T. Rowe Price Reports 2024 Financial Performance

T. Rowe Price Group ( (TROW) ) has released its Q4 earnings. Here is a breakdown of the information T. Rowe Price Group presented to its investors.

T. Rowe Price Group, Inc., a renowned global asset management company, is recognized for its investment excellence, retirement leadership, and independent proprietary research, serving millions of clients globally with $1.61 trillion in assets under management as of December 31, 2024. The recently released earnings report highlights the company’s financial performance for the fourth quarter and full year of 2024, showcasing both achievements and challenges. Despite experiencing net client outflows of $19.3 billion in the fourth quarter and $43.2 billion for the year, T. Rowe Price maintained a strong position with assets under management totaling $1.61 trillion by the end of the year. The company reported diluted earnings per share (EPS) of $1.92 for the fourth quarter and $9.15 for the year, with adjusted diluted EPS at $2.12 for the quarter and $9.33 for the year. In 2024, the firm returned $1.5 billion to stockholders through dividends and stock repurchases. Key financial metrics include a 11.1% increase in net revenues for the fourth quarter compared to the same period in 2023, and a 17.4% increase in net income for the year. Operating expenses saw a marginal increase, while net operating income rose significantly by 17.5% for the year. The firm is actively expanding its ETF business and insurance channel, and has extended its target date franchise into Canada. Looking forward, T. Rowe Price management remains optimistic about reducing net outflows further and anticipates positive growth in client flows, continuing its strategic initiatives to strengthen its market position.