1Q Market Rally Lifts T. Rowe Price's Near-Term Outlook; Increased FVE to $116 per Share
We've increased our fair value estimate for wide-moat-rated T. Rowe Price to $116 per share from $106 following slightly better first-quarter results than we were forecasting. T. Rowe Price closed out the March quarter with $1.082 trillion in managed assets, up 12.4% sequentially and 6.7% year over year, driven primarily by stronger equity markets. Net inflows of $5.4 billion were a marked recovery from the $8.4 billion in outflows that the company saw during the fourth quarter, as investors sta...T. Rowe Price Group is a financial services holding company that provides global investment management services. The company provide a range of United States mutual funds, subadvised funds, separately managed accounts, and other T. Rowe Price products. The company also provides certain investment advisory clients with related administrative services, including distribution, mutual fund transfer agent, accounting, and shareholder services; participant recordkeeping and transfer agent services for defined contribution retirement plans; brokerage; and trust services. The company also provide non-discretionary advisory planning services to fund shareholders and potential investors.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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