T Rowe Price Grp Stock Price, News & Analysis

T. Rowe Price Group reported its financial results for Q2 2022, with assets under management reaching $1.31 trillion as of June 30, 2022. The firm offers a wide range of investment services including mutual funds and retirement plans. Their disciplined investment strategy focuses on diversification and fundamental research, catering to individual and institutional investors. The complete earnings release is available on their website.

T. Rowe Price has appointed Meenu Annamalai and Jessica Sclafani to enhance its Americas institutional defined contribution investment business. Annamalai, with over 18 years of experience, will manage DC plan sponsor clients in the West and Central U.S., while Sclafani will lead the DC research and strategy initiatives. These hires reflect T. Rowe Price's commitment to strengthening its position in the retirement market, where retirement assets account for approximately two-thirds of its $1.31 trillion in assets under management.

T. Rowe Price published research indicating that financial stress significantly impacts retirement savings. The findings show that participants stressed about debt save less for retirement. Young workers (under 30) report higher budgeting stress (73%) compared to older workers (40%). Women experience 26% more financial stress, notably regarding debt and healthcare. Black and Hispanic workers face 34% and 40% more debt-related stress, respectively. Early retirement savers score better on T. Rowe Price’s Retirement Behavior Index, underscoring the importance of financial wellness programs in enhancing retirement outcomes.

T. Rowe Price Group reported preliminary assets under management of $1.31 trillion as of June 30, 2022. In June, client transfers from mutual funds amounted to $1.2 billion, totaling $2.9 billion for the quarter, and $7.0 billion year-to-date. Significant transfers included $1.0 billion to target date retirement trusts. The report highlights a decline in assets under management in various segments, with equity funds decreasing from $424 billion in May to $391 billion in June.

T. Rowe Price announced the promotions of Lauren Bloom to Head of Canada and Samantha Cleyn to Head of Institutional for Canada, effective July 6, 2022. Bloom will lead the distribution strategy, reporting to Chris Newman, while Cleyn expands her responsibilities nationwide. Since 2018, Bloom has significantly grown the firm’s Canadian distribution, managing over $22.9 billion CAD as of May 31, 2022. Cleyn, previously Head of Eastern Canada, has over 15 years of experience with institutional clients. These changes follow a strategic review after Bruce Winch's retirement on March 1, 2022.

On June 13, 2022, T. Rowe Price shared expert tips for retirement savers amidst ongoing market volatility due to a global crisis. The firm emphasizes that predicting short-term market movements is challenging and advises investors to adhere to long-term plans. Key strategies include ensuring proper asset allocation, diversifying investments, and automating investment decisions to reduce stress. With $1.40 trillion in assets under management as of May 31, 2022, T. Rowe Price aims to help clients manage short-term uncertainties while focusing on long-term growth for a comfortable retirement.

T. Rowe Price Group (TROW) reported preliminary assets under management of $1.40 trillion as of May 31, 2022. Notably, client transfers from mutual funds to other portfolios were minimal, totaling $1.7 billion for the quarter-to-date and $5.8 billion year-to-date. The firm highlighted that out of these transfers, $0.6 billion and $3.9 billion were allocated to target date retirement trusts. This performance indicates a stable client base despite market fluctuations and underscores the firm’s strategic asset management approach.

T. Rowe Price published findings from its Defined Contribution Consultant Research Study, surveying 32 DC consultants serving over 33,000 plan sponsor clients with nearly $7.2 trillion in assets. Key insights include a shift towards ESG investments, with 40% preferring active strategies, and an emphasis on target date solutions that combine active and passive management. Notably, 76% of consultants noted increasing interest in financial wellness programs, yet less than 25% currently offer emergency savings options. The study highlights evolving trends in retirement planning amid changes prompted by COVID-19.