T Rowe Price Grp Stock Price, News & Analysis

T. Rowe Price Group has joined the Net Zero Asset Managers initiative to support achieving net zero greenhouse gas emissions by 2050 or sooner. The firm's CEO, Rob Sharps, highlighted the increasing demand for investment products aligned with net zero targets among clients. By establishing a net zero product range, T. Rowe Price aims to promote industry standards for transparency in investments. The firm manages US$1.55 trillion in assets, focusing on diversified and risk-aware investment strategies.

T. Rowe Price announced the launch of the second season of its podcast, CONFIDENT CONVERSATIONS^TM on Retirement, aimed at helping investors make informed financial decisions for retirement. The season features 15 episodes, focusing on diverse retirement topics, including strategies for LGBT+ investors and bridging the racial retirement savings gap. Hosted by Christine Akins, the first two episodes, 'Why You Should Pay Yourself First' and 'How Social Security Works', are now available on major podcast platforms. As of March 31, 2022, T. Rowe Price manages $1.55 trillion in assets.

T. Rowe Price released its annual 401(k) benchmarking report, indicating a resilient post-pandemic recovery in retirement savings behaviors. Key findings show participation in plans rose to 68% in 2021, with average employee deferrals climbing to 8.5%. The report highlights a 57% increase in Roth deferrals since 2018, and plans with auto-enrollment and auto-increase achieve significantly higher participation rates. Market growth has also led to an 8% increase in average account balances, reaching $123,500.

T. Rowe Price Group (TROW) announced its financial results for Q1 2022, managing $1.55 trillion in assets as of March 31, 2022. The firm provides a diverse range of investment services to both individual and institutional investors. The earnings release is available on their website for detailed financial metrics.

T. Rowe Price released research showing the significant impact of employer-sponsored retirement plans on employee participation and savings. While only about half of workers participate in retirement plans, participation rises to 88.2% when offered by employers. The analysis highlights disparities in participation rates among racial groups, with nearly 60% of white workers participating versus 40% of Black and 30% of Hispanic workers. The firm emphasizes the need for improved access and plan design features like auto-enrollment to enhance participation and financial wellness.

T. Rowe Price Group reported preliminary month-end assets under management of $1.55 trillion as of March 31, 2022. Client transfers from mutual funds to other portfolios totaled $0.5 billion in March and $4.1 billion for the quarter. Notably, $0.5 billion and $3.3 billion were transferred to target date retirement trusts in March and for the quarter respectively. The total assets under management decreased from $1.688 trillion at the end of December 2021 and $1.540 trillion at the end of February 2022, indicating a slight decline.

T. Rowe Price Group, Inc. (NASDAQ-GS: TROW) announced Kimberly Johnson as the new Chief Operating Officer (COO), effective April 29, 2022. Reporting to CEO Rob Sharps, Johnson will oversee various global operations including technology and client services. Previously, she was COO at Fannie Mae, managing a $1.4 billion budget and leading digital transformation initiatives. Johnson holds degrees from Princeton and Columbia, and serves on the board of Eli Lilly. T. Rowe Price, founded in 1937, manages $1.54 trillion in assets as of February 28, 2022.

T. Rowe Price was awarded the 2022 Best Overall Large U.S. Fund Management Group by Refinitiv Lipper, recognizing its strong risk-adjusted performance across various fund categories. This accolade, announced on March 10, 2022, is complemented by 24 awards for 21 funds that showcased consistent performance over 3, 5, and 10 years. The awards span categories including Corporate Debt BBB-Rated, Financial Services, and Global Multi-Cap Growth. The firm manages approximately $1.54 trillion in assets as of February 28, 2022.