T. Rowe Price Group, Inc. is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe. It employs fundamental and quantitative analysis with a bottom-up approach. The firm utilizes in-house and external research to make its investments. It employs socially responsible investing with a focus on environmental, social, and governance issues. It makes investment in late-stage venture capital transactions and usually invests between $3 million and $5 million. The firm was previously known as T. Rowe Group, Inc. and T. Rowe Price Associates, Inc. T. Rowe Price Group, Inc. was founded in 1937 and is based in Baltimore, Maryland, with additional offices in North America, Europe, Asia, Australia.
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T. Rowe Price to Acquire F/m Investments, Adding $19 Billion in Fixed-Income ETFs
T. Rowe Price Group has agreed to acquire F/m Investments, a fixed-income asset manager with about $19 billion in assets, in a deal that would add 20 ETFs covering Treasuries, TIPS, corporate bonds and municipal securities. The acquisition would increase T. Rowe Price's fixed-income assets by nearly 9% and more than double its fixed-income ETF assets from around $6.5 billion. The transaction is expected to close in early 2027, though the purchase price has not been disclosed. T. Rowe Price, traditionally known for active investing, gains an established ETF platform and a team experienced in developing fixed-income products.
Active ETFs Capture 42% of ETF Inflows, Up From 26% in 2024
Actively managed exchange-traded funds now account for 42% of every dollar flowing into ETFs, up from 26% in 2024. In the first quarter, investors poured $245.2 billion into US-listed active ETFs, and last month they added nearly $63.6 billion, bringing the year-to-date total to $466.8 billion, well ahead of the $263 billion pace in the comparable 2025 period. BlackRock controlled $3.6 trillion in active assets under management as of the end of June, and actively managed ETF assets are expected to swell to $4.2 trillion globally by 2030. T. Rowe Price is leveraging its active mutual fund experience by introducing ETF versions of popular funds, while Franklin Templeton's pivot to ETFs has helped its stock rise 42.2% year to date.
Vanguard taps T. Rowe Price to run portions of key active equity funds
Vanguard has brought T. Rowe Price Associates on board to manage portions of Vanguard Explorer, Vanguard Growth and Income, and the Vanguard Variable Insurance Fund Small Company Growth Portfolio. It is the first time T. Rowe Price has advised Vanguard, and the three funds together hold more than $42 billion in combined net assets. Vanguard removed ArrowMark Colorado Holdings from Explorer and VVIF Small Company Growth, while Los Angeles Capital Management exited Growth and Income. T. Rowe Price received individual sleeves of each portfolio, not control of the entire fund. Vanguard also adjusted Explorer's adviser allocations to increase exposure toward the growth investment style.
T. Rowe Price defends Dogecoin allocation in its active crypto ETF
T. Rowe Price has defended including Dogecoin in its newly launched actively managed cryptocurrency ETF, the T. Rowe Price Active Crypto ETF (TKNZ), which allocates 1.26% of its portfolio to the meme coin. Blue Macellari, head of digital assets and lead portfolio manager for TKNZ, said the firm wanted to be truly active managers and that excluding meme coins on principle would prevent investors from participating in potential upside. The fund, which launched in July as the first actively managed, multi-token spot crypto ETF in the U.S., holds roughly 60% of its assets in Bitcoin and Ethereum, with Binance Coin also among its holdings. Macellari noted that Dogecoin was selected for its longevity and high market capitalization, and that meme coin trading provides valuable data on blockchain network performance under congestion. TKNZ carries a 0.75% net management fee, supported by a fee waiver through May 2027, and uses fundamental research and market momentum to actively select between 5 and 15 digital assets.
T. Rowe Price Q2 Earnings Call Highlights Persistent Active Equity Outflows and Fee Pressure
T. Rowe Price's second quarter earnings call revealed ongoing challenges with active equity outflows and fee compression, as management fielded analyst questions on strategic responses. Revenue reached $1.91 billion, slightly missing analyst estimates of $1.93 billion, while adjusted EPS of $2.57 beat the $2.52 consensus. CEO Rob Sharps described the active equity environment as under pressure and indicated net flows are likely to be more challenging in the second half, though gross flows and international markets showed positives. Analysts probed topics including the potential role of M&A to offset fee compression, the firm's digital asset and tokenization strategy, expense management leveraging AI, and scaling the SMA business. The company continues to invest in growth areas such as fixed income, alternatives, and active ETFs, which saw net positive inflows.
