Analyst Consensus ?
ConsensusHold37 ratings
Bullish821.6%
Neutral2362.2%
Bearish616.2%
T. Rowe Price Group, Inc. · TROW · FY2025 Q3 · Calendar Q4 2025
T. Rowe Price pairs record AUM with a broad product pipeline
The supplied analysis supports a constructive but execution-dependent view: record AUM, retirement and ETF expansion, and the Goldman Sachs collaboration broaden potential growth channels. The case is tempered by U.S. equity outflows, uncertain adoption and economics for new products, regulatory risk, and the absence of explicit guidance sentiment.
Reported Before market openNASDAQFinancial Services
$22.42B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$2.81
Consensus $2.54
EPS surprise
+10.6%
Reported versus consensus
Reported revenue
$1.89B
Consensus $1.88B
Revenue surprise
+0.6%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+0.4%
Event window
SPY move
+0.3%
Same window
Abnormal move
+0.1%
Stock minus SPY
Volume
2.4×
Versus trailing sessions
Subsequent drift
-0.9%
Up to 20 sessions
TROWSPY benchmark
Ask FN2 about TROW FY2025 Q3
Transcript, numbers and history already loaded
Why did TROW rise 0.4% after beating EPS estimates in FY2025 Q3?What changed in TROW's guidance and outlook in FY2025 Q3?Give me the bull and bear case for TROW after FY2025 Q3 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Relative to the prior quarter, the company shifted from highlighting ETF and target-date momentum to emphasizing a Goldman Sachs collaboration, a larger ETF pipeline, managed accounts, multi-asset public-private offerings and a multi-token crypto ETF filing. Expense actions continued, including headcount reduction and planned real-estate transitions.
Guidance delta
No explicit guidance sentiment was provided in the supplied analysis; management outlined product rollouts through 2026 rather than issuing a quantified outlook.
Key takeaways
- AUM reached a record $1.77 trillion, supported by retirement, fixed income and ETF inflows.
- A Goldman Sachs collaboration expands planned retirement, model-portfolio, multi-asset and managed-account offerings.
- ETF expansion, digital-asset initiatives and expense actions are growth and efficiency themes, while U.S. equity outflows remain a risk.
Management priorities
- Execute the Goldman Sachs product rollout across retirement and wealth channels
- Expand active ETFs, managed accounts and private-market solutions
- Advance digital-asset products while managing expenses and real-estate restructuring
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Estimate
Beat
Miss
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Analyst 52W Price Targets
$103.6Current
$87Low
$119Average
$215High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 6, 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 | Sep 25, 2026 |
| Evercore ISI Group | In Line | In Line | Maintain | Sep 9, 2026 |
| TD Cowen | Hold | Hold | Maintain | Aug 31, 2026 |
| Keefe, Bruyette & Woods | Market Perform | Market Perform | Maintain | Aug 3, 2026 |
| BMO Capital | Market Perform | Market Perform | Maintain | Aug 3, 2026 |
| Barclays | Underweight | Underweight | Maintain | Aug 3, 2026 |
| JP Morgan | Underweight | Underweight | Maintain | Apr 24, 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 $103.6. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Morgan Stanley | Analyst unavailable | $110 | $104.27 | +6.2% | Sep 25, 2026 |
| UBS | Analyst unavailable | $110 | $110.97 | +6.2% | Aug 31, 2026 |
| Evercore ISI | Analyst unavailable | $118 | $113.79 | +13.9% | Aug 10, 2026 |
| Deutsche Bank | Analyst unavailable | $109 | $112.73 | +5.2% | Aug 3, 2026 |
| BMO Capital | Analyst unavailable | $120 | $111.75 | +15.8% | Aug 3, 2026 |
| Morgan Stanley | Analyst unavailable | $116 | $120.39 | +12.0% | Jul 29, 2026 |
| Barclays | Benjamin Budish | $108 | $113.65 | +4.2% | Jul 14, 2026 |
| Evercore ISI | Analyst unavailable | $121 | $119.04 | +16.8% | Jul 10, 2026 |
| Morgan Stanley | Michael Cyprys | $109 | $109.08 | +5.2% | Jun 26, 2026 |
| Evercore ISI | Glenn Schorr | $111 | $106.29 | +7.1% | Jun 8, 2026 |
| Evercore ISI | Glenn Schorr | $104 | $103.71 | +0.4% | May 1, 2026 |
| Barclays | Benjamin Budish | $89 | $102.88 | -14.1% | May 1, 2026 |
