Home / Business and Economy / T. Rowe Price Assets Dip, Analysts Downgrade
T. Rowe Price Assets Dip, Analysts Downgrade
15 Apr
Summary
- Assets under management fell to $1.71 trillion in March.
- Net outflows for March were reported at $3.2 billion.
- Analysts lowered price targets on TROW shares recently.
T. Rowe Price Group, Inc. (NASDAQ:TROW) experienced a decline in its assets under management, which stood at $1.71 trillion at the close of March. This figure represents a decrease from the $1.80 trillion reported at the end of February. The firm reported net outflows of $3.2 billion for March, an improvement from the $5.3 billion net outflow in the preceding month.
As of March 31, T. Rowe Price's assets were distributed across asset classes, with Equity accounting for $810 billion. Fixed income and money market assets totaled $215 billion, while Multi-asset strategies held $625 billion, and Alternatives comprised $60 billion.
In recent financial analyses, BMO Capital Markets reduced its price recommendation for TROW shares to $98 from $104, maintaining a Market Perform rating. This adjustment was attributed to broader market headwinds impacting earnings per share. Similarly, TD Cowen lowered its price target for T. Rowe Price to $93 from $97, while keeping a Hold rating.
