T. Rowe Price Group, Inc. (TROW - Free Report) announced its preliminary assets under management (AUM) for August 2023. The company’s month-end AUM of $1.40 trillion reflected a 2.2% decrease from the previous month, affected by unfavorable market conditions.
TROW experienced net outflows of $7.8 billion in August 2023.
At the end of the reported month, equity products and multi-asset products aggregated $730 billion and $457 billion, down 2.9% and 2.1%, respectively, on a sequential basis. T. Rowe Price registered $384 billion in target date retirement portfolios in August, which declined 2% from the prior month.
Nevertheless, alternative products of $46 billion were up 2.2% sequentially. Fixed-income products, including the money market, constituted $169 billion. This remains unchanged from the previous 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 are likely to hurt its revenues. Additionally, rising expenses could impede bottom-line expansion.
Over the past six months, shares of T. Rowe Price have gained 2.3% compared with the industry’s upside of 16.6%.
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 $80 billion as of Aug 31, 2023, which reflected a decline of 2.8% from the prior-month level. Market depreciation of $2.2 billion and distributions of $157 million were partly offset by net inflows of $12 million.
CNS recorded total institutional accounts of $33.5 billion at the end of August 2023, declining 2.7% from the July-end level. Of the total institutional accounts, advisory accounts were $19 billion while the rest were sub-advisory.
Virtus Investment Partners, Inc. (VRTS - Free Report) recorded a sequential decrease in its preliminary AUM balance for August 2023 on the back of unfavorable market returns. The company reported month-end AUM of $169.4 billion, which reflected a fall of 1.5% from the Jul 31 level.
Excluded from the above-mentioned AUM balance, other fee-earning assets were $2.6 billion, to which Virtus Investment provided services.
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T. Rowe Price Group, Inc. (TROW - Free Report) announced its preliminary assets under management (AUM) for August 2023. The company’s month-end AUM of $1.40 trillion reflected a 2.2% decrease from the previous month, affected by unfavorable market conditions.
TROW experienced net outflows of $7.8 billion in August 2023.
At the end of the reported month, equity products and multi-asset products aggregated $730 billion and $457 billion, down 2.9% and 2.1%, respectively, on a sequential basis. T. Rowe Price registered $384 billion in target date retirement portfolios in August, which declined 2% from the prior month.
Nevertheless, alternative products of $46 billion were up 2.2% sequentially. Fixed-income products, including the money market, constituted $169 billion. This remains unchanged from the previous 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 are likely to hurt its revenues. Additionally, rising expenses could impede bottom-line expansion.
Over the past six months, shares of T. Rowe Price have gained 2.3% compared with the industry’s upside of 16.6%.
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 $80 billion as of Aug 31, 2023, which reflected a decline of 2.8% from the prior-month level. Market depreciation of $2.2 billion and distributions of $157 million were partly offset by net inflows of $12 million.
CNS recorded total institutional accounts of $33.5 billion at the end of August 2023, declining 2.7% from the July-end level. Of the total institutional accounts, advisory accounts were $19 billion while the rest were sub-advisory.
Virtus Investment Partners, Inc. (VRTS - Free Report) recorded a sequential decrease in its preliminary AUM balance for August 2023 on the back of unfavorable market returns. The company reported month-end AUM of $169.4 billion, which reflected a fall of 1.5% from the Jul 31 level.
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.
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