T. ROWE PRICE GROUP REPORTS PRELIMINARY MONTH-END ASSETS UNDER MANAGEMENT FOR APRIL 2024

(Neutral)

Rhea-AI Summary

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.

Positive

None.

Negative

Net outflows of $7.8 billion in April 2024 indicate a decrease in assets under management, potentially impacting the company's revenue and financial performance negatively.

News Market Reaction – TROW

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In the trading session that priced this news, TROW gained 0.27%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

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05/10/2024 - 08:30 AM

BALTIMORE, May 10, 2024 /PRNewswire/ -- T. Rowe Price Group, Inc. (NASDAQ-GS: TROW), today reported preliminary month-end assets under management of $1.48 trillion as of April 30, 2024. Preliminary net outflows for April 2024 were $7.8 billion.

The below table shows the firm's assets under management as of April 30, 2024, and for the prior quarter- and year-end by asset class and in the firm's target date retirement portfolios.

	As of
	Preliminary^(a)
(in billions)	4/30/2024	3/31/2024	12/31/2023

Equity	$ 762	$ 803	$ 744
Fixed income, including money market	169	171	170
Multi-asset	506	520	483
Alternatives	48	48	48
Total assets under management	$ 1,485	$ 1,542	$ 1,445

Target date retirement products

$ 432

$ 443

$ 408

^{(a) Preliminary - subject to adjustment}

About T. Rowe Price

Founded in 1937, T. Rowe Price (NASDAQ – GS: TROW) helps individuals and institutions around the world achieve their long-term investment goals. As a large global asset management company known for investment excellence, retirement leadership, and independent proprietary research, the firm is built on a culture of integrity that puts client interests first. Clients rely on the award-winning firm for its retirement expertise and active management of equity, fixed income, alternatives, and multi-asset investment capabilities. T. Rowe Price has $1.48 trillion in assets under management as of April 30, 2024, and serves millions of clients globally. News and other updates can be found on Facebook, Instagram, LinkedIn, X, YouTube, and troweprice.com/newsroom.

View original content:https://www.prnewswire.com/news-releases/t-rowe-price-group-reports-preliminary-month-end-assets-under-management-for-april-2024-302141944.html