xml:space="preserve">
xml:space="preserve">
Advertisement
Advertisement

Earnings jump 17.5% at T. Rowe Price Group in second quarter

T. Rowe Price Group reported Wednesday that it earned $527.5 million in the second quarter, up 17.5% from the same period a year earlier.

Earnings per share for the Baltimore-based money management firm were $2.15 for the April-to-June period compared with $1.77 a share in 2018′s second quarter.

Advertisement

T. Rowe’s revenue rose 3.7% to nearly $1.4 billion.

“Our investment teams continued to deliver solid performance for our clients in Q2 2019,” said William J. Stromberg, T. Rowe’s president and CEO, in a statement. “Healthy returns in global stock and bond markets combined with $2.5 billion of net client inflows drove total assets under management to $1.125 trillion.”

Advertisement

That’s was up 7.7 percent from the assets T. Rowe managed a year earlier.

T. Rowe shares, which closed Thursday at $113.92 each, are up 3 percent since the earnings were announced.

Recommended on Baltimore Sun

Advertisement
Advertisement