T. Rowe Price Group, Inc. (TROW) said its Executive Compensation and Management Development Committee amended the 2020 Long-Term Incentive Plan and related grant notices at its meeting on November 4, 2026. The changes allow continued vesting of plan awards for employees following certain involuntary terminations, and the revised notices add new vesting provisions for award grants.
T. Rowe Price Group reported third-quarter 2026 net revenue of $2,004.9 million, up 5.9% year over year, as average assets under management rose 9.5% to $1,887.2 billion. Net income attributable to the company was $612.3 million, down 5.2%, and diluted earnings per share were $2.79 versus $2.87. Net operating income rose 19.7% to $769.8 million, while lower non-operating income weighed on net income.
Assets under management ended September 30, 2026 at $1,862.7 billion, down $30.7 billion from June 30, as $28.3 billion of net cash outflows and $2.4 billion of market depreciation, net of distributions not reinvested, drove the quarterly decrease. For the nine months ended September 30, 2026, net revenue grew 7.2% to $5,769.3 million and net income attributable to the company increased 6.1% to $1,742.5 million.
In August, the company agreed to acquire F/m Investments, LLC, a deal expected to expand fixed income ETF and SMA capabilities. Closing is expected in the first quarter of 2027, subject to required regulatory approvals and other customary closing conditions.
T. Rowe Price Group, Inc. (TROW) reported third-quarter 2026 net revenues of $2,004.9 million, up 5.9% year over year, and net operating income of $769.8 million, up 19.7%. Net income attributable to the company was $612.3 million, down 5.2%; diluted EPS was $2.79, versus $2.87. Adjusted diluted EPS was $2.86, up 1.8% from $2.81.
Ending AUM was $1,862.7 billion as of September 30, 2026, down $30.7 billion during the quarter, with net client outflows of $28.3 billion. Average AUM was $1,887.2 billion, up 9.5% year over year. The annualized effective fee rate excluding performance-based fees was 37.8 basis points, versus 39.1 basis points in Q3 2025; client flows and transfers drove a mix shift toward lower-fee products and asset classes, partly offset by equity market appreciation.
U.S. GAAP operating expenses were $1,235.1 million, down 1.2% year over year, while adjusted operating expenses were $1,200.1 million, up 5.8%. The company estimated a full-year 2026 effective income tax rate in the range of 23.5% to 25.5% on both U.S. GAAP and adjusted bases. Q3 investment gains were lower than in prior periods, primarily due to fixed-income losses resulting from rising interest rates.
Price T. Rowe Group Inc. director Robert F. MacLellan exercised 4,417 stock options on October 27, 2026, at an exercise price of $62.8458 per share, acquiring 4,417 common shares. The option entry records 4,417 options disposed of in the exercise, while the common-stock entry records the 4,417 shares acquired. His reported direct common-share holding following the transaction was 60,337 shares.
Sandra S. Wijnberg, a director of T. Rowe Price Group Inc., acquired 164 fully vested dividend reinvestment shares on September 29, 2026, under the 2017 Non-Employee Director Equity Plan. The reported price was $104.51 per share, and her directly held position after the transaction was 32,187 shares. No Rule 10b5-1 plan is reported.
Alan D. Wilson, a director of T. Rowe Price Group, Inc. (TROW), acquired 520 shares of common stock on September 29, 2026, through dividend-related credits under the 2017 Non-Employee Director Equity Plan. The reported transaction price was $104.5100 per share. A portion was credited as fully vested dividend reinvestment shares, and a portion will accrue and vest when the corresponding grant vests. Wilson directly held 42,338 shares after the transaction.
T. Rowe Price Group Inc. director Richard R. Verma acquired 61 shares of common stock on September 29, 2026, in a dividend-related award under the 2017 Non-Employee Director Equity Plan. His reported directly held balance after the transaction was 4,951 shares.
TROW director Robert J. Stevens acquired 314 shares of common stock on September 29, 2026, through dividend-related credits under the 2017 Non-Employee Director Equity Plan. The transaction row lists a per-share price of $104.5100. His directly held common-stock balance following the transaction was 25,560 shares. A portion were credited as fully vested dividend reinvestment shares, while a portion will accrue and vest when the corresponding grant vests.
T. Rowe Price Group Inc. (TROW) director Cynthia F. Smith reported acquiring 77 common shares on September 29, 2026, under the 2017 Non-Employee Director Equity Plan in connection with dividends declared on the issuer’s common stock. The transaction lists a per-share price of $104.51. A portion of the shares were credited as fully vested dividend reinvestment shares, and a portion will accrue and vest when the corresponding grant vests. Smith reported direct holdings of 8,776 shares after the transaction.
Allan C. Golston, a director of T. Rowe Price Group Inc. (TROW), reported acquiring 61 common shares through an award on September 29, 2026. The award was made under the 2017 Non-Employee Director Equity Plan in connection with dividends declared on common stock; those dividends accrue and vest when the corresponding grant vests. His reported direct common-stock holdings following the transaction were 4,951 shares.