| Morgan Stanley | Michael Cyprys | $105 | $99.38 | +1.4% | Apr 27, 2026 |
| Barclays | Analyst unavailable | $87 | $95.75 | -16.0% | Apr 17, 2026 |
| Evercore ISI | Glenn Schorr | $96 | $91.97 | -7.3% | Apr 10, 2026 |
| BMO Capital | Analyst unavailable | $98 | $91.97 | -5.4% | Apr 10, 2026 |
| Morgan Stanley | Analyst unavailable | $115 | $97.27 | +11.0% | Feb 10, 2026 |
| Evercore ISI | Analyst unavailable | $106 | $92.94 | +2.3% | Feb 5, 2026 |
| KBW | Analyst unavailable | $110 | $93.43 | +6.2% | Feb 5, 2026 |
| Barclays | Analyst unavailable | $94 | $97.02 | -9.3% | Feb 5, 2026 |
| Morgan Stanley | Michael Cyprys | $123 | $105.98 | +18.7% | Feb 3, 2026 |
| Morgan Stanley | Analyst unavailable | $128 | $105.9 | +23.6% | Dec 17, 2025 |
| Barclays | Analyst unavailable | $102 | $104.96 | -1.5% | Dec 12, 2025 |
| Barclays | Analyst unavailable | $101 | $102.53 | -2.5% | Nov 3, 2025 |
| Morgan Stanley | Michael Cyprys | $126 | $105.34 | +21.6% | Oct 27, 2025 |
| Barclays | Benjamin Budish | $103 | $104.24 | -0.6% | Oct 21, 2025 |
| Morgan Stanley | Analyst unavailable | $125 | $103.28 | +20.7% | Oct 6, 2025 |
| Evercore ISI | Analyst unavailable | $115 | $108.16 | +11.0% | Sep 5, 2025 |
| Barclays | Benjamin Budish | $90 | $91.43 | -13.1% | May 5, 2025 |
| Citigroup | Chris Allen | $125 | $115.49 | +20.7% | Jul 26, 2024 |
| Goldman Sachs | Alexander Blostein | $113 | $118.39 | +9.1% | Jun 12, 2024 |
| Evercore ISI | Glenn Schorr | $116 | $114.49 | +12.0% | Jun 12, 2024 |
| Evercore ISI | Glenn Schorr | $107 | $112.08 | +3.3% | Apr 30, 2024 |
| Deutsche Bank | Brian Bedell | $113 | $116.26 | +9.1% | Apr 5, 2024 |
| Evercore ISI | Glenn Schorr | $108 | $117.85 | +4.2% | Mar 12, 2024 |
| BMO Capital | James Fotheringham | $115 | $127.77 | +11.0% | Aug 9, 2022 |
| BMO Capital | James Fotheringham | $135 | $114.85 | +30.3% | Jun 13, 2022 |
| Morgan Stanley | Analyst unavailable | $155 | $125.28 | +49.6% | May 2, 2022 |
| BMO Capital | Analyst unavailable | $160 | $122.98 | +54.4% | May 2, 2022 |
| Citigroup | Analyst unavailable | $90 | $127.3 | -13.1% | Apr 29, 2022 |
| Morgan Stanley | Analyst unavailable | $170 | $135.36 | +64.1% | Apr 25, 2022 |
| Morgan Stanley | Michael Cyprys | $178 | $143.07 | +71.8% | Apr 11, 2022 |
| Deutsche Bank | Brian Bedell | $159 | $143.47 | +53.5% | Feb 20, 2022 |
| Barclays | Jeremy Campbell | $160 | $170.01 | +54.4% | Apr 19, 2021 |
| Wells Fargo | Christopher Harris | $215 | $167.98 | +107.5% | Apr 14, 2021 |
Track every rating change on TROW the moment it posts. Free to start.
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
All TROW earningsFinancial Services peers this season
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|---|---|---|---|---|
| FDS FactSet Research Systems Inc. | FY2026 Q4 · Calendar Q3 2026 | +3.9% | +3.8% | FactSet reports record FY26 results as AI and MCP adoption accelerate |
| PUK Prudential plc | FY2026 Q2 · Calendar Q3 2026 | -40.9% | -0.5% | Prudential sustains growth and capital returns focus in H1 2026 |
| CM Canadian Imperial Bank of Commerce | FY2026 Q3 · Calendar Q3 2026 | +8.9% | -2.8% | CIBC Q3: Broad growth, resilient credit and expanded AI rollout |
| TD The Toronto-Dominion Bank | FY2026 Q3 · Calendar Q3 2026 | +13.8% | +1.4% | TD emphasizes growth investments alongside disciplined capital management |
| RY Royal Bank of Canada | FY2026 Q3 · Calendar Q3 2026 | +6.2% | -1.3% | RBC reports record Q3 earnings while investing for growth |
| AFRM Affirm Holdings, Inc. | FY2026 Q4 · Calendar Q3 2026 | +1230.3% | +0.3% | Affirm's most profitable quarter shifts focus to product execution |
Latest beats and misses
Who reports nextBeat on EPS
- ACNFY2026 Q4 · October 1, 2026+3.5% EPS+15.8% move
- MKCFY2026 Q3 · October 1, 2026+13.9% EPS-4.9% move
- NKEFY2027 Q1 · October 1, 2026+10.0% EPS-0.7% move
- CAGFY2027 Q1 · September 30, 2026+44.4% EPS-4.9% move
- FDSFY2026 Q4 · September 30, 2026+3.9% EPS+3.8% move
- JBLFY2026 Q4 · September 30, 2026+8.1% EPS-10.0% move
Get the TROW recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-10-05T20:30:44.621441+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-05T20:30:44.618636+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 2026-10-05. For educational purposes only; not investment advice.