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T. Rowe Price Group Inc (NASDAQ: TROW) is an independent investment management firm headquartered in Baltimore, Maryland. Founded in 1937, T. Rowe Price is dedicated to helping investors achieve their long-term financial goals. The firm offers a wide array of services including mutual funds, subadvisory services, separate account management, and other related services for individuals, institutions, retirement plan sponsors, and financial intermediaries.
Investment Products and Services: T. Rowe Price provides a broad range of no-load U.S. and international stock, hybrid, bond, and money market funds. As of April 2024, the firm manages $1.485 trillion in assets, comprising equity (51%), balanced (34%), fixed-income and money market (12%), and alternative (3%) offerings. Approximately two-thirds of its managed assets are held in retirement-based accounts, providing a stable client base, especially compared to peers.
Recent Initiatives and Achievements: The firm has been actively involved in various socio-cultural initiatives, as evidenced by its recognition of U.S. Black History Month and International Women's Day. Through its philanthropic arm, the T. Rowe Price Foundation, the company supports various community organizations, allocating over $400,000 to arts and cultural programs since 2018.
Financial Performance: In the latest quarter, T. Rowe Price reported robust financial results with assets under management reaching $1.542 trillion as of March 31, 2024. The company's diverse portfolio includes both first and second lien senior secured loans, with a strong focus on mitigating downside risks.
Global Reach: While primarily a U.S.-based asset manager, T. Rowe Price has a significant global presence, with just under 9% of its AUM derived from overseas. This international reach is further enhanced by its strategic partnerships and comprehensive investment strategies.
Key Partnerships: Recently, T. Rowe Price announced a marquee partnership with the Baltimore Orioles, becoming the exclusive investment and wealth management sponsor of the baseball club. This collaboration aims to elevate T. Rowe Price's brand visibility and engagement at both local and global levels.
Commitment to Diversity and Inclusion: The firm is committed to fostering diversity, equity, and inclusion within its operations and the broader community. This commitment is reflected in its supplier diversity programs and various community-driven initiatives, including significant contributions to women-owned businesses.
Additional Information: For more detailed information, visit the official T. Rowe Price website.
T. Rowe Price Group (TROW) has entered into a definitive agreement to acquire Oak Hill Advisors (OHA) for up to $4.2 billion. The deal includes $3.3 billion payable at closing, consisting of 74% in cash and 26% in stock, with an additional $900 million contingent on future performance. OHA, managing $53 billion in assets, will enhance T. Rowe Price’s alternative investment capabilities and is expected to positively impact diluted earnings per share in 2022. The transaction aims to leverage scale in alternative credit markets, with closing anticipated in late Q4 2021.
T. Rowe Price Group reported preliminary month-end assets under management of $1.61 trillion as of September 30, 2021. Client transfers totaled $1.2 billion for September and $3.6 billion for the quarter, bringing year-to-date transfers to $18.4 billion. The firm noted significant transfers to target-date retirement trusts, amounting to $12.7 billion year-to-date. The breakdown by investment vehicle indicates a decrease in U.S. mutual fund equity from $573 billion in August to $546 billion in September.
T. Rowe Price Group (NASDAQ-GS: TROW) announces the hiring of Theresa McLaughlin as head of Global Marketing, effective October 25, 2021. McLaughlin brings over 25 years of experience in the financial industry, having previously served as global chief marketing officer for State Street Corporation. Her role will focus on developing marketing campaigns, brand strategy, and enhancing client experiences. With $1.68 trillion in assets under management, T. Rowe Price continues to pursue growth through strategic marketing initiatives.
T. Rowe Price announced the launch of its new podcast, "Confident Conversations on Retirement", aimed at helping investors make informed financial decisions regarding retirement. The series features T. Rowe Price experts discussing retirement-related topics, such as saving for healthcare. The podcast aims to build confidence among retirement savers, as indicated by findings from their annual Retirement Saving and Spending study. The first three episodes are now available on major platforms, with a total of 15 episodes planned for the season.
T. Rowe Price Group (TROW) reported preliminary assets under management of $1.68 trillion as of August 31, 2021. The firm experienced client transfers from mutual funds totaling $2.1 billion in August 2021, bringing year-to-date transfers to $17.2 billion. Among these, $12.3 billion was specifically transferred to target-date retirement trusts. The firm continues to provide diverse investment offerings including mutual funds and separate accounts, maintaining a focus on disciplined investment approaches.
T. Rowe Price Group (TROW) reported preliminary assets under management of $1.64 trillion as of July 31, 2021. In July, client transfers from mutual funds totaled $0.3 billion, with $15.1 billion year-to-date. Of these, $0.2 billion and $11.0 billion were transferred to target-date retirement trusts, reflecting a strategic shift. Despite these movements, total assets increased by $13 billion compared to the previous month. The firm continues to focus on investment management, offering mutual funds and separate accounts for a diverse range of investors.
T. Rowe Price Group announced a quarterly dividend of $1.08 per share, payable on September 29, 2021. This dividend is designated for stockholders of record as of September 15, 2021. As of June 30, 2021, T. Rowe Price managed $1.62 trillion in assets, emphasizing a disciplined investment strategy focused on diversification and fundamental research.
T. Rowe Price Group (TROW) announced the retirement of CEO Bill Stromberg effective December 31, 2021, after 35 years with the firm. Rob Sharps, current President and CIO, will succeed him starting January 1, 2022. The transition follows a planned succession strategy, with Sharps recognized for his strategic thinking and leadership. Additionally, CFO Céline Dufétel is stepping down on July 31, 2021, with Jen Dardis taking over. The company remains well-positioned for growth, with $1.62 trillion in assets under management as of June 30, 2021.
T. Rowe Price Group (TROW) reported its financial results for Q2 2021, with $1.62 trillion in assets under management as of June 30, 2021. The earnings release provides insights into the company's performance and strategic focus on diversification and risk-aware investment approaches. T. Rowe Price offers a range of services including mutual funds, subadvisory services, and investment planning tools for individual and institutional investors.
T. Rowe Price Group (NASDAQ: TROW) has launched the Retirement Blend Fund series, enhancing its target date investment solutions. This series combines active and passive strategies for better diversification and cost management. The funds are aimed at investors seeking simplified retirement options, with net expense ratios ranging from 0.19% to 0.44%. The firm, managing $459 billion in multi-asset portfolios, is the largest active target date manager in the U.S. The Retirement Blend strategy has been available since 2018, but now extends to the mutual fund format.
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