T. Rowe Price declares quarterly dividend of $1.30 per share
T. Rowe Price Group announced that its Board of Directors has declared a quarterly dividend of $1.30 per share. The dividend is payable on September 29, 2026, to stockholders of record as of the close of business on September 15, 2026.
T. Rowe Price Group Could Be 5% Overvalued After Earnings Beat
T. Rowe Price Group shares may be about 5% overvalued following a second-quarter earnings beat that lifted the stock. The most followed narrative pegs fair value at $110.00, below the last close of $115.79, implying the stock is overvalued. The company's expansion in retirement solutions, including private market alternatives and enhanced Target Date funds, supports long-term growth, but ongoing fee compression from passive products remains a risk. The current price-to-earnings ratio of 11.4 times sits well below the US Capital Markets industry average of 38.3 times and a peer average of 21.2 times, suggesting the market has priced in meaningful business concerns.
T. Rowe Price Q2 adjusted EPS rises to $2.57 on higher AUM
T. Rowe Price Group reported second-quarter 2026 adjusted diluted earnings per share of $2.57, up from $2.24 a year earlier, as higher average assets under management boosted investment advisory revenue. Adjusted net revenue rose 8.5% year over year to $1.9 billion, while the firm ended the quarter with $1.9 trillion in AUM and $6.5 billion in net outflows, though it recorded positive flows in May and June. Management expects active-equity pressure and more difficult net flows in the second half of 2026. The company continues to invest in growth areas, with its ETF platform reaching $30 billion in AUM, including $4.4 billion of second-quarter inflows, and it repurchased $157 million of stock during the quarter.
UOBAM Launches Two New One-Stop Retirement Funds, IPO from 3 to 11 August
UOB Asset Management Thailand is launching two new retirement mutual funds: the United Pre Strategic Glide-Path Fund, or UPRE, and the United Post Strategic Glide-Path Fund, or UPOST, with an initial public offering from 3 to 11 August 2026. The UPRE fund focuses on wealth accumulation before retirement for investors who are 10 to 15 years away from retiring, with an equity allocation of approximately 65 percent of net asset value and a risk level of 5. The UPOST fund aims to generate steady cash flow and income for the 10 to 15 years after retirement, with an equity allocation of approximately 51 percent of net asset value and also a risk level of 5. Both funds invest in units of the T. Rowe Price Funds SICAV, which employs an automatic portfolio adjustment strategy based on life stages and holistic risk management. T. Rowe Price is the world's number one active target-date fund manager, with assets under management of approximately 1.7 trillion US dollars.
T. Rowe Price launches private markets fund and first actively managed multi-token spot crypto ETF
T. Rowe Price has launched two new products that expand its reach into alternative assets and digital tokens. The T. Rowe Price Goldman Sachs Private Markets Fund is an interval fund designed to broaden access to private markets, while the T. Rowe Price Active Crypto ETF, trading under the ticker TKNZ, is the firm's first actively managed multi-token spot crypto exchange-traded product. These offerings push the asset manager further beyond its traditional mutual funds and core ETFs, though they do not yet materially alter the core risk-reward balance tied to stabilizing flows and advisory fees. The firm's narrative projects revenue of $8.4 billion and earnings of $2.6 billion by 2029, requiring 4.4% annual revenue growth and a roughly $0.6 billion increase in earnings from the current $2.0 billion.
Goldman Sachs and T. Rowe Price launch private markets interval fund for retail investors
Goldman Sachs Group and T. Rowe Price have partnered to launch a private markets interval fund aimed at retail investors, providing individuals access to private market exposure typically reserved for institutions. Goldman Sachs CEO David Solomon has publicly backed the revised Crypto Clarity Act, a rare stance among large bank leaders. The new fund and the CEO's crypto policy support highlight areas Goldman Sachs is prioritizing, from widening access to alternative assets to taking a clearer position on digital assets regulation. Goldman Sachs stock trades at $1,033.34, up 13.0% year to date and 44.0% over the past year.
