Analyst Consensus ?
ConsensusHold37 ratings
Bullish821.6%
Neutral2362.2%
Bearish616.2%
T. Rowe Price Group, Inc. · TROW · FY2024 Q4 · Calendar Q1 2025
T. Rowe Price highlights ETF and retirement growth amid outflows
The supplied analysis supports a cautiously constructive operating thesis: ETF, target-date, insurance, and alternatives initiatives are gaining traction, but sustained improvement depends on converting those channels into durable flows while managing fee and cost pressure.
Reported Before market openNASDAQFinancial Services
$22.23B market cap
80quality score
Earnings scorecard
Reported versus consensus
Reported EPS
—
Consensus $2.20
EPS surprise
—
Reported versus consensus
Reported revenue
—
Consensus $1.88B
Revenue surprise
—
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
-4.2%
Event window
SPY move
+0.4%
Same window
Abnormal move
-4.6%
Stock minus SPY
Volume
2.0×
Versus trailing sessions
Subsequent drift
-10.7%
Up to 20 sessions
TROWSPY benchmark
Ask FN2 about TROW FY2024 Q4
Transcript, numbers and history already loaded
What drove TROW's -4.2% move after FY2024 Q4 earnings?What changed in TROW's guidance and outlook in FY2024 Q4?Give me the bull and bear case for TROW after FY2024 Q4 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior-quarter analysis, the focus shifted from a large expected variable-annuity redemption and product rollout to evidence of improved full-year outflows, stronger ETF and target-date inflows, and broader insurance and alternatives capabilities. Fee compression, regulation, and cost discipline remain central constraints.
Guidance delta
Management guidance sentiment was maintained; no new numerical guidance was supplied in the analysis.
Key takeaways
- Management highlighted ETF expansion, with the franchise at nearly $8 billion of AUM and $4.7 billion of net inflows.
- The target-date franchise generated $16.3 billion of inflows, while full-year net outflows were $43.2 billion.
- Insurance and alternatives capabilities expanded through the Aspida-Ares partnership and new fund launches.
- Cost discipline, fee compression, and regulatory limits remain important counterweights to the growth initiatives.
Management priorities
- Expand the ETF lineup, including premium-income and hedged-equity products.
- Develop personalized retirement, managed-lifetime-income, and target-date offerings.
- Build insurance, private-credit, and public-private investment capabilities.
- Continue AI/ML investment and pursue structural cost savings of 2–3% annually.
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Beat
Miss
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Analyst 52W Price Targets
$104.2Current
$87Low
$118.82Average
$215High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 25, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Oct 23, 2026 |
| Barclays | Underweight | Underweight | Maintain | Oct 14, 2026 |
| JP Morgan | Underweight | Underweight | Maintain | Oct 13, 2026 |
| BMO Capital | Market Perform | Market Perform | Maintain | Oct 13, 2026 |
| TD Cowen | Hold | Hold | Maintain | Oct 12, 2026 |
| Evercore ISI Group | In Line | In Line | Maintain | Oct 9, 2026 |
| Keefe, Bruyette & Woods | Market Perform | Market Perform | Maintain | Aug 3, 2026 |
| Goldman Sachs | Sell | Sell | Maintain | Apr 7, 2026 |
| B of A Securities | Underperform | Underperform | Maintain | Oct 2, 2025 |
