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T. Rowe Price (TROW) Reports 2.8% Sequential Gain in April AUM
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T. Rowe Price Group, Inc. (TROW - Free Report) has announced preliminary assets under management (AUM) of $1.11 trillion for April 2019. Results reflect nearly 2.8% improvement from the $1.08 trillion recorded on Mar 31, 2019.
Client transfers from mutual funds to other portfolios, including trusts and separate accounts, were $2.4 billion in April.
Month-end total sponsored U.S. mutual funds came in at $646 billion, up 2.4% from March 2019. Of the total sponsored U.S. mutual funds, around 81% was from stock and blended assets, while the remaining came in from fixed income and money market.
Total other investment portfolios were $468 billion, reflecting an increase of 3.8% from the previous month. Overall, stock and blended assets accounted for $364 billion or 78% of other investment portfolios, while money market and fixed income came in at $104 billion or 22%.
T. Rowe Price recorded $265 billion in target date retirement portfolios, up 2.7% from $258 billion recorded in the previous month.
Our Viewpoint
Although regulatory restrictions and sluggish economic recovery will likely impair the company’s growth and escalate costs, T. Rowe Price’s diverse and efficient business model is anticipated help it improve its AUM. Also, its organic growth remains impressive, as indicated by the continued growth in revenues.
So, we believe, driven by these, the stock has gained 8.5% in the past three months compared with 5.4% growth recorded by the industry.
Among other investment managers, Cohen & Steers (CNS - Free Report) reported preliminary AUM of $63.1 billion as of Apr 30, 2019, around up 1% from the prior-month level. Market appreciation of $178 million and net inflows of $428million, partly offset by distributions of $195 million, drove this upswing.
Invesco (IVZ - Free Report) also announced its AUM for April. The company’s preliminary month-end AUM of $975.2 billion increased 2.1% from the prior month. This growth was primarily driven by favorable market returns, increase in money market AUM, non-management fee earning AUM inflows, net long-term inflows and reinvested distributions. However, unfavorable foreign-exchange movement brought down the month’s AUM by $0.4 billion.
Franklin Resources (BEN - Free Report) reported preliminary AUM by its subsidiaries of $720.5 billion for April. Results display 1.2% growth from the $712.3 billion recorded as of Mar 31, 2019. Net market gains, partially offset by net outflows, led to this upside. However, the figure dipped 1.6% from the previous year.
Zacks' Top 10 Stocks for 2019
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-holds for the year?
Who wouldn't? Our annual Top 10s have beaten the market with amazing regularity. In 2018, while the market dropped -5.2%, the portfolio scored well into double-digits overall with individual stocks rising as high as +61.5%. And from 2012-2017, while the market boomed +126.3, Zacks' Top 10s reached an even more sensational +181.9%.
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T. Rowe Price (TROW) Reports 2.8% Sequential Gain in April AUM
T. Rowe Price Group, Inc. (TROW - Free Report) has announced preliminary assets under management (AUM) of $1.11 trillion for April 2019. Results reflect nearly 2.8% improvement from the $1.08 trillion recorded on Mar 31, 2019.
Client transfers from mutual funds to other portfolios, including trusts and separate accounts, were $2.4 billion in April.
Month-end total sponsored U.S. mutual funds came in at $646 billion, up 2.4% from March 2019. Of the total sponsored U.S. mutual funds, around 81% was from stock and blended assets, while the remaining came in from fixed income and money market.
Total other investment portfolios were $468 billion, reflecting an increase of 3.8% from the previous month. Overall, stock and blended assets accounted for $364 billion or 78% of other investment portfolios, while money market and fixed income came in at $104 billion or 22%.
T. Rowe Price recorded $265 billion in target date retirement portfolios, up 2.7% from $258 billion recorded in the previous month.
Our Viewpoint
Although regulatory restrictions and sluggish economic recovery will likely impair the company’s growth and escalate costs, T. Rowe Price’s diverse and efficient business model is anticipated help it improve its AUM. Also, its organic growth remains impressive, as indicated by the continued growth in revenues.
So, we believe, driven by these, the stock has gained 8.5% in the past three months compared with 5.4% growth recorded by the industry.
T. Rowe currently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Competitive Landscape
Among other investment managers, Cohen & Steers (CNS - Free Report) reported preliminary AUM of $63.1 billion as of Apr 30, 2019, around up 1% from the prior-month level. Market appreciation of $178 million and net inflows of $428million, partly offset by distributions of $195 million, drove this upswing.
Invesco (IVZ - Free Report) also announced its AUM for April. The company’s preliminary month-end AUM of $975.2 billion increased 2.1% from the prior month. This growth was primarily driven by favorable market returns, increase in money market AUM, non-management fee earning AUM inflows, net long-term inflows and reinvested distributions. However, unfavorable foreign-exchange movement brought down the month’s AUM by $0.4 billion.
Franklin Resources (BEN - Free Report) reported preliminary AUM by its subsidiaries of $720.5 billion for April. Results display 1.2% growth from the $712.3 billion recorded as of Mar 31, 2019. Net market gains, partially offset by net outflows, led to this upside. However, the figure dipped 1.6% from the previous year.
Zacks' Top 10 Stocks for 2019
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-holds for the year?
Who wouldn't? Our annual Top 10s have beaten the market with amazing regularity. In 2018, while the market dropped -5.2%, the portfolio scored well into double-digits overall with individual stocks rising as high as +61.5%. And from 2012-2017, while the market boomed +126.3, Zacks' Top 10s reached an even more sensational +181.9%.
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