T. Rowe Price Group Fair Value Estimate Raised to US$110.00
Simply Wall St has raised its fair value estimate for T. Rowe Price Group to US$110.00 from US$97.42, reflecting updated model assumptions. The revision places the estimate within the range of recent Wall Street price targets, which cluster from just above US$100 to about US$121. Key changes in the model include an increase in assumed long-term dollar revenue growth from 1.86% to 4.35%, a projected net profit margin rising from 24.70% to 31.00%, and a target future P/E multiple adjusted from 12.50x to 10.45x, while the discount rate moved slightly from 7.81% to 7.78%. Among analysts, Evercore ISI raised its target to US$121, Keefe Bruyette to US$120, and Barclays to US$108 while maintaining an Underweight rating, while TD Cowen trimmed its target to US$107 with a Hold stance.
T. Rowe Price to Report Q2 Earnings With Expected Revenue and EPS Growth
T. Rowe Price is scheduled to report second-quarter 2026 results before the opening bell on July 31. The Zacks Consensus Estimate for earnings is $2.52 per share, indicating a 12.5% year-over-year increase, while revenues are expected to reach $1.92 billion, up 11.6% from the prior-year quarter. The company's preliminary assets under management stood at $1.89 trillion as of June 30, 2026, with net inflows of $0.8 billion for the quarter. The consensus estimate for total AUM is $1.91 trillion, suggesting an 11.7% sequential rise. Investment advisory fees are pegged at $1.73 trillion, and administrative, distribution and servicing fees are estimated at $149 million, implying sequential increases of 2.7% and 7.9%, respectively. T. Rowe Price carries a Zacks Rank of 2 but has an Earnings ESP of 0.00%, meaning the model does not conclusively predict an earnings beat.
StockStory Highlights Piper Sandler and EVERTEC as Top Financials Picks, Questions T. Rowe Price
StockStory identified Piper Sandler and EVERTEC as two financials stocks with promising prospects while questioning T. Rowe Price. Piper Sandler posted 19.6% annual revenue growth over the last two years and 34.8% annual earnings per share growth, with a 15.3% return on equity. EVERTEC achieved 13.3% annual revenue growth and 13% annual earnings per share growth over the same period, also demonstrating a stellar return on equity. In contrast, T. Rowe Price saw only 2.6% annual revenue growth over five years and a 1.4% annual decline in earnings per share, leading StockStory to flag it as a stock to avoid. The broader financials sector gained just 1.4% over the past six months, trailing the S&P 500's 6.2% rise.
Goldman and T. Rowe launch first interval fund for retail investors
Goldman Sachs Group Inc. and T. Rowe Price Group Inc. are launching their first interval fund for the masses, the T. Rowe Price Goldman Sachs Private Markets Fund, which will be open to all investors with no accreditation needed and a minimum investment of $2,500. The fund will invest across four alternative asset classes, with Goldman Sachs Asset Management providing allocations in private equity, private infrastructure, and real estate, while T. Rowe contributes the liquid portion and late-stage venture capital, and T. Rowe's Oak Hill Advisors adds private credit allocations. The launch comes as Wall Street firms partner to bring private investments to Main Street, following Blackstone Inc.'s recent debut of two mass-market products with Vanguard Group and Wellington Management. Goldman had previously committed up to $1 billion to T. Rowe and the two firms have already rolled out model portfolios for the wealth market, with plans to introduce target-date funds for retirement accounts later this year. The interval fund will offer periodic liquidity opportunities typically up to 5% of outstanding shares, but the companies caution it should be viewed as illiquid, as it may repurchase up to 25% of outstanding shares.
Jamie Dimon Warns Against Long-Term Bonds, Favors Short-Term Bond ETFs
JPMorgan Chase CEO Jamie Dimon said he would not buy long-term U.S. Treasury bonds, citing concerns that high government debt will eventually push interest rates higher. Dimon made the comments in a CNBC interview, arguing that rising rates erode bond prices and that a 5% yield does not justify the risk. The Vanguard Long-Term Treasury ETF has returned negative 5.63% annually over five years and negative 1.37% over ten years. For investors seeking bond exposure, the article highlights two short-term alternatives: the Vanguard Ultra-Short Bond ETF, which holds 1,286 bonds with maturities of five years or less and returned 3.49% annualized over five years, and the T. Rowe Price Ultra Short-Term Bond ETF, which has returned 4.11% annualized since inception and holds 95.7% of its bonds in maturities under three years.
