T. Rowe Price (TROW)
Active investment manager spanning retirement portfolios, public markets, and alternative credit.
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Offers active equity, fixed income, multi-asset, target-date retirement, and alternative-credit strategies through funds, ETFs, trusts, and managed accounts, alongside retirement-plan services. Advisory fees tied to managed-asset values drive the business; retirement-related accounts represent most assets, while Oak Hill Advisors extends the platform into private credit.
Manages active equity, fixed income, multi-asset, and alternative strategies for individuals, advisers, institutions, and retirement plan sponsors. Products reach clients through mutual funds, ETFs, collective trusts, separate accounts, subadvised mandates, private funds, interval funds, and CLOs; related services include workplace-plan recordkeeping, distribution, brokerage, trust, and fund administration.
Uses proprietary fundamental research across the public-market platform, while Oak Hill Advisors operates as a standalone alternative-credit arm. Target-date products and retirement-plan services anchor the platform, and retirement-related accounts represent most managed assets. Most clients are in the United States, with additional business across Europe, Asia-Pacific, and Canada.
Substantially all net revenue comes from investment advisory fees, generally calculated from managed-asset values. Results therefore depend on market levels, asset mix, investment performance, client flows, fee pressure, and regulation, including ERISA for retirement services.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Aug 31, 2026 | UBS | Target | Target: — | Target: $110 |
| Aug 10, 2026 | Evercore ISI | Target | Target: $121 | Target: $118 |
| Aug 3, 2026 | Deutsche Bank | Reiterate | Rating: —Target: $113 | Target: $109 |
| Aug 3, 2026 | BMO Capital | Reiterate | Rating: —Target: $98 | Target: $120 |
| Jul 29, 2026 | Morgan Stanley | Target | Target: $109 | Target: $116 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $3.23B · Total debt $429.4M · Total assets $15.36B · Shareholders' equity $11.00B
- Revenue
- $1.91B
- Operating income
- $540.5M
- Net income
- $632.0M
HistoryDividendAnnual yield
| Institutions | 92.61% | 197.55M shares | |
|---|---|---|---|
| 1,206 holders · as of Jun 30, 2026 | |||
| Insiders | 0.85% | 1.81M shares | |
| 23 holders · as of Aug 26, 2026 | |||
| Other | 6.54% | 13.96M shares | |
| remainder | |||
213.32M company shares as of Sep 23, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 11.25% | 24.00M | as of Jun 30, 2026 |
State Street CorpInstitution | 6.87% | 14.65M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 6.55% | 13.97M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 4.71% | 10.04M | as of Jun 30, 2026 |
Goldman Sachs Group IncInstitution | 3.96% | 8.45M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 25, 2026 | Joshua B. Nelson | officer: Vice President | −10,000 | $111.82 |
| May 13, 2026 | Stephon A. Jackson | officer: Vice President | −3,000 | $102.56 |
| Dec 10, 2025 | Arif Husain | other: VP | −4,260 | $101.96 |
| Sep 22, 2025 | Robert F. MacLellan | director | −3,090 | $105.01 |
- BlackRock
Scale pressure across ETFs, active funds, target-date, and alternatives
- Franklin Templeton
Active-manager peer across funds, target-risk, alternatives, and SMAs
- Invesco
ETF scale and active teams overlap across major asset classes
- State Street
SPDR and institutional mandates pressure passive and multi-asset channels
- Principal Financial Group
Retirement platform and target-date franchise compete for DC assets
- Ameriprise Financial
Columbia Threadneedle and wealth channels overlap in active management
- Northern Trust
Institutional and wealth mandates overlap in active/passive portfolios
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| T. Rowe Price | $104.58 | +0.39% | $22.32B | 10.4 | 10.2 | 2.9 | +10.7% |
| BlackRock | $1,065.56 | −0.10% | $165.33B | 25.5 | 17.8 | 6.1 | +30.6% |
| Franklin Templeton | $33.00 | −0.41% | $17.22B | 22.1 | 10.7 | 1.8 | −12.0% |
| Invesco | $30.80 | −0.16% | $13.68B | — | 10.1 | 2.0 | +20.3% |
| State Street | $181.73 | +0.82% | $49.89B | 15.9 | 12.6 | 2.2 | −30.2% |
| Principal Financial Group | $114.59 | +0.88% | $24.32B | 16.2 | 11.5 | 1.5 | +8.9% |
| Ameriprise Financial | $510.75 | −0.32% | $46.06B | 12.4 | 10.4 | 2.3 | +14.6% |
| Northern Trust | $174.78 | +0.80% | $31.72B | 14.9 | 14.7 | 2.1 | −24.9% |
| Median | 16.0 | 11.5 | 2.1 | +8.9% |