TROW reports an AUM of $1.61 trillion at the end of October 2024, increasing 1.5% from the previous month.
Investors interested in stocks from the Financial - Investment Management sector have probably already heard of T. Rowe Price (TROW) and Ares Management (ARES).
T. Rowe Price (TROW) reached a significant support level, and could be a good pick for investors from a technical perspective. Recently, TROW broke through the 200-day moving average, which suggests a long-term bullish trend.
T. Rowe Price's performance has been disappointing, with a -4.20% return over 5 years despite a strong bull market. Despite solid financials and a long history of dividend growth, the current dividend growth rate is unsustainable, making TROW less attractive for long-term dividend growth investors. Continuous negative net flows since 2021, especially among U.S. equity retail investors, are a major concern, even if AUM grows due to the bull market.
Although the revenue and EPS for T. Rowe (TROW) give a sense of how its business performed in the quarter ended September 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
T. Rowe Price Group, Inc. (NASDAQ:TROW ) Q3 2024 Earnings Conference Call November 1, 2024 8:00 AM ET Company Participants Linsley Carruth - Director of IR Rob Sharps - CEO and President Jen Dardis - CFO Eric Veiel - Head of Global Investments Conference Call Participants Alexander Blostein - Goldman Sachs Michael Cyprys - Morgan Stanley Benjamin Budish - Barclays Capital Dan Fannon - Jefferies Ken Worthington - JPMorgan Craig Siegenthaler - Bank of America Glenn Schorr - Evercore ISI Patrick Davitt - Autonomous Research Brennan Hawken - UBS Mike Brown - Wells Fargo Securities Operator Good morning. My name is Daniel and I will be your conference facilitator today.
A rise in AUM balance and an increase in revenues support TROW'S Q3 2024 results. Yet, rising expenses remain a concern.
T. Rowe Price (TROW) came out with quarterly earnings of $2.57 per share, beating the Zacks Consensus Estimate of $2.36 per share. This compares to earnings of $2.17 per share a year ago.
T. Rowe Price Group, Inc. has a long history of innovation and success, with a strong brand and business model providing 38 consecutive years of dividend growth. A pristine balance sheet, large net cash position, and high margins provide significant downside protection for T. Rowe Price Group stock. Rising AUM and increased flows into retirement accounts provide upside participation in bull markets.
Dividends are one of the best benefits to being a shareholder, but finding a great dividend stock is no easy task. Does T. Rowe Price (TROW) have what it takes?
TROW's third-quarter 2024 results are likely to reflect the benefits of growth in AUM. Net outflow is expected to have acted as a spoilsport.
Beyond analysts' top -and-bottom-line estimates for T. Rowe (TROW), evaluate projections for some of its key metrics to gain a better insight into how the business might have performed for the quarter ended September 2024.