stay Near Fair Value After Its CFO Change?

Northern Trust has delivered a powerful 3 year share price run, yet the real test for today’s valuation is whether the business is earning enough on its capital to justify where the stock now trades. With investors also watching management changes and product shifts, the key question is whether those moves support the returns the company generates on every dollar it invests. The stock has returned 173.4% over the past 3 years, which puts a lot of weight on whether the underlying returns on...