| Wells Fargo | Equal Weight | Equal Weight | Maintain | Jul 11, 2025 |
| Citigroup | Neutral | Neutral | Maintain | Apr 14, 2025 |
| Deutsche Bank | Hold | Hold | Maintain | Nov 11, 2024 |
| UBS | Sell | Sell | Maintain | Apr 12, 2024 |
| Jefferies | Hold | Hold | Maintain | Oct 10, 2023 |
| Stifel | Hold | Hold | Maintain | Oct 5, 2023 |
| RBC Capital | Sector Perform | Sector Perform | Maintain | Oct 5, 2023 |
| Credit Suisse | Neutral | Neutral | Maintain | Mar 30, 2023 |
| SunTrust Robinson Humphrey | Hold | Buy | Downgrade | May 10, 2020 |
| CFRA | Buy | Strong Buy | Downgrade | Mar 31, 2020 |
| Berenberg | Hold | Hold | Maintain | Nov 15, 2019 |
| Bernstein | Underperform | Market Perform | Downgrade | Nov 13, 2018 |
| Stephens & Co. | Overweight | Overweight | Maintain | Aug 21, 2018 |
| Argus | Hold | Buy | Downgrade | May 5, 2018 |
| Bank of America | Buy | Neutral | Upgrade | Jan 8, 2018 |
| Stifel Nicolaus | Buy | Hold | Upgrade | Oct 30, 2017 |
| Argus Research | Hold | Buy | Downgrade | Apr 26, 2017 |
| Keefe Bruyette & Woods | Market Perform | Market Perform | Maintain | Oct 14, 2016 |
| Susquehanna | Positive | Positive | Maintain | Sep 3, 2015 |
| PiperJaffray | Neutral | Neutral | Maintain | Jun 3, 2015 |
| Evercore Partners | Equal Weight | Overweight | Downgrade | Jul 10, 2014 |
| KeyBanc | Hold | Buy | Downgrade | Jun 18, 2014 |
| Sandler O'Neill | Buy | Hold | Upgrade | Apr 25, 2014 |
| Piper Sandler | Buy | Hold | Upgrade | Apr 25, 2014 |
| S&P Capital IQ | Buy | Strong Buy | Downgrade | Dec 18, 2013 |
| Edward Jones | Hold | Hold | Maintain | Dec 14, 2012 |
| Sterne Agee | Neutral | Neutral | Maintain | Oct 24, 2012 |
| Bank oferica | Neutral | Neutral | Maintain | Apr 25, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $104.2. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Morgan Stanley | Analyst unavailable | $112 | $102.46 | +7.5% | Oct 23, 2026 |
| Evercore ISI | Glenn Schorr | $109 | $104.94 | +4.6% | Oct 9, 2026 |
| UBS | Analyst unavailable | $107 | $103.16 | +2.7% | Oct 7, 2026 |
| Morgan Stanley | Analyst unavailable | $110 | $104.27 | +5.6% | Sep 25, 2026 |
| UBS | Analyst unavailable | $110 | $110.97 | +5.6% | Aug 31, 2026 |
| Evercore ISI | Analyst unavailable | $118 | $113.79 | +13.2% | Aug 10, 2026 |
| Deutsche Bank | Analyst unavailable | $109 | $112.73 | +4.6% | Aug 3, 2026 |
| BMO Capital | Analyst unavailable | $120 | $111.75 | +15.2% | Aug 3, 2026 |
| Morgan Stanley | Analyst unavailable | $116 | $120.39 | +11.3% | Jul 29, 2026 |
| Barclays | Benjamin Budish | $108 | $113.65 | +3.6% | Jul 14, 2026 |
| Evercore ISI | Analyst unavailable | $121 | $119.04 | +16.1% | Jul 10, 2026 |
| Morgan Stanley | Michael Cyprys | $109 | $109.08 | +4.6% | Jun 26, 2026 |
| Evercore ISI | Glenn Schorr | $111 | $106.29 | +6.5% | Jun 8, 2026 |
| Evercore ISI | Glenn Schorr | $104 | $103.71 | -0.2% | May 1, 2026 |
| Barclays | Benjamin Budish | $89 | $102.88 | -14.6% | May 1, 2026 |
| Morgan Stanley | Michael Cyprys | $105 | $99.38 | +0.8% | Apr 27, 2026 |
| Barclays | Analyst unavailable | $87 | $95.75 | -16.5% | Apr 17, 2026 |
| Evercore ISI | Glenn Schorr | $96 | $91.97 | -7.9% | Apr 10, 2026 |
| BMO Capital | Analyst unavailable | $98 | $91.97 | -6.0% | Apr 10, 2026 |
| Morgan Stanley | Analyst unavailable | $115 | $97.27 | +10.4% | Feb 10, 2026 |
| Evercore ISI | Analyst unavailable | $106 | $92.94 | +1.7% | Feb 5, 2026 |
