james a c kennedy

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During a long career, the Nebraska native helped shape T. Rowe Price into a global investment powerhouse and an indispensable part of Baltimore's business

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

James A.C. Kennedy, the T. Rowe Price Group CEO who plans to step down after this year, will stay on as a part-time consultant making $250,000 annually, the company disclosed in a filing last week.

T. Rowe Price Group's profit fell 9 percent between July and September amid the market's downturn, the Baltimore-based money manager reported Thursday.

Baltimore-based money manager T. Rowe Price earned $333.2 million between April and June this year, a 9 percent rise in profit over the year before.

T. Rowe Price Group on Wednesday reported earnings of $309.5 million in the first three months of 2014, an increase of 1.7 percent.

Baltimore-based money management firm T. Rowe Price reported 2014 earnings of $1.2 billion, up 17 percent over the year before, but the company's president cautioned that investors should temper their expectations for the market this year.

Baltimore money manager T. Rowe Price said Thursday that net income rose nearly 26 percent in the first three months of the year, compared with a year earlier, as revenue from investment advisory fees grew by more than $120 million.

T. Rowe Price Group's stock soared Tuesday after the firm reported fourth quarter earnings up 24 percent compared to the year before, beating analyst expectations.

Curran W. "Cub" Harvey Jr., former president of T. Rowe Price Associates Inc. who later was a founder of New Enterprise Associates, a venture capital firm, died Sunday of pneumonia at Naples Community Hospital in Naples, Fla. He was 84.

T. Rowe Price's decision to stay in its Pratt Street headquarters is a reminder of the central business district's vibrancy.

T. Rowe Price, an anchor institution in downtown Baltimore for decades, said Thursday it plans to remain in its Pratt Street headquarters through 2027, quelling fears that it would be lured to move to the county or the city's hot properties farther east.

T. Rowe Price Group reported that it earned $247.8 million in the second quarter, a nearly 20 percent increase over a year ago.

T. Rowe Price Group reported Wednesday that it earned $241.9 million in the first quarter, or 91 cents per share, on revenue of $815.7 million.

T. Rowe Price CEO James A.C. Kennedy earned $8.4 million in total compensation last year, a 7 percent increase over 2011, the Baltimore-based investment firm reported.

T. Rowe Price Group reported this morning a $247.3 million profit, or 94 cents per share, for the third quarter. Revenues reached $769.7 million.

Baltimore money manager T. Rowe Price's assets under management hit a record $554.8 billion in the first quarter, the company announced Tuesday.