Core Viewpoint - Morgan Stanley analyst Michael Cyprys has lowered the price target for T. Rowe Price (TROW) to $123 from $128 while maintaining an Equal Weight rating on the shares, following updates based on the latest Assets Under Management (AUM) month-end disclosure for December [1] Group 1 - The price target for T. Rowe Price has been reduced from $128 to $123 [1] - The rating on T. Rowe Price shares remains at Equal Weight [1] - The update is based on the latest AUM month-end disclosure for December [1]

Q4 2025 Earnings Release Supplement A copy of this presentation, which includes additional information, is available at investors.troweprice.com. Data as of December 31, 2025, unless otherwise noted. All figures are USD, unless otherwise noted. T. Rowe Price Group, Inc. | Key Metric | Q4 2024 | Q3 2025 | Q4 2025 | 2024 | 2025 | | --- | --- | --- | --- | --- | --- | | AUM, Flows, & Investment Advisory Effective Fee Rate (EFR) | | | | | | | Net Flows | ($19.3B) | ($7.9B) | ($25.5B) | ($43.2B) | ($56.9B) | | A ...

NEWS RELEASE T. ROWE PRICE GROUP REPORTS FOURTH QUARTER AND FULL YEAR 2025 RESULTS n/m - the percentage change is not meaningful. Capital allocation-based income represents the change in accrued carried interest. See the reconciliation to the comparable U.S. GAAP measures at the end of this earnings release. Beginning July 1, 2025, managed account - model delivery assets are included in assets under management. (1) (2) (3) (4) 1 ▪ Assets under management (AUM) of $1.8 trillion at December 31, 2025 ▪ Net cli ...

Core Viewpoint - T. Rowe Price Group, Inc. announced its financial results for the fourth quarter and full year 2025, highlighting its performance and business updates [1]. Group 1: Financial Performance - The firm managed $1.78 trillion in client assets as of December 31, 2025, with approximately two-thirds being retirement-related assets [4]. - The earnings release is available on the firm's website, indicating transparency in financial reporting [1]. Group 2: Leadership and Communication - Rob Sharps, Chair, CEO, and President, along with CFO Jen Dardis, will provide a business performance update and review financial results during a webcast [2]. - Supplemental materials related to the financial results will be accessible on the investor relations website shortly before the webcast [3].

Group 1: Economic Investments and Initiatives - The Maryland Marketing Partnership is driving branding and marketing efforts to attract businesses and grow the state's economy [1] - BGE announced a $250,000 grant for Civic Works' Baltimore Shines solar initiative, which will support solar installations for 30 homes, generating over 182,000 kWh of clean electricity annually [2] - Montgomery County Economic Development Corporation is facilitating business relocations and expansions, celebrating Samsung Biologics' expansion and awarding $7.5 million in grants to 55 early-stage companies [2] Group 2: Real Estate and Development - Peterson Companies and Sphere Entertainment Co. plan to develop a new Sphere venue at National Harbor, expected to create approximately 2,500 construction jobs and 4,750 operational jobs, with an economic impact exceeding $1 billion annually [3] - St. John Properties signed two new leases totaling over 310,000 square feet at Glen Burnie Business Center, with tenants planning to open early next year [5][6] Group 3: Education and Workforce Development - The University System of Maryland's HBCUs are expanding academic programs and partnerships, awarding 1,742 undergraduate degrees last year, and generating $351.3 million in economic impact [9] Group 4: Venture Capital and Innovation - TEDCO continues to support startups in technology and life sciences, announcing several agreements for investment capital and collaborations, including a potential $50 million investment from Taiwanese entities [7] Group 5: Financial Services - T. Rowe Price has formed a strategic collaboration with First Abu Dhabi Bank to provide a range of investment solutions, enhancing the bank's offerings and supporting sustainable growth in the GCC [8]

T. Rowe Price Group, Inc. (NASDAQ:TROW) ranks among the biggest publicly traded asset managers. On January 29, T. Rowe Price Group, Inc. (NASDAQ:TROW) debuted the active T. Rowe Price Innovation Leaders ETF (TNXT) on the NASDAQ exchange. The fund focuses on companies that are at the heart of technological advancement, healthcare, and finance, with an actively managed portfolio of approximately 150-250 holdings. Pixabay/Public Domain Sean McWilliams and Som Priestley, both accomplished professionals with ...

