T. Rowe Price Group announced better-than-expected fourth-quarter earnings on Friday as assets under management soared on inflows, particularly to target-date retirement portfolios.

The firm reported net revenues of $647.5 million, up from $542.6 million, net income of $191.6 million, up from $152.5 million, and diluted earnings per common share of $.72, a jump of 26% from the $.57 per share in the prior year. Assets Under Management rose to $90.7 billion during the year to hit a record $482 billion.

Register or login for access to this item and much more

All Financial Planning content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access