T. Rowe Price Group, Inc. (TROW - Free Report) announced its preliminary assets under management (AUM) of $1.50 trillion for February 2024. The figure reflected a 3.9% rise from last month.
TROW experienced net outflows of $2 billion in February 2024.
At the end of the reported month, equity products and multi-asset products aggregated $785 billion and $504 billion, rising 5.1% and 3.7%, respectively, on a sequential basis. Alternative products of $48 billion increased 2.1% on a sequential basis. T. Rowe Price registered $428 billion in target date retirement portfolios in February, which grew 4.1% from the prior month.
However, fixed-income products, including the money market, constituted $169 billion, down marginally from the January-end level.
A diversified business model, focus on enhancing investment capabilities, broadening distribution reach and investing in new product offerings are expected to aid TROW’s long-term growth.
However, the company’s overdependence on investment advisory fees is concerning. This is because market fluctuations and a sudden slowdown in overall business activities are likely to hurt its revenues. Additionally, a rising cost base could impede its bottom-line growth.
Over the past three months, shares of T. Rowe Price have gained 10.1% compared with the industry’s growth of 8.2%.
TROW currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Competitive Landscape
Victory Capital Holdings, Inc. (VCTR - Free Report) reported an AUM of $164.9 billion for February 2024. This reflected a 2.9% rise from $160.2 billion as of Jan 31, 2024.
By asset class, VCTR’s U.S. Mid Cap Equity AUM grew 4.4% from January to $31.3 billion. The U.S. Small Cap Equity AUM of $15.7 billion increased 3%. The Global/Non-U.S. Equity AUM rose 3.4% to $17.1 billion. The U.S. Large Cap Equity AUM improved 5.5% to $13.5 billion.
Franklin Resources, Inc. (BEN - Free Report) reported its preliminary month-end AUM of $1.62 trillion as of Feb 29, 2024. This reflected an increase of 1.3% from the prior month.
The improvement was driven by positive markets and long-term net inflows, including the previously disclosed $5.5 billion in the retirement channel. However, fixed-income institutional client redemption of $2 billion affected BEN’s AUM balance.
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T. Rowe Price Group, Inc. (TROW - Free Report) announced its preliminary assets under management (AUM) of $1.50 trillion for February 2024. The figure reflected a 3.9% rise from last month.
TROW experienced net outflows of $2 billion in February 2024.
At the end of the reported month, equity products and multi-asset products aggregated $785 billion and $504 billion, rising 5.1% and 3.7%, respectively, on a sequential basis. Alternative products of $48 billion increased 2.1% on a sequential basis. T. Rowe Price registered $428 billion in target date retirement portfolios in February, which grew 4.1% from the prior month.
However, fixed-income products, including the money market, constituted $169 billion, down marginally from the January-end level.
A diversified business model, focus on enhancing investment capabilities, broadening distribution reach and investing in new product offerings are expected to aid TROW’s long-term growth.
However, the company’s overdependence on investment advisory fees is concerning. This is because market fluctuations and a sudden slowdown in overall business activities are likely to hurt its revenues. Additionally, a rising cost base could impede its bottom-line growth.
Over the past three months, shares of T. Rowe Price have gained 10.1% compared with the industry’s growth of 8.2%.
TROW currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Competitive Landscape
Victory Capital Holdings, Inc. (VCTR - Free Report) reported an AUM of $164.9 billion for February 2024. This reflected a 2.9% rise from $160.2 billion as of Jan 31, 2024.
By asset class, VCTR’s U.S. Mid Cap Equity AUM grew 4.4% from January to $31.3 billion. The U.S. Small Cap Equity AUM of $15.7 billion increased 3%. The Global/Non-U.S. Equity AUM rose 3.4% to $17.1 billion. The U.S. Large Cap Equity AUM improved 5.5% to $13.5 billion.
Franklin Resources, Inc. (BEN - Free Report) reported its preliminary month-end AUM of $1.62 trillion as of Feb 29, 2024. This reflected an increase of 1.3% from the prior month.
The improvement was driven by positive markets and long-term net inflows, including the previously disclosed $5.5 billion in the retirement channel. However, fixed-income institutional client redemption of $2 billion affected BEN’s AUM balance.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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