t rowe price group inc (TROW) Key Developments
T. Rowe Price Group, Inc. Presents at Wells Fargo 2015 Asset Managers, Brokers & Exchanges Forum, Mar-18-2015
Mar 6 15
T. Rowe Price Group, Inc. Presents at Wells Fargo 2015 Asset Managers, Brokers & Exchanges Forum, Mar-18-2015 . Venue: JM Marriott, 151 W. Adams Street, Chicago, IL 60603, United States. Speakers: Mehmet Kinak, VP & Head of Equity Market Structure & Electronic Trading.
T. Rowe Price Group, Inc. Presents at Citi Asset Manager, Broker Dealer and Exchanges Investor Conference, Mar-10-2015
Feb 20 15
T. Rowe Price Group, Inc. Presents at Citi Asset Manager, Broker Dealer and Exchanges Investor Conference, Mar-10-2015 . Venue: Citi Conference Center, 153 East 53rd Street, 14th Floor, New York, NY 10022, United States.
T. Rowe Price Group Declares Special and Quarterly Cash Dividends, Payable on April 23, 2015 and March 30, 2015 Respectively
Feb 19 15
T. Rowe Price Group, Inc. announced that its Board of Directors has declared a special cash dividend of $2.00 per share payable April 23, 2015 to stockholders of record as of the close of business on April 9, 2015. The Board also declared a quarterly dividend of $0.52 per share payable March 30, 2015 to stockholders of record as of the close of business on March 16, 2015. The quarterly dividend rate represents an 18% increase over the previous quarterly dividend rate of $0.44 per share.
T. Rowe Price Launches Global Unconstrained Bond Fund and Global High Income Bond Fund
Feb 18 15
T. Rowe Price has launched the Global Unconstrained Bond Fund and the Global High Income Bond Fund. The two new funds are designed to help long-term investors navigate increasingly uncertain fixed income markets, which are characterized by unprecedented low yields, uncertainty surrounding interest rates, and diverging global monetary policies. While both funds were created to play supporting roles in an investor's portfolio, the Global Unconstrained Bond Fund focuses more on downside protection, while the Global High Income Bond Fund focuses more on capturing upside potential. Global Unconstrained Bond Fund - the fund seeks to offer some protection against rising rates, with a low correlation to equity markets; through a flexible, benchmark-agnostic approach, the fund will aim to offer low volatility and consistent income, even in rising interest rate environments; the fund will seek to achieve this by: investing at least 80% of its assets in bonds; focusing mainly on investment-grade securities, with exposure to noninvestment-grade securities (up to 30% of its assets); investing in a variety of debt securities, including obligations issued by U.S. and foreign governments and corporations, bank loans, and mortgage- and asset-backed securities; investing at least 40% of its assets in foreign securities, including emerging market debt, which may be denominated in U.S. dollars or non-U.S. currencies; managing the maturities of the fund's holdings based on Mr. Arif Husain's outlook for interest rates and not attempting to maintain a particular weighted average maturity; using interest rate futures, interest rate and credit default swaps, and forward currency exchange contracts, primarily to manage interest rate exposure and limit the fund's volatility; retaining the traditionally attractive characteristics of fixed income investments, including liquidity and diversification; the net expense ratio is estimated to be 0.75% for the investor class shares and 0.90% for the advisor class shares. Global High Income Bond Fund - the fund seeks to provide high income and, secondarily, capital appreciation by investing in high yield bonds issued by companies around the world; with the fund's neutral weighting, about 50% of its assets would be invested in U.S. bonds, 30% in European bonds, and 20% in emerging market bonds; the fund will seek to generate higher long-term total returns than U.S.-based credit strategies and its benchmark, the BofA/ML Global High Yield Index, by: overlaying a top-down outlook on bottom-up fundamental research generated by both credit and equity research analysts; relying on the firm's global research platform of 212 analysts stationed around the globe; investing in approximately 125 to 150 issuers across about 30 countries; limiting the fund's exposure to investment-grade debt to 15%; investing up to 20% of the fund's assets in bank loans and up to 5% in equities. The minimum initial investment for both funds is $2,500, or $1,000 for retirement accounts or gifts or transfers to minors (UGMA/UTMA) accounts.
T. Rowe Price Group, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Capital Expenditure and Tax Rate Guidance for the Full Year 2015
Jan 28 15
T. Rowe Price Group, Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported net revenues of $1.0 billion, net income of $315.9 million, and diluted earnings per common share of $1.18. On a comparable basis, net revenues were $929.8 million, net income was $287.7 million, and diluted earnings per common share was $1.06 in the fourth quarter of 2013. Net operating income was $480.0 million compared to $440.1 million a year ago. Income before income taxes were $518.8 million compared to $471.8 million a year ago.
For the year, the company reported net revenues of $3,982.1 million compared to $3,484.2 million a year ago. Net operating income was $1,890.9 million compared to $1,637.4 million a year ago. Income before income taxes were $2,003.1 million compared to $1,700.4 million a year ago. Net income was $1,229.6 million compared to $1,047.7 million a year ago. Diluted earnings per share were $4.55 compared to $3.90 a year ago.
The firm currently estimates that its effective rate for the full-year 2015 will be about 38.5%. The firm currently expects total capital expenditures for facilities, equipment, and technology development for 2015 to be up to $175 million, which will be funded from operating resources.