Core Viewpoint - T. Rowe Price Group, Inc. (TROW) is expected to report an increase in both earnings and revenues for the fourth quarter of 2025 compared to the previous year, despite facing challenges such as net outflows and rising expenses [1][7]. Financial Performance - In the last reported quarter, TROW's earnings exceeded the Zacks Consensus Estimate, driven by higher assets under management (AUM) and increased investment advisory fees, although higher expenses negatively impacted results [2][6]. - The consensus estimate for fourth-quarter earnings is $2.46 per share, reflecting a year-over-year increase of 16%, while revenues are estimated at $1.92 billion, indicating a 5.1% rise from the prior year [8][9]. Assets Under Management - TROW's preliminary AUM as of December 31, 2025, is $1.78 trillion, showing a slight increase from September 30, 2025, supported by improved performance in fixed income, multi-asset, and alternative products [4][5]. - The Zacks Consensus Estimate for total AUM is also pegged at $1.78 trillion, indicating a marginal sequential increase [5]. Market Conditions - The S&P 500 Index gained approximately 3.1% during the October-December quarter, suggesting moderate market performance, which likely benefited TROW through steady fixed-income inflows and stable equity market returns [3]. Net Outflows and Expenses - TROW experienced net outflows of $11.6 billion for the quarter ended December 31, 2025, amid a challenging operating environment [4]. - The company continues to incur significant expenses to attract new clients and invest in technology and employee compensation, which is expected to have increased overall expenses for the quarter [6].

T. Rowe Price Launches Innovation-Focused ETFETF Trends is now VettaFi. Read More --T. Rowe Price has added yet another fund to its growing suite of active ETFs. The firm launched its new innovation-focused ETF, TNXT, on the NASDAQ exchange today. TNXT, the T. Rowe Price Innovation Leaders ETF, brings the firm's suite to a total of 31 active ETFs, with 21 in equities and 10 in fixed income. The company managed some $1.78 trillion in client assets as of December 31, according to a press release.See more: [Th ...

Core Insights - T. Rowe Price Investment Management's active ETF asset base has nearly doubled in the past year, indicating a shift towards funds focused on stock and bond selection rather than passive index tracking [1][4]. Group 1: Market Trends - The ETF market is experiencing a division between "sharp objects," which are risky single-stock and leveraged products, and strategic active funds managed by experienced portfolio managers [2]. - Active ETFs now account for approximately 11% to 12% of total ETF assets, a significant increase from lower levels three to five years ago, with projections suggesting growth to the "higher teens" percentage within five years [4]. Group 2: Fund Performance - The T. Rowe Price Capital Appreciation Equity ETF (TCAF), launched in June 2023, has grown to over $6.3 billion in assets by employing fundamental research to construct a portfolio of around 100 companies [5]. - TCAF focuses on capital allocation quality and long-term potential, contrasting with the volatility associated with leveraged products [5]. Group 3: Investment Strategies - Advisors utilize active ETFs in various ways, with some employing options-based strategies for income, while strategic stock-picking funds like TCAF aim to outperform through security selection rather than leverage [6].

Core Insights - Oak Hill Advisors (OHA) acted as Joint Lead Arranger for Berkshire Partners' acquisition of United Flow Technologies (UFT), a key player in the municipal and industrial water and wastewater treatment sectors [1][3] Group 1: Oak Hill Advisors (OHA) - OHA has a long-standing relationship with Berkshire and possesses extensive expertise in the flow control distribution ecosystem, enabling quick underwriting and a tailored financing solution for UFT's growth [2] - OHA manages approximately $108 billion in capital across various credit strategies, emphasizing long-term partnerships to provide customized credit solutions [4] Group 2: United Flow Technologies (UFT) - UFT is recognized as a market leader in process and equipment solutions for municipal and industrial water and wastewater markets, focusing on innovation and customer service [6] Group 3: Berkshire Partners - Berkshire Partners is a 100% employee-owned investment firm focusing on U.S.-based middle-market companies, currently investing from its Fund XI, which closed in 2024 with approximately $7.8 billion in commitments [7] - The firm has a strong history of collaborating with management teams to grow its portfolio companies, having made over 150 private equity investments since inception [7]