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T. Rowe Price Group (TROW) Records Improved AUM in July

Zacks

T. Rowe Price Group, Inc. TROW announced preliminary assets under management (AUM) of $927 billion for July 2017. Results displayed 2.5% rise from $904 billion as of Jun 30, 2017. Moreover, the figure inched up 14.3% from the prior-year quarter.

Client transfers from mutual funds to other portfolios of $3.8 billion were recorded in July 2017.

Month-end total sponsored U.S. mutual funds came in at $575 billion, up 1.4% from the prior month and 11.9% year over year. Of the total sponsored U.S. mutual funds, around 78.8% were from stock and blended assets while the remaining 21.2% came from bond and money market.

Total other investment portfolios were $352 billion, up 4.5% from the previous month and 18.5% from $297 billion in July 2016. Overall, stock and blended assets accounted for $265 billion or 75.3% of other investment portfolios while bond, money market and stable value came in at $87 billion or 24.7%.


T. Rowe recorded $219 billion in target date retirement portfolios, which was up around 2.3% from $214 billion in the prior month and 15.9% from $189 billion in July 2016.

Performance of Other Investment Managers

Franklin Resources Inc. BEN announced preliminary AUM by its subsidiaries of $752.7 billion for Jul 2017. Results displayed 1.3% rise from $742.8 billion as of Jun 30, 2017. Moreover, the figure inched up 1.7% from the prior-year quarter.

Invesco IVZ announced an increase in its preliminary month-end AUM for Jul 2017. The company’s AUM came in at $876.9 billion, up 2.2% from $858.3 billion in the prior month.

Our Viewpoint

Though the company’s business model helps it diversify its AUM, regulatory restrictions and sluggish economic recovery might impair growth and escalate costs. Moreover, T. Rowe is subject to numerous regulations by the U.S. and non-U.S. regulators, which pose concerns for its operations and may even hurt profitability.

The company’s stock has gained 10.1% year to date, underperforming 19.4% rally of the industry it belongs to.

T. Rowe currently carries a Zacks Rank #2 (Buy).

Another stock worth considering in the same space is Cohen & Steers CNS. The company’s shares have risen 18.7% year to date. The Zacks Consensus Estimate for the current year earnings was revised 2.6% upward, in the last 30 days. The stock currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

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