| KBW | Analyst unavailable | $110 | $93.43 | +5.6% | Feb 5, 2026 |
| Barclays | Analyst unavailable | $94 | $97.02 | -9.8% | Feb 5, 2026 |
| Morgan Stanley | Michael Cyprys | $123 | $105.98 | +18.0% | Feb 3, 2026 |
| Morgan Stanley | Analyst unavailable | $128 | $105.9 | +22.8% | Dec 17, 2025 |
| Barclays | Analyst unavailable | $102 | $104.96 | -2.1% | Dec 12, 2025 |
| Barclays | Analyst unavailable | $101 | $102.53 | -3.1% | Nov 3, 2025 |
| Morgan Stanley | Michael Cyprys | $126 | $105.34 | +20.9% | Oct 27, 2025 |
| Barclays | Benjamin Budish | $103 | $104.24 | -1.2% | Oct 21, 2025 |
| Morgan Stanley | Analyst unavailable | $125 | $103.28 | +20.0% | Oct 6, 2025 |
| Evercore ISI | Analyst unavailable | $115 | $108.16 | +10.4% | Sep 5, 2025 |
| Barclays | Benjamin Budish | $90 | $91.43 | -13.6% | May 5, 2025 |
| Citigroup | Chris Allen | $125 | $115.49 | +20.0% | Jul 26, 2024 |
| Goldman Sachs | Alexander Blostein | $113 | $118.39 | +8.4% | Jun 12, 2024 |
| Evercore ISI | Glenn Schorr | $116 | $114.49 | +11.3% | Jun 12, 2024 |
| Evercore ISI | Glenn Schorr | $107 | $112.08 | +2.7% | Apr 30, 2024 |
| Deutsche Bank | Brian Bedell | $113 | $116.26 | +8.4% | Apr 5, 2024 |
| Evercore ISI | Glenn Schorr | $108 | $117.85 | +3.6% | Mar 12, 2024 |
| BMO Capital | James Fotheringham | $115 | $127.77 | +10.4% | Aug 9, 2022 |
| BMO Capital | James Fotheringham | $135 | $114.85 | +29.6% | Jun 13, 2022 |
| Morgan Stanley | Analyst unavailable | $155 | $125.28 | +48.8% | May 2, 2022 |
| BMO Capital | Analyst unavailable | $160 | $122.98 | +53.6% | May 2, 2022 |
| Citigroup | Analyst unavailable | $90 | $127.3 | -13.6% | Apr 29, 2022 |
| Morgan Stanley | Analyst unavailable | $170 | $135.36 | +63.1% | Apr 25, 2022 |
| Morgan Stanley | Michael Cyprys | $178 | $143.07 | +70.8% | Apr 11, 2022 |
| Deutsche Bank | Brian Bedell | $159 | $143.47 | +52.6% | Feb 20, 2022 |
| Barclays | Jeremy Campbell | $160 | $170.01 | +53.6% | Apr 19, 2021 |
| Wells Fargo | Christopher Harris | $215 | $167.98 | +106.3% | Apr 14, 2021 |
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Start freeCompany context
Snapshot as of publicationT. Rowe Price Group, Inc. operates as a publicly traded entity specializing in investment management. The firm extends its financial expertise to a diverse range of clients, including individual investors, institutional organizations, retirement benefit plans, and financial intermediaries. It is responsible for the establishment and ongoing management of both equity and fixed income mutual funds. The company's investment activities encompass public stock and bond markets worldwide. Employing a bottom-up methodology, the firm integrates both fundamental and quantitative analysis, leveraging insights from both internal research capabilities and external sources for its investment decisions. A core tenet of its investment philosophy is socially responsible investing, with a significant emphasis on environmental, social, and governance (ESG) factors. Furthermore, T.…
Historical context
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2025-01-22T00:04:22.296664+00:00
- Polygon adjusted daily market bars · 2026-10-25T09:10:45.207129+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-25T09:10:45.205077+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-25. For educational purposes only; not investment advice.