T. Rowe Price Launches First Actively Managed Multi-Crypto Spot ETF
T. Rowe Price has launched the T. Rowe Price Active Crypto ETF, the first actively managed exchange-traded fund providing spot exposure to multiple cryptocurrencies under one umbrella. The fund holds positions in eight digital assets, with Bitcoin, Ethereum, and Binance Coin accounting for about 70.6% of the portfolio, while seven of the eight holdings rank among the top 10 cryptocurrencies by market capitalization. Managed by Blue Macellari, who has more than two decades of experience in alternative assets, the ETF charges an annual fee of 0.75% after a 0.15% fee waiver expiring on May 31, 2027. The launch comes as the U.S. market already counts nearly 5,300 exchange-traded products, with 730 new ETFs introduced in the first half of 2026 alone.
Chubb, Aflac, Cincinnati Financial, and T. Rowe Price stand out as Wall Street’s most reliable dividend growers
Four financial-sector stocks have been identified as Wall Street’s most reliable dividend growers, each with multi-decade records of consistent payout increases. Chubb raised its quarterly dividend to $1.02, supported by an 84% combined ratio and $3.95 billion in Q1 2026 operating cash flow. Aflac has delivered 43 consecutive years of dividend increases, with its latest hike to 61 cents per share backed by $1.02 billion in quarterly net income. Cincinnati Financial lifted its payout 8% to 94 cents, trades at roughly 10 times earnings, and holds over $8 billion in unrealized equity gains. T. Rowe Price offers the highest yield in the group at 4.5% but absorbed $13.7 billion in net client outflows in Q1 2026 alone.
T. Rowe Price's 4.4% Yield After 40 Years of Dividend Hikes May Be a Bargain, Not a Value Trap
T. Rowe Price has increased its dividend for 40 consecutive years and now offers a forward yield of 4.4%, but its stock has made no net gains since mid-2022, raising the question of whether the payout is a bargain or a value trap. The company's fee-bearing assets under management have grown from just over $1.3 trillion in mid-2022 to $1.7 trillion in the first quarter of this year, aligning with the S&P 500's growth when excluding the Magnificent Seven stocks. Investors have been distracted by the artificial intelligence boom, but once that mania cools, traditional mutual funds and reliable dividend payers like debt-free T. Rowe Price could regain favor. The stock trades at a forward price-to-earnings ratio of less than 12, and the yield is seen as a potential long-term bargain rather than a trap.
T. Rowe Price launches its first actively managed multi-token spot crypto ETF
T. Rowe Price Group has launched the T. Rowe Price Active Crypto ETF, ticker TKNZ, its first actively managed multi-token spot crypto ETF. The fund offers diversified exposure to major cryptocurrencies and expands the firm's ETF platform into digital assets using its own digital asset infrastructure. TKNZ adds a differentiated, actively managed crypto offering to T. Rowe Price's 34 active exchange-traded products, positioning it alongside competitors like BlackRock and Fidelity that already have crypto vehicles. The product carries a temporary 0.75% management fee waiver and relies on the firm's research-driven, risk-aware process and experienced digital assets team.
T. Rowe Price Launches Actively Managed Crypto ETF With Bitcoin, Ethereum, and XRP
T. Rowe Price, a Wall Street firm with $7 trillion in assets under management, has entered the cryptocurrency ETF market by launching its first actively managed multi-token fund. The fund includes Bitcoin, Ethereum, and XRP among its holdings. This marks the asset manager's debut in the crypto ETF space, offering investors exposure to a basket of digital assets through an actively managed vehicle.
Prudential Financial, T. Rowe Price, Franklin Resources, NatWest Group, and British American Tobacco are highlighted as solid dividend stocks for July, with yields ranging from 3.9% to 5.4%. Prudential Financial raised its quarterly dividend to $1.40 for 2026, marking its 18th consecutive year of increases, and trades at a trailing PE of 12. T. Rowe Price lifted its quarterly payout to $1.30 for 2026, with Q1 2026 adjusted EPS of $2.52 beating consensus. Franklin Resources posted fiscal Q2 EPS of $0.71, well above the $0.55 consensus, and swung to long-term net inflows of $16.9 billion. NatWest Group offers a trailing yield of 4.9% and raised 2026 income guidance to the top end of £17.2 to £17.6 billion. British American Tobacco increased its 2026 quarterly rate to $0.834851 and guides to 5% to 8% adjusted diluted EPS growth in 2026.
