We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
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's (TROW) February AUM Rises 3.9% to $1.5T
Read MoreHide Full Article
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%.
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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
T. Rowe Price's (TROW) February AUM Rises 3.9% to $1.5T
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%.
Image Source: Zacks Investment Research
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.