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T Rowe Price Group Inc - TROW STOCK NEWS

Welcome to our dedicated page for T Rowe Price Group news (Ticker: TROW), a resource for investors and traders seeking the latest updates and insights on T Rowe Price Group stock.

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.

News

T. ROWE PRICE GROUP REPORTS PRELIMINARY MONTH-END ASSETS UNDER MANAGEMENT FOR DECEMBER 2023

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T. Rowe Price Group, Inc. (TROW) reported preliminary month-end assets under management of $1.45 trillion as of December 31, 2023. The company experienced net outflows of $9.4 billion for December 2023, and $28.3 billion for the quarter-ended December 31, 2023, with year-to-date net outflows of $81.8 billion. The firm's total assets under management saw an increase, with the equity, fixed income, multi-asset, and alternatives categories all showing growth. However, the company faces challenges with significant net outflows and will release its Q4 2023 earnings on February 8, 2024.
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T. ROWE PRICE ESTABLISHES NEW TEAM TO AMPLIFY FOCUS ON RETIREMENT

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T. Rowe Price (TROW) forms Global Retirement Strategy Team to enhance engagement with retirement clients and coordinate retirement initiatives, led by Michael Davis. The firm is a leading provider of investment and recordkeeping services to retirement plan sponsors, advisors, and plan participants.
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T. Rowe Price Foundation Grants $6.5 Million To Support Non-Profits in Baltimore

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T. Rowe Price Foundation (Ticker: TRP) announces $6.5 million in grants over three years to address critical gaps in Baltimore's nonprofit sector. This is the largest commitment since its establishment in 1981, totaling over $170 million in grants. The Foundation will distribute $2.25 million among eight nonprofit initiatives and award over $3 million in multiyear general operating grants. The strategy was informed by meetings with T. Rowe Price associates, community leaders, and insights from the 2022 State of the Baltimore Nonprofit Sector report.
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T. ROWE PRICE CAPITAL APPRECIATION FUND TIES RECORD FOR LONG-TERM PERFORMANCE

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T. Rowe Price (TROW) announced that the T. Rowe Price Capital Appreciation Fund (PRWCX) managed by David Giroux, CFA®, finished 2023 as having beaten its Morningstar peer group average for 16 consecutive years, tying the record for the most consecutive calendar years a U.S. equity or multi-asset fund has done so under the same portfolio manager. Giroux has more than 25 years of investment industry experience and has been the fund's portfolio manager since June 30, 2006. He has also won 18 Best Fund awards from Lipper. The fund began operation in 1986 and seeks long-term capital appreciation by investing primarily in a blended portfolio of common and preferred stocks as well as fixed income and other securities to help preserve principal value. Giroux also manages the T. Rowe Price Capital Appreciation Equity ETF (TCAF) and co-manages the T. Rowe Price Capital Appreciation and Income Fund (PRCFX).
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ADVANCING FINANCIAL ADVISOR ACCESS TO OHA'S PRIVATE LENDING CAPABILITIES: T. ROWE PRICE OHA SELECT PRIVATE CREDIT FUND NOW AVAILABLE ON ICAPITAL MARKETPLACE

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T. Rowe Price (TROW) and Oak Hill Advisors (OHA) announce the launch of the T. Rowe Price OHA Select Private Credit Fund (OCREDIT) on iCapital Marketplace. OCREDIT, with $1.5 billion of investible capital, offers an OHA-managed private credit investment solution for income-oriented individual investors through a non-traded, perpetual-life business development company structure. The fund aims to generate attractive returns through a diversified portfolio of primarily senior secured, privately originated loans to recession-resistant companies in North America.
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T. ROWE PRICE ANNOUNCES ADDITION OF VICE PRESIDENT TO INSTITUTIONAL BUSINESS IN CANADA

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T. Rowe Price (Canada), Inc. (TROW) has hired Jean-Sebastien Garant, CFA®, ASA, as vice president for its institutional business in Canada. With over 25 years of experience in the financial services industry, Garant will be responsible for sales, client service, and consultant relations in Eastern Canada. His hiring demonstrates T. Rowe Price's commitment to expanding its business in Canada and providing expertise to the Canadian client and consultant community.
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T. ROWE PRICE GROUP REPORTS PRELIMINARY MONTH-END ASSETS UNDER MANAGEMENT FOR NOVEMBER 2023

