T. Rowe Price Group, Inc. (TROW - Free Report) announced its preliminary assets under management (AUM) for July 2023. The company’s month-end AUM of $1.43 trillion represented a 2.4% increase from the previous month on the back of favorable market conditions.
TROW experienced net outflows of $5.4 billion in July 2023.
At the end of the reported month, equity products and multi-asset products aggregated $752 billion and $467 billion, up 2.7% and 3.1%, respectively, on a sequential basis.
Alternative products of $45 billion remained flat sequentially. Fixed-income products, including the money market, constituted $169 billion. This also stayed unchanged from the previous month.
Nevertheless, T. Rowe Price registered $392 billion in target date retirement portfolios in July, which rose 3.2% from the prior month.
A diversified business model, focus on enhancing investment capabilities, broadening distribution reach and improving client partnerships are expected to aid TROW’s long-term growth.
However, increased dependence on investment advisory fees is concerning, as market fluctuations and a sudden slowdown in overall business activities might hurt its revenues. Additionally, rising expenses might hinder bottom-line growth.
Over the past three months, shares of T. Rowe Price have gained 8% compared with the industry’s growth of 13.5%.
T. Rowe Price currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Competitive Landscape
Cohen & Steers, Inc. (CNS - Free Report) reported a preliminary AUM of $82.3 billion as of Jul 31, 2023, which reflected a jump of 2.4% from the prior-month level. Market appreciation of $1.86 billion and net inflows of $231 million supported the rise. However, it was partially offset by distributions of $162 million.
CNS recorded total institutional accounts of $34.43 billion at the end of July 2023, rising 3.5% from the June-end level. Of the total institutional accounts, advisory accounts were $19.53 billion while the rest were sub-advisory.
Virtus Investment Partners, Inc. (VRTS - Free Report) recorded a sequential increase in its preliminary AUM balance for July 2023, driven by favorable market returns. The company reported a month-end AUM of $171.9 billion, which reflected a rise of 2.1% from Jun 30.
Excluded from the above-mentioned AUM balance, other fee-earning assets were $2.6 billion, to which Virtus Investment provided services.
4 Oil Stocks with Massive Upsides
Global demand for oil is through the roof... and oil producers are struggling to keep up. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
Zacks Investment Research has just released an urgent special report to help you bank on this trend.
In Oil Market on Fire, you'll discover 4 unexpected oil and gas stocks positioned for big gains in the coming weeks and months. You don't want to miss these recommendations.
Download your free report now to see them.
T. Rowe Price Group, Inc. (TROW - Free Report) announced its preliminary assets under management (AUM) for July 2023. The company’s month-end AUM of $1.43 trillion represented a 2.4% increase from the previous month on the back of favorable market conditions.
TROW experienced net outflows of $5.4 billion in July 2023.
At the end of the reported month, equity products and multi-asset products aggregated $752 billion and $467 billion, up 2.7% and 3.1%, respectively, on a sequential basis.
Alternative products of $45 billion remained flat sequentially. Fixed-income products, including the money market, constituted $169 billion. This also stayed unchanged from the previous month.
Nevertheless, T. Rowe Price registered $392 billion in target date retirement portfolios in July, which rose 3.2% from the prior month.
A diversified business model, focus on enhancing investment capabilities, broadening distribution reach and improving client partnerships are expected to aid TROW’s long-term growth.
However, increased dependence on investment advisory fees is concerning, as market fluctuations and a sudden slowdown in overall business activities might hurt its revenues. Additionally, rising expenses might hinder bottom-line growth.
Over the past three months, shares of T. Rowe Price have gained 8% compared with the industry’s growth of 13.5%.
T. Rowe Price currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Competitive Landscape
Cohen & Steers, Inc. (CNS - Free Report) reported a preliminary AUM of $82.3 billion as of Jul 31, 2023, which reflected a jump of 2.4% from the prior-month level. Market appreciation of $1.86 billion and net inflows of $231 million supported the rise. However, it was partially offset by distributions of $162 million.
CNS recorded total institutional accounts of $34.43 billion at the end of July 2023, rising 3.5% from the June-end level. Of the total institutional accounts, advisory accounts were $19.53 billion while the rest were sub-advisory.
Virtus Investment Partners, Inc. (VRTS - Free Report) recorded a sequential increase in its preliminary AUM balance for July 2023, driven by favorable market returns. The company reported a month-end AUM of $171.9 billion, which reflected a rise of 2.1% from Jun 30.
Excluded from the above-mentioned AUM balance, other fee-earning assets were $2.6 billion, to which Virtus Investment provided services.
4 Oil Stocks with Massive Upsides
Global demand for oil is through the roof... and oil producers are struggling to keep up. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
Zacks Investment Research has just released an urgent special report to help you bank on this trend.
In Oil Market on Fire, you'll discover 4 unexpected oil and gas stocks positioned for big gains in the coming weeks and months. You don't want to miss these recommendations.
Download your free report now to see them.
Get the latest research report on TROW - FREE
Get the latest research report on VRTS - FREE
Get the latest research report on CNS - FREE