T. Rowe 4Q Net Up; Firm's Assets Under Management Fall

Dow Jones

Feb 05, 2025

By Rob Curran

T. Rowe Price Group said fourth-quarter net income and revenue rose but came in short of Wall Street targets as assets under management fell.

The Baltimore investment-fund manager logged fourth-quarter earnings of $439.9 million, or $1.92 a share, up from $437.6 million, or $1.90 a share, a year earlier.

Stripping out certain one-off items, T. Rowe Price registered adjusted earnings of $2.12 a share, shy of the mean analyst target of $2.17 a share, as tallied by FactSet.

Fourth-quarter revenue rose 11% to $1.82 billion, also short of the average analyst estimate of $1.87 billion, as per FactSet

Investment advisory fees rose 16% to $1.67 billion.

T. Rowe said assets under management slipped by $24.3 billion to $1.61 trillion at quarter end.

Net cash flows amounted to an outflow of $19.3 billion.

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

February 05, 2025 07:41 ET (12:41 GMT)

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Rowe 4Q Net Up; Firm's Assets Under Management Fall\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2025-02-05 20:41</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  By Rob Curran \n</p>\n<pre>\n \n</pre>\n<p>\n  T. Rowe Price Group said fourth-quarter net income and revenue rose but came in short of Wall Street targets as assets under management fell. \n</p>\n<p>\n  The Baltimore investment-fund manager logged fourth-quarter earnings of $439.9 million, or $1.92 a share, up from $437.6 million, or $1.90 a share, a year earlier. \n</p>\n<p>\n  Stripping out certain one-off items, T. 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