T Rowe Price Grp Stock Price, News & Analysis

T. Rowe Price Group, Inc. (TROW) reported its third quarter 2021 financial results on October 28, 2021. The company, based in Baltimore, manages $1.61 trillion in assets as of September 30, 2021. T. Rowe Price offers a variety of mutual funds, subadvisory services, and separate account management for different investor types. The firm emphasizes a disciplined investment approach focused on diversification and fundamental research. More details are available in the earnings release on their official website.

T. Rowe Price Group (TROW) has entered into a definitive agreement to acquire Oak Hill Advisors (OHA) for up to $4.2 billion. The deal includes $3.3 billion payable at closing, consisting of 74% in cash and 26% in stock, with an additional $900 million contingent on future performance. OHA, managing $53 billion in assets, will enhance T. Rowe Price’s alternative investment capabilities and is expected to positively impact diluted earnings per share in 2022. The transaction aims to leverage scale in alternative credit markets, with closing anticipated in late Q4 2021.

T. Rowe Price Group reported preliminary month-end assets under management of $1.61 trillion as of September 30, 2021. Client transfers totaled $1.2 billion for September and $3.6 billion for the quarter, bringing year-to-date transfers to $18.4 billion. The firm noted significant transfers to target-date retirement trusts, amounting to $12.7 billion year-to-date. The breakdown by investment vehicle indicates a decrease in U.S. mutual fund equity from $573 billion in August to $546 billion in September.

T. Rowe Price Group (NASDAQ-GS: TROW) announces the hiring of Theresa McLaughlin as head of Global Marketing, effective October 25, 2021. McLaughlin brings over 25 years of experience in the financial industry, having previously served as global chief marketing officer for State Street Corporation. Her role will focus on developing marketing campaigns, brand strategy, and enhancing client experiences. With $1.68 trillion in assets under management, T. Rowe Price continues to pursue growth through strategic marketing initiatives.

T. Rowe Price announced the launch of its new podcast, "Confident Conversations on Retirement", aimed at helping investors make informed financial decisions regarding retirement. The series features T. Rowe Price experts discussing retirement-related topics, such as saving for healthcare. The podcast aims to build confidence among retirement savers, as indicated by findings from their annual Retirement Saving and Spending study. The first three episodes are now available on major platforms, with a total of 15 episodes planned for the season.

T. Rowe Price Group (TROW) reported preliminary assets under management of $1.68 trillion as of August 31, 2021. The firm experienced client transfers from mutual funds totaling $2.1 billion in August 2021, bringing year-to-date transfers to $17.2 billion. Among these, $12.3 billion was specifically transferred to target-date retirement trusts. The firm continues to provide diverse investment offerings including mutual funds and separate accounts, maintaining a focus on disciplined investment approaches.

T. Rowe Price Group (TROW) reported preliminary assets under management of $1.64 trillion as of July 31, 2021. In July, client transfers from mutual funds totaled $0.3 billion, with $15.1 billion year-to-date. Of these, $0.2 billion and $11.0 billion were transferred to target-date retirement trusts, reflecting a strategic shift. Despite these movements, total assets increased by $13 billion compared to the previous month. The firm continues to focus on investment management, offering mutual funds and separate accounts for a diverse range of investors.

T. Rowe Price Group announced a quarterly dividend of $1.08 per share, payable on September 29, 2021. This dividend is designated for stockholders of record as of September 15, 2021. As of June 30, 2021, T. Rowe Price managed $1.62 trillion in assets, emphasizing a disciplined investment strategy focused on diversification and fundamental research.

T. Rowe Price Group (TROW) announced the retirement of CEO Bill Stromberg effective December 31, 2021, after 35 years with the firm. Rob Sharps, current President and CIO, will succeed him starting January 1, 2022. The transition follows a planned succession strategy, with Sharps recognized for his strategic thinking and leadership. Additionally, CFO Céline Dufétel is stepping down on July 31, 2021, with Jen Dardis taking over. The company remains well-positioned for growth, with $1.62 trillion in assets under management as of June 30, 2021.