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T. Rowe Price's earnings down 4 percent; assets under management up 2 percent

T. Rowe Price's earnings down 4 percent; assets under management up 2 percent

T. Rowe Price Group's earnings were down 4 percent to $303.2 million in the last thee months of the year amid a rocky market, but the assets it manages rose by 2 percent, the Baltimore-based money manager reported Thursday.

The company's stock price soared in trading, closing up 3.3 percent to $68.42 a share.

Earnings per share were $1.17 in the quarter, compared to $1.18 in the same period the year before. For all of 2015, Price earned $1.22 billion, off just 1 percent from the year before.

Assets under management were $763.1 billion at the end of 2015, an increase of $16.3 billion from the end of 2014.

"I think it was a very solid quarter for T. Rowe Price...

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