Custody bank stocks post strong Q1 with revenues beating estimates by 2.5%
Custody bank stocks delivered a strong first quarter, with the 16 companies tracked reporting aggregate revenues that beat analysts' consensus estimates by 2.5%. Voya Financial stood out with revenues of $1.93 billion, up 2.3% year on year and exceeding expectations by 15.4%, the largest beat in the group. Franklin Resources reported revenues of $2.29 billion, an 8.7% increase that topped estimates by 11.8%, while Hamilton Lane posted the slowest revenue growth with a 2.2% decline to $193.6 million, missing forecasts by 3.4%. T. Rowe Price saw revenues rise 4.8% to $1.86 billion but missed estimates by 1%, and Ameriprise Financial grew revenues 10.8% to $4.77 billion, beating by 2.1%. Share prices across the group have been resilient, rising 8.7% on average since the latest earnings results.
Analysts have issued bearish calls on Sweetgreen, T. Rowe Price, and MGIC Investment, citing financial warning signs. Sweetgreen faces lagging same-store sales, an 8.7 percentage point decline in free cash flow margin, and potential shareholder dilution from cash depletion, with its stock at $7.73 implying a 150.7x forward EV-to-EBITDA ratio. T. Rowe Price saw just 2.6% annual revenue growth over five years and a 1.4% annual EPS decline despite revenue gains, trading at $119.95 per share or 12.6x forward P/E. MGIC Investment experienced a 1.2% annual contraction in net premiums earned over five years, an estimated 1.3% sales decline ahead, and only 9.4% annual EPS growth over two years, with shares at $28.19 and a 1.1x forward P/B ratio.
T. Rowe Price appointed advisor to three Vanguard active equity funds
Vanguard has appointed T. Rowe Price as an advisor to three of its active equity funds, expanding the firm's institutional footprint. The mandate shifts sub-advisory roles away from ArrowMark Colorado and Los Angeles Capital, bringing in two T. Rowe Price investment teams focused on small and mid cap growth and selection-driven returns within a risk-aware framework. The move strengthens collaboration between the two large fund providers in active equity management, though it does not directly address structural headwinds from fee compression and competition from passive products. Slight fee increases on two of the funds remain within a tight range, suggesting Vanguard and its boards still prioritize overall cost.
StockStory flags Apple as profitable watchlist pick, questions General Dynamics and T. Rowe Price
StockStory highlights Apple as a profitable company balancing growth and profitability, while questioning General Dynamics and T. Rowe Price. Apple, with a trailing 12-month GAAP operating margin of 32.6%, benefits from strong brand loyalty and elite free cash flow margins despite sluggish recent revenue growth. General Dynamics, with a 10.2% margin, faces slowing demand and a shrinking free cash flow margin, trading at 21 times forward earnings. T. Rowe Price, despite a 30.4% margin, has seen low revenue growth and declining earnings per share, trading at 12 times forward earnings.
Bond Investors Pull Back as Central America Rallies Go ‘Too Far’
Investors are pulling back from a niche trade in Central American and Caribbean government bonds that delivered some of the best returns in emerging markets in recent years. A double-digit rally turned the once-overlooked corner of the developing world into a magnet for foreign bond buyers, but with the region trading at a premium to the rest of emerging markets, funds including William Blair Investment Management and T. Rowe Price are moving away from broader bets and instead zeroing in on a handful of countries they still consider undervalued. Christopher Mejia, an emerging-market sovereign analyst at T. Rowe Price, said he has taken profits in several long-standing overweight positions including in The Bahamas, Barbados, Costa Rica as well as Trinidad and Tobago, while Morgan Stanley strategists declared the trade now fully priced and moved to a dislike stance on El Salvador and Costa Rica. Most sovereign bonds from Central America and the Caribbean trade above par and offer an average yield of 5.9%, far below the 7.7% average for junk-rated sovereign bonds in the developing world, according to data compiled by Bloomberg. Debt from the region has returned more than 40% since 2023, beating a Bloomberg index of peers, as governments won credit-rating upgrades for keeping debt levels in check and completed debt-for-nature swaps that refinanced billions of dollars in obligations at cheaper levels.
Vanguard Adds T. Rowe Price as Advisor to Three Active Equity Funds
Vanguard has added T. Rowe Price Associates as an advisor to three active equity funds: Vanguard Explorer Fund, Vanguard Variable Insurance Fund - Small Company Growth Portfolio, and Vanguard Growth and Income Fund. T. Rowe Price will manage portions of these funds using distinct strategies, with a small- and mid-cap growth approach for the first two and a fundamental stock selection strategy for the Growth and Income Fund. As part of the changes, ArrowMark Colorado Holdings and Los Angeles Capital Management will no longer advise certain funds, and expense ratios are expected to rise slightly for two of the funds, with no change for Explorer Fund. The funds' investment objectives and principal strategies remain unchanged.
