Welcome to our dedicated page for T. Rowe Price Group news (Ticker: $TROW), a resource for investors and traders seeking the latest updates and insights on T. Rowe Price Group stock.
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T. Rowe Price has announced a partnership with Ascensus to enhance the experience for 529 plan account owners. T. Rowe Price will remain the investment and program manager for its state-sponsored 529 plans, while Ascensus, with its extensive servicing technology and expertise, will handle recordkeeping and account servicing. This collaboration aims to offer account owners an improved online and mobile platform, an enhanced gifting platform, and seamless electronic payments to over 800 educational institutions. The partnership leverages Ascensus' track record in 529 administration, which supports 6.5 million savers with over $200 billion in assets. T. Rowe Price manages education savings for over 675,000 account owners.
T. Rowe Price has released its 2023 Community Snapshot, highlighting the firm's dedication to community support both locally in Baltimore and globally, including regions like Colorado, New York, the UK, and Asia Pacific. The report showcases the firm's extensive involvement in community service, emphasizing their strategic partnerships and volunteer initiatives.
Key figures from the snapshot include $22.1 million in total firm giving, reaching 15.5 million people through financial education programs, and a cumulative $182.3 million given by the T. Rowe Price Foundation since 1981. Additionally, over 32,000 volunteer hours were contributed by more than 1,700 associates, and 440 nonprofits have benefited from associates serving on their boards.
The firm's efforts underscore its commitment to creating equitable solutions and strengthening communities through long-term community investments and corporate responsibility initiatives.
T. Rowe Price Group, Inc. reported preliminary month-end assets under management of $1.48 trillion as of April 30, 2024, with net outflows of $7.8 billion. The firm's assets under management decreased from the prior quarter, with equity, fixed income, multi-asset, and alternatives categories outlined. Target date retirement products also showed a decrease in assets.
T. Rowe Price OHA Select Private Credit Fund (OCREDIT) announced financial results with total distributions of $0.87 per share in Q1 2024. The company reported strong interest income and attractive asset yields, growing net asset value per share and successful fundings. OCREDIT launched on a major wirehouse platform and issued new common shares, declaring distributions of $0.23 per share for the quarter.
T. Rowe Price Group, Inc. declared a quarterly dividend of $1.24 per share payable on June 27, 2024. The company's Board of Directors elected all 11 nominees, approved executive compensation, and ratified KPMG LLP as the independent registered public accounting firm for 2024.
As we celebrate Asian American Native Hawaiian Pacific Islander (AANHPI) Heritage Month, T. Rowe Price recognizes the diversity and contributions of the AANHPI community. The theme emphasizes the innovation and leadership of AANHPI members in driving economic prosperity, technological advancements, and social change. Associates share their experiences and insights on advancing leaders through innovation, promoting diversity, and fostering progress.
