We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
T. Rowe Price (TROW) March AUM Sees 1.3% Sequential Growth
Read MoreHide Full Article
T. Rowe Price Group, Inc. (TROW - Free Report) reported preliminary assets under management (AUM) of $1.52 trillion as of Mar 31, 2021. This reflects a 1.3% increase from the prior month’s $1.50 trillion.
Following the announcement, shares of T. Rowe Price have depreciated 4.1%.
Client transfers from mutual funds to other portfolios, including trusts and separate accounts, aggregated $1.7 billion in March 2021.
Total sponsored U.S. mutual funds came in at $816 billion, up marginally from February 2021. Of the total U.S. mutual funds balance, approximately 83% comprised investments in equity and blended assets, while the remaining came from the fixed income and money markets.
Total other investment portfolios were worth $702 billion, marking a rise of 1.4% from the prior month. Overall, equity and blended assets accounted for $612 billion or 87% of total other investment portfolios, while money-market and fixed income products constituted $90 billion or 13%.
T. Rowe Price registered $352 billion in target date-retirement portfolios, reflecting a 2.3% increase from the $344 billion witnessed in the previous month.
Our Viewpoint
T. Rowe Price’s robust balance sheet provides sufficient liquidity, thereby supporting the roll out of new funds. Also, its diverse business model is anticipated to stoke AUM growth. However, elevated costs and a stringent regulatory pressure across the investment management industry might be headwinds for the long term.
Over the past six months, shares of T. Rowe Price have risen 19.1%, underperforming the industry’s growth of 26.1%.
Currently, T. Rowe Price carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Competitive Landscape
Cohen & Steers (CNS - Free Report) reported preliminary AUM of $87 billion as of Mar 31, 2021, marking an increase of $4 billion from Feb 28, 2021. This increase resulted from net inflows of $1.5 billion and market appreciation of $2.7 billion, partially offset by distributions of $281 million.
Invesco Ltd. (IVZ - Free Report) registered preliminary month-end AUM of $1,404.1 billion as of Mar 31, 2021, which increased marginally from the end of the previous month. Total net inflows were $6.4 billion.
Franklin Resources (BEN - Free Report) recorded a preliminary AUM balance of $ 1,498.9 billion for March 2021. This highlighted a marginal decline from $1,500.5 billion recorded as of Feb 28, 2021.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.
Image: Bigstock
T. Rowe Price (TROW) March AUM Sees 1.3% Sequential Growth
T. Rowe Price Group, Inc. (TROW - Free Report) reported preliminary assets under management (AUM) of $1.52 trillion as of Mar 31, 2021. This reflects a 1.3% increase from the prior month’s $1.50 trillion.
Following the announcement, shares of T. Rowe Price have depreciated 4.1%.
Client transfers from mutual funds to other portfolios, including trusts and separate accounts, aggregated $1.7 billion in March 2021.
Total sponsored U.S. mutual funds came in at $816 billion, up marginally from February 2021. Of the total U.S. mutual funds balance, approximately 83% comprised investments in equity and blended assets, while the remaining came from the fixed income and money markets.
Total other investment portfolios were worth $702 billion, marking a rise of 1.4% from the prior month. Overall, equity and blended assets accounted for $612 billion or 87% of total other investment portfolios, while money-market and fixed income products constituted $90 billion or 13%.
T. Rowe Price registered $352 billion in target date-retirement portfolios, reflecting a 2.3% increase from the $344 billion witnessed in the previous month.
Our Viewpoint
T. Rowe Price’s robust balance sheet provides sufficient liquidity, thereby supporting the roll out of new funds. Also, its diverse business model is anticipated to stoke AUM growth. However, elevated costs and a stringent regulatory pressure across the investment management industry might be headwinds for the long term.
Over the past six months, shares of T. Rowe Price have risen 19.1%, underperforming the industry’s growth of 26.1%.
Currently, T. Rowe Price carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Competitive Landscape
Cohen & Steers (CNS - Free Report) reported preliminary AUM of $87 billion as of Mar 31, 2021, marking an increase of $4 billion from Feb 28, 2021. This increase resulted from net inflows of $1.5 billion and market appreciation of $2.7 billion, partially offset by distributions of $281 million.
Invesco Ltd. (IVZ - Free Report) registered preliminary month-end AUM of $1,404.1 billion as of Mar 31, 2021, which increased marginally from the end of the previous month. Total net inflows were $6.4 billion.
Franklin Resources (BEN - Free Report) recorded a preliminary AUM balance of $ 1,498.9 billion for March 2021. This highlighted a marginal decline from $1,500.5 billion recorded as of Feb 28, 2021.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.
Click here for the 4 trades >>