T. Rowe Price appoints Mike Barry as head of Global Marketing and reshapes institutional leadership
T. Rowe Price Group announced executive changes including the appointment of Mike Barry as head of Global Marketing and the naming of new co-heads for U.S. Institutional relationship management. The leadership reshuffle is intended to support growth initiatives such as digital and AI-powered marketing and a regionally focused institutional approach. Mike Barry, a long-tenured executive with experience in AI-powered tools, will oversee marketing across retail, wealth, retirement, and institutional channels. The new co-head structure for U.S. Institutional relationship management may influence how the firm pursues large client mandates and service models. These moves highlight management's focus on client experience and differentiation amid competitive pressures from firms like BlackRock, Vanguard, and Fidelity.
Morgan Stanley Raises T. Rowe Price Price Forecast to $109
Morgan Stanley raised its price target on T. Rowe Price Group to $109 from $105 while reiterating an Equal Weight rating. The firm increased its second-quarter earnings per share estimates by an average of 7.5% and said it would be a buyer of traditional asset managers ahead of Q2 results, expecting broad-based earnings beats supported by a favorable market backdrop and improving fund flows. Earlier, on June 10, T. Rowe Price reported May assets under management rose to $1.89 trillion from $1.83 trillion in April, with net inflows of $3.3 billion, helped by a large contribution to its target date retirement funds. Equity assets grew to $919 billion and multi-asset assets to $691 billion, while target date retirement funds reached $623 billion.
T. Rowe Price adds $1.1 billion in daily ETF flows
T. Rowe Price attracted $1,107.47 million in net ETF flows on June 25, 2026, the largest single-day inflow among all U.S. ETF brands, representing 3.80% of its total assets under management of $29,150.85 million. iShares led in absolute terms with $14,430.35 million in inflows, while Vanguard experienced the largest outflow at -$16,856.56 million. Other notable movers included Tradr with $1,053.82 million and Roundhill with $972.08 million in inflows.
Structural Inflation Threatens Bond Portfolios, Active ETFs Like TAGG May Help
Rising structural inflation could challenge bond portfolios in the second half of 2026, making active management more important. The Consumer Price Index rose to 4.2% in May, and T. Rowe Price analysts warn that geopolitical tensions are accelerating global economic fragmentation, driving up costs through reshoring, tariffs, and higher defense spending. Credit market resilience may be tested by further shocks, while central banks face pressure to compromise their inflation targets. Active bond ETFs like the T. Rowe Price QM U.S. Bond ETF (TAGG), which charges eight basis points and seeks to outperform the Bloomberg U.S. Aggregate Bond index, can adapt more quickly than passive funds and scrutinize issuers more closely.
T. Rowe Price’s Farris Shuggi Talks Combining Fundamental and Quant Investing
T. Rowe Price’s head of quantitative equity, Farris Shuggi, discussed how blending fundamental research with quantitative investing can produce strong strategies. Shuggi highlighted the T. Rowe Price Capital Appreciation Premium Income ETF, which charges 34 basis points and uses a covered call strategy to generate income, as an example where both toolsets inform risk assessment. He noted that AI remains a key trend, with investors seeking to maintain exposure while balancing portfolios against potential pullbacks. The firm’s approach starts with multifactor stock selection models that incorporate fundamental insights, then combines them with analyst ratings to improve hit rates.
T. Rowe Price's AUM Rises 9.1% to $1.71 Trillion, but $13.7 Billion in Net Outflows Persist
T. Rowe Price's average assets under management increased 9.1% year over year to $1.71 trillion in the first quarter of 2026, supporting a 5.3% rise in net revenues to $1.86 billion. The company recorded firmwide net outflows of $13.7 billion during the quarter, driven by continued pressure in U.S. equity products, though multi-asset, fixed income, and alternative strategies posted positive net flows. Investment advisory fees tied to AUM levels generated 90.6% of net revenues as of March 31, 2026. T. Rowe Price is expanding its alternative credit offerings through Oak Hill Advisors to reduce dependence on traditional equity strategies, while acknowledging that stress in private credit markets could dampen investor appetite and increase redemption risks.
