Back to top
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Franklin Resources, Inc. (BEN) - free report >>
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.
Franklin Resources, Inc. (BEN) - free report >>
Image: Bigstock
T. Rowe Price's August AUM Balance Improves 1.6% Sequentially
T. Rowe Price Group, Inc. (TROW - Free Report) announced its preliminary assets under management (AUM) of $1.61 trillion for August 2024. The figure reflected a sequential increase of 1.6%.
TROW experienced net outflows of $5.3 billion in August 2024.
Breakdown of TROW’s AUM Performance
At the end of August, TROW’s equity products aggregated $825 billion, which increased 1.4% from the previous month’s level. Fixed income (including money market) rose marginally to $183 billion. Further, multi-asset products were $553 billion, which increased 2.2% from the previous month.
Alternative products of $51 billion increased 2% from the prior month’s level.
T. Rowe Price registered $474 billion in target date retirement portfolios in August 2024, which increased 2.2% from the prior month.
Our Take on TROW
The company’s solid AUM balance, broadening distribution reach and efforts to diversify business through acquisitions are likely to support its top-line growth in the long term. However, the company’s overdependence on investment advisory fees is concerning. Also, T. Rowe Price’s bottom-line growth continues to be under pressure due to high costs.
Over the past three months, shares of T. Rowe Price have lost 8.7% against the industry’s 6.9% growth.
Currently, TROW carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Asset Managers
Franklin Resources, Inc. (BEN - Free Report) reported its preliminary AUM of $1.68 trillion as of Aug. 31, 2024. This reflected an increase of 1.1% from the prior month’s level.
The improvement in BEN’s AUM balance was due to the impact of positive markets, partially offset by long-term net outflows.
Cohen & Steers, Inc. (CNS - Free Report) reported a preliminary AUM of $88.1 billion as of Aug. 31, 2024. This reflected a rise of 4.1% from the prior month's level.
The increase in CNS’ AUM balance was driven by the market appreciation of $3.7 billion and net inflows of $8 billion, partially offset by distributions of $152 million.