4Q Market Sell-Off and Outflows Mar T. Rowe Price's Solid 2018 Results; No Change to FVE
There was little in wide-moat-rated T. Rowe Price's fourth-quarter results that would alter our long-term view of the firm. We are leaving our $112 per share fair value estimate in place. T. Rowe Price closed out the December quarter with $962.3 trillion in managed assets, down 11.2% sequentially and 2.9% year over year. Net outflows of $8.4 billion were expected, given the sell-off in the equity markets during the fourth quarter, but did detract from the $21.6 billion in positive flows that the...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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