T Rowe Price Group Inc - TROW STOCK NEWS

T. Rowe Price Group (NASDAQ: TROW) reported preliminary assets under management of $1.31 trillion as of February 28, 2023, marking a decrease from $1.35 trillion in January 2023. The company experienced net outflows of $5.9 billion in February 2023, driven by client transfers from mutual funds to target date retirement products totaling $0.2 billion for the month and $1.3 billion for the quarter to date. The firm manages various investment vehicles, including U.S. mutual funds, with equity assets at $379 billion and fixed income at $74 billion.

T. Rowe Price (NASDAQ: TROW) announces the appointment of Kelly Shen as its new chief data officer, effective March 6, 2023. With over 25 years of experience in data and analytics, Shen previously served as the chief technology and data officer at CPP Investments. She will enhance the company's data capabilities and establish a centralized data team to optimize analytics and reporting. This strategic move aims to leverage data as an asset, aligning with T. Rowe Price's commitment to innovation and client service. The firm manages USD$1.35 trillion in assets as of January 31, 2023.

T. Rowe Price emphasizes its commitment to gender equity as part of Women's History Month and International Women's Day. The company recognizes the importance of understanding the differences between equity and equality and fostering allyship among its associates. Through initiatives aimed at increasing female representation and providing tailored support, T. Rowe Price aims to create a more inclusive environment. Associates highlight the significance of embracing equity, which is viewed as pivotal in addressing systemic barriers and ensuring fair opportunities for all. The company invites others to learn more about its Diversity, Equity, and Inclusion (DEI) efforts on its website.

T. Rowe Price recently hosted a successful blood drive in Baltimore on February 7 and 8, 2023. Spearheaded by Lead Client Consultant Alexis Willis and Director of Marketing Lee Jokl, the initiative aimed to support the American Red Cross during a critical time for blood donations. The drive collected 64 units of blood, potentially saving 192 lives, with 20% of donations from diverse donors to aid sickle cell anemia patients. The event coincided with Black History Month and demonstrated T. Rowe Price's commitment to community support, emphasizing the importance of diverse blood donors as new donor turnout in Maryland had dropped over 30%.

T. Rowe Price (NASDAQ-GS:TROW) is sponsoring the 2023 CIAA Basketball Tournament in Baltimore from February 21-25. The event supports historically Black colleges and universities (HBCUs) and aims to create positive change in the community. Last year's tournament attracted 66,000 attendees, generating $19.6 million in economic impact and supporting over 1,100 jobs. T. Rowe Price, with $1.35 trillion in assets under management, emphasizes its commitment to community collaboration and financial education. The firm has also expanded its partnership with Morgan State University to enhance financial literacy.

T. Rowe Price Group (NASDAQ: TROW) announced preliminary assets under management of $1.35 trillion as of January 31, 2023. This reflects a decrease due to $5.7 billion in net outflows during January, including $1.1 billion transferred from mutual funds to target date retirement trusts.

As of January 2023, equity assets were $391 billion, fixed income at $75 billion, and multi-asset at $196 billion. Compared to December 31, 2022, total assets decreased from $1.275 trillion.

T. Rowe Price (TROW) has announced the retirement of Andrew McCormick, head of Global Fixed Income, effective at the end of 2023. Arif Husain, currently head of International Fixed Income and CIO, will succeed him starting January 1, 2024. McCormick joined T. Rowe Price in 2008 and has played a significant role as a portfolio manager. Husain brings 28 years of investment experience and will also join the firm's Management Committee and Fixed Income Steering Committee. A robust succession plan has been implemented, ensuring leadership continuity in the firm's fixed income strategies.

T. Rowe Price Group declared a quarterly dividend of $1.22 per share, payable on March 30, 2023, to stockholders of record by March 15, 2023. This dividend represents a 1.7% increase from the previous rate of $1.20. The announcement marks the 37th consecutive annual dividend increase since the firm's IPO. T. Rowe Price, based in Baltimore, manages $1.27 trillion in assets as of December 31, 2022, offering a range of investment management services.

T. Rowe Price emphasizes its commitment to Diversity, Equity, and Inclusion (DEI) through various initiatives aimed at empowering underrepresented talent. In celebration of Black History Month, the firm highlights its recruitment programs, including M.B.A. Weekends and investment fellowships to attract diverse candidates. The MOSAIC business resource group fosters cultural diversity through community activities, while the Black Leadership Council aids in advocacy and mentorship for Black associates. T. Rowe Price also partners with various organizations to enhance access to opportunities within the finance industry, supporting diverse-owned businesses through the Moonshot program.