T. Rowe Price Group, Inc. (TROW - Free Report) announced its preliminary assets under management (AUM) of $1.31 trillion for October 2023. The figure reflected a 2.5% decline from the previous month, affected by unfavorable market conditions.
TROW experienced net outflows of $6.3 billion in October 2023.
At the end of the reported month, equity products and multi-asset products aggregated $668 billion and $429 billion, down 3.2% and 2.5%, respectively, on a sequential basis. T. Rowe Price registered $364 billion in target date retirement portfolios in October, which declined 2.2% from the prior month. Fixed-income products, including the money market, constituted $168 billion, down 1% sequentially.
Alternative products of $47 billion were flat on a sequential basis.
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 declined 12.9% against the industry’s growth of 8.9%.
T. Rowe Price currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Competitive Landscape
Franklin Resources, Inc. (BEN - Free Report) reported a preliminary AUM balance of $1.33 trillion for October 2023. This reflected a 2.9% decrease from $1.37 trillion as of Sep 30. The downtick was primarily caused by the impacts of negative markets and long-term net outflows.
Total month-end fixed-income assets were $468.9 billion, down 2.9% from the prior month’s level. Equity assets of $410.9 billion fell 4.5% from September 2023. BEN recorded $140.8 billion in multi-asset class, down 2.9% sequentially. Alternative assets aggregated $253.8 billion, down marginally from the prior month.
Victory Capital Holdings (VCTR - Free Report) reported AUM of $148.89 billion for October 2023. This reflected a 3% decline from $153.51 billion as of Sep 30, 2023.
By asset classes, at the end of October, VCTR’s U.S. Mid Cap Equity AUM fell 4.5% from the September level to $26.97 billion. The U.S. Small Cap Equity AUM of $13.64 billion dipped 6.9%. The U.S. Large Cap Equity AUM decreased 2.7% to $11.28 billion. The Global/Non-U.S. Equity AUM was down 2.2% to $14.48 billion.
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T. Rowe Price Group, Inc. (TROW - Free Report) announced its preliminary assets under management (AUM) of $1.31 trillion for October 2023. The figure reflected a 2.5% decline from the previous month, affected by unfavorable market conditions.
TROW experienced net outflows of $6.3 billion in October 2023.
At the end of the reported month, equity products and multi-asset products aggregated $668 billion and $429 billion, down 3.2% and 2.5%, respectively, on a sequential basis. T. Rowe Price registered $364 billion in target date retirement portfolios in October, which declined 2.2% from the prior month. Fixed-income products, including the money market, constituted $168 billion, down 1% sequentially.
Alternative products of $47 billion were flat on a sequential basis.
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 declined 12.9% against the industry’s growth of 8.9%.
T. Rowe Price currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Competitive Landscape
Franklin Resources, Inc. (BEN - Free Report) reported a preliminary AUM balance of $1.33 trillion for October 2023. This reflected a 2.9% decrease from $1.37 trillion as of Sep 30. The downtick was primarily caused by the impacts of negative markets and long-term net outflows.
Total month-end fixed-income assets were $468.9 billion, down 2.9% from the prior month’s level. Equity assets of $410.9 billion fell 4.5% from September 2023. BEN recorded $140.8 billion in multi-asset class, down 2.9% sequentially. Alternative assets aggregated $253.8 billion, down marginally from the prior month.
Victory Capital Holdings (VCTR - Free Report) reported AUM of $148.89 billion for October 2023. This reflected a 3% decline from $153.51 billion as of Sep 30, 2023.
By asset classes, at the end of October, VCTR’s U.S. Mid Cap Equity AUM fell 4.5% from the September level to $26.97 billion. The U.S. Small Cap Equity AUM of $13.64 billion dipped 6.9%. The U.S. Large Cap Equity AUM decreased 2.7% to $11.28 billion. The Global/Non-U.S. Equity AUM was down 2.2% to $14.48 billion.
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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