T Rowe Price Grp Stock Price, News & Analysis

T. Rowe Price Group reported preliminary assets under management (AUM) of $1.28 trillion as of October 31, 2022. This marks a rise from $1.23 trillion at the end of September 2022 but a decline from $1.688 trillion year-over-year. In October 2022, client transfers from mutual funds amounted to $0.7 billion and totaled $11.0 billion year-to-date. Notably, $0.6 billion of the October transfers were directed to target date retirement trusts, contributing to the overall asset movement.

T. Rowe Price Group, Inc. (TROW) declared a quarterly dividend of $1.20 per share, scheduled for payment on December 29, 2022. Stockholders must be on record by December 16, 2022 to receive the dividend. As of September 30, 2022, T. Rowe Price managed assets worth $1.23 trillion. This announcement reflects the company’s commitment to returning value to shareholders and underscores its financial stability and growth potential.

T. Rowe Price Group, Inc. (TROW) reported its third-quarter 2022 financial results, revealing $1.23 trillion in assets under management as of September 30, 2022. The company offers a wide range of investment services, including mutual funds and advisory services, catering to individual and institutional investors. The firm is recognized for its disciplined, risk-aware investment strategies that emphasize diversification and fundamental research. Detailed earnings can be accessed on their website.

T. Rowe Price has launched the U.S. High Yield ETF (Ticker: THYF), its fourth actively managed fixed income ETF, now trading on NYSE Arca. This ETF focuses on U.S. high yield corporate bonds, aiming for total return and current income. Managed by Kevin Loome, the ETF has a net expense ratio of 0.56%. This addition expands T. Rowe Price's active ETF offerings to nine, complementing its mutual fund lineup. The firm plans to introduce more ETFs, enhancing its range of strategies available for investors.

In 2022, amid significant market volatility, T. Rowe Price's target date investors exhibited remarkable stability, with only 0.2% changing asset allocations. This contrasts sharply with 6.4% of non-target date investors making adjustments. The firm's target date strategies, which manage $311 billion in assets, have been crucial for helping investors maintain long-term investment plans during market downturns. These portfolios have grown significantly, with ownership rising from 26% in 2007 to 60% by the end of 2019. The performance of T. Rowe Price's original target date funds has consistently outperformed benchmarks, demonstrating their effectiveness over the last 20 years.

T. Rowe Price has launched Waysaver™, an automatic savings app aimed at enhancing employee retirement readiness by helping them establish emergency savings funds easily. The app, powered by Galileo Financial Technologies, allows employees to save securely at an FDIC-insured bank, addressing the financial strain that emergencies can cause. Current data indicates that 45% of individuals resort to credit cards for emergencies due to insufficient savings. This initiative complements T. Rowe Price's efforts to offer comprehensive financial wellness solutions, following previous enhancements like student loan debt solutions.

T. Rowe Price Group reported preliminary assets under management of $1.23 trillion as of September 30, 2022. However, the firm experienced preliminary net outflows of $24.6 billion for the third quarter, leading to a total year-to-date net outflow of $44.6 billion. Notable client transfers included $10.3 billion year-to-date, with significant amounts moving to target date retirement trusts. The numbers reflect a broader trend of decreasing assets compared to prior months and the previous year.