T. Rowe Price announces strategic enhancements to its U.S. institutional business
T. Rowe Price announced a series of strategic enhancements to its U.S. institutional business model. The changes include defining a holistic model for strategic institutional relationships, launching a dedicated four-person national field consultant coverage team, and creating a U.S. Institutional key accounts practice. The firm will move away from separate sales and service roles, with each U.S. region operating as an integrated team under a single leader. Leadership changes include Kyle Lagratta and Chris Tarui co-heading relationship management, while Kim Young will lead the new key accounts practice. T. Rowe Price manages 1.89 trillion dollars in assets under management as of May 31, 2026.
T. Rowe Price Midyear Outlook Signals Small-Cap Shift as AI Spending Broadens
T. Rowe Price's 2026 midyear market outlook signals a broad shift in market leadership away from the largest technology companies, renewing attention on small-cap stocks. The firm argues that massive AI infrastructure spending is pressuring free cash flow and altering return profiles for mega-cap tech, while small-cap and value stocks have outperformed year-to-date through May 29 as earnings growth spreads beyond the benchmark's largest names. AI spending is now moving into power, data center infrastructure, electrical equipment, and cooling systems, making it less a technology story and more a broad industrial investment cycle. Two T. Rowe Price ETFs offer exposure to this shift: the T. Rowe Price Small-Mid Cap ETF, with $2.43 billion in assets, returned 20.1% year-to-date, while the T. Rowe Price Active Core U.S. Equity ETF, holding $14.2 million in assets, returned 10.2% year-to-date.
StockStory flags PACCAR, Blink Charging, and T. Rowe Price as cash-heavy stocks with warning signs
StockStory identifies PACCAR, Blink Charging, and T. Rowe Price as companies with large net cash positions that also face operational challenges. PACCAR holds $8.60 billion in net cash, equal to 13.9% of its market cap, but its sales fell 11.4% annually over the last two years and earnings per share dropped 30.2% annually over the same period. Blink Charging has a net cash position of $33.19 million, representing 33.9% of its market cap, yet its sales declined 18.7% annually over two years and it faces cash burn and a short runway that could lead to shareholder dilution. T. Rowe Price sits on $3.71 billion in net cash, or 16% of its market cap, while its five-year revenue growth of 2.6% lagged the typical financials company and earnings per share fell 1.4% annually over that stretch.
T. Rowe Price reports $3.3 billion May net inflows and partners with ICE on AI analytics
T. Rowe Price Group reported $1.89 trillion in assets under management for May with $3.30 billion in net inflows, and was named an anchor client for Intercontinental Exchange's new AI-powered fixed income trading analytics platform, ICE Compass. The strong inflows support the firm's ability to attract assets despite industry fee pressure and the rise of passive products. The ICE Compass partnership does not materially alter the structural risk of fee compression but could modestly support the near-term growth catalyst of improving flows. The firm also plans a June launch of the T. Rowe Price Capital Appreciation Market Opportunities ETF, expanding its actively managed ETF lineup.
Intercontinental Exchange Launches AI-Powered ICE Compass for Fixed-Income Trading
Intercontinental Exchange Inc. has launched ICE Compass, an artificial intelligence-powered trading analytics platform tailored for fixed-income trading desks. The platform provides counterparty rankings and price estimates, combining real-time and historical data with ICE's market data and pricing streams. It processes bids, offers, indications of interest, and other pricing data points, while tracking intraday market movements, trading costs, and trading behaviors to support counterparty selection and pre-trade cost analysis. T. Rowe Price has been secured as the first anchor client, having provided insights during the development phase.
Franklin Templeton Expands Canvas Platform With Tax Overlay for MFS, Federated Hermes, and T. Rowe Price
Franklin Templeton launched its Preferred Partner Program, an expansion of its Canvas platform that lets third-party asset managers offer tax-managed versions of their strategies. MFS Investment Management, Federated Hermes, and T. Rowe Price are the first to join, starting with separately managed accounts that pair each manager's investment expertise with Canvas's tax overlay capabilities. The platform provides tax-loss harvesting, tax-aware transitions, annual tax budgets, concentrated stock diversification, client-specific restrictions, and after-tax reporting at the individual account level. Franklin Templeton says the program broadens advisor choice and makes tax-aware customization more accessible across a wider range of strategies.