Rhea-AI Summary
T. Rowe Price Group, Inc. (TROW) reported preliminary month-end assets under management of $1.39 trillion as of November 30, 2023, with net outflows of $12.6 billion. The firm's assets under management for the prior month, quarter, and year-end by asset class and in the target date retirement portfolios are also provided.
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Mammoth Holdings Opens Silverstar Car Wash in Fargo, ND Market

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Mammoth Holdings LLC (MAMH), America's premier express car wash platform, recently opened its newest location, Silverstar Car Wash in Fargo, North Dakota. The company's dual growth strategy of developing greenfield locations and acquiring existing brands has resulted in the opening of the 11th greenfield site this year, aligning with the goal of 500 sites. With six locations in the Fargo market, the new site aims to become a go-to destination for car owners in the area, marking the 23rd Mammoth location under the Silverstar Car Wash brand. Mammoth Holdings operates 123 locations and has a multi-brand portfolio, including significant growth capital and active acquisition opportunities. The company has partnered with Red Dog Equity LLC, Oak Hill Advisors, and CCMP for equity and debt financing.
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OHA is a Lead Arranger for Private Financing for Thoma Bravo's Take-Private of NextGen Healthcare

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Oak Hill Advisors (OHA) served as a Lead Arranger for the acquisition financing to support Thoma Bravo's $1.8 billion take-private of NextGen Healthcare, Inc. (NXGN), a leading provider of cloud-based healthcare technology solutions to ambulatory providers. The transaction was financed with a unitranche term loan and revolving credit facility. OHA has a deep understanding of healthcare information technology, enabling expedited and comprehensive underwriting. This is OHA's eighth private transaction with Thoma Bravo, showcasing a strong partnership between the two entities.
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T. Rowe Price Group Announces "THRIVE" Associate Resource Group on Heels of International Day of Persons With Disabilities

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T. Rowe Price (TROW) introduces THRIVE @ T. Rowe Price, a new business resource group dedicated to fostering inclusivity for associates with and caregivers of persons with disabilities. The group aims to promote awareness, education, and acceptance of conditions affecting associates to create an inclusive, supportive working environment. THRIVE is the fifth BRG at T. Rowe Price, joining VALOR, PRIDE, MOSAIC, and WAVE, and has contributed to high engagement and a positive company culture.
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FAQ

What is the current stock price of T Rowe Price Group (TROW)?

The current stock price of T Rowe Price Group (TROW) is $118.77 as of November 15, 2024.

What is the market cap of T Rowe Price Group (TROW)?

The market cap of T Rowe Price Group (TROW) is approximately 26.5B.

What services does T. Rowe Price offer?

T. Rowe Price offers mutual funds, subadvisory services, separate account management, and related services for individuals, institutions, retirement plan sponsors, and financial intermediaries.

Where is T. Rowe Price headquartered?

T. Rowe Price is headquartered in Baltimore, Maryland.

What is the total value of assets managed by T. Rowe Price?

As of April 2024, T. Rowe Price manages $1.485 trillion in assets.

What percentage of T. Rowe Price's assets are held in retirement-based accounts?

Approximately two-thirds of T. Rowe Price's managed assets are held in retirement-based accounts.

What recent partnership has T. Rowe Price announced?

T. Rowe Price recently announced a partnership with the Baltimore Orioles, becoming the exclusive investment and wealth management sponsor of the baseball club.

What is the T. Rowe Price Foundation?

The T. Rowe Price Foundation is the philanthropic arm of T. Rowe Price, supporting various community organizations and initiatives.

How does T. Rowe Price support diversity and inclusion?

T. Rowe Price supports diversity and inclusion through its supplier diversity programs and community-driven initiatives, including contributions to women-owned businesses.

What is the investment focus of T. Rowe Price's portfolio?

T. Rowe Price's investment portfolio includes equity, balanced, fixed-income, money market, and alternative offerings, with a focus on mitigating downside risks.

Does T. Rowe Price have a global presence?

Yes, T. Rowe Price has a significant global presence, with just under 9% of its AUM derived from overseas.

How can I learn more about T. Rowe Price?

For more detailed information, visit the official T. Rowe Price website at https://www.3blmedia.com/profiles/t-rowe-price.

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T Rowe Price Group Inc

Nasdaq:TROW

TROW Rankings

#440 Ranked by Market Cap
#707 Ranked by Dividends

TROW Stock Data

26.53B
222.16M
2.07%
75.52%
5.2%
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