Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

T. Rowe Price Rises Most in Two Years as Profit Jumps

T. Rowe Price Group Inc., the asset manager that posted a profit every quarter since going public in 1986, rose the most in more than two years after fourth-quarter profit jumped 24 percent.

T. Rowe rose as much as 5.7 percent, the most since November 2011, after reporting net income of $284.8 million, or $1.06 a share, for the three months ended Dec. 31, compared with $229.9 million, or 88 cents, a year earlier. The stock rose 4.7 percent to $80.11 at 12:17 p.m. in New York.

T. Rowe benefited from a 30 percent rally by the Standard & Poor’s 500 Index of U.S. stocks in 2013, which helped to boost assets to a record $692.4 billion. Clients added about $100 million in net new money as retail customers made deposits, primarily through retirement-oriented products, while institutional clients withdrew money.

Institutional withdrawals were largely driven by one large, non-U.S. client that has been pulling money out for multiple quarters, Chief Executive Officer James Kennedy said today in an interview. Kennedy said the client’s withdrawals were “almost done.”

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.