Free Post Earnings Research Report: T. Rowe Price’s Quarterly Revenue Jumped 18.3%; Non-GAAP EPS Surged 25.6%

Stock Monitor: Apollo Investment Post Earnings Reporting

LONDON, UK / ACCESSWIRE / February 09, 2018 / Active-Investors.com has just released a free earnings report on T. Rowe Price Group, Inc. (NASDAQ: TROW). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=TROW. T. Rowe Price reported its fourth quarter and fiscal 2017 operating and financial results on January 30, 2018. The financial services firm outperformed top- and bottom-line expectations. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Active-Investors.com is currently working on the research report for Apollo Investment Corporation (NASDAQ: AINV), which also belongs to the Financial sector as the Company T. Rowe Price Group. Do not miss out and become a member today for free to access this upcoming report at:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, T. Rowe Price most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

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Earnings Highlights and Summary

T. Rowe Price reported its fourth quarter of 2017 net revenues of $1.29 billion, up 18.3% compared to Q4 2016 net revenues of $1.09 billion. The Company's reported numbers topped analysts' estimates of $1.27 billion.

For full year (FY) 2017, T. Rowe Price reported net revenues of $4.79 billion compared to $4.22 billion in FY16.

For Q4 2017, T. Rowe Price reported operating expenses of $755.1 million compared to $527.9 million in Q4 2016. The Company's Q4 2016 operating expenses were reduced by the recognition of the $100 million insurance recovery related to the Dell appraisal rights matter.

During Q4 2017, T. Rowe Price's compensation and related costs were $446.3 million, reflecting an increase of 17.0% over costs of $381.6 million in Q4 2016, primarily attributed to additional headcount, an increase in the interim accrual of the annual bonus to reward strong performance, and higher benefits.

For Q4 2017, T. Rowe Price's advertising and promotion costs were $33.8 million, representing an increase of 24.3% over Q4 2016 advertising and promotion costs of $27.2 million. The firm's occupancy and facility costs together with depreciation expense were $90.4 million in the reported quarter, up 14.9% on a y-o-y basis, attributed to added costs to update and enhance technology capabilities as well as expanded office facilities and new locations.

During Q4 2017, T. Rowe Price's net operating income was $531.0 million compared to $563.3 million in Q4 2016. The Company's reported quarter net non-operating income was $102.0 million, representing an increase of $89.8 million, or 736.1% on a y-o-y basis.

T. Rowe Price's income tax provision totaled $246.4 million for Q4 2017 compared to $208.7 million in Q4 2016. The Company's reported quarter income tax provision included a non-recurring charge of $71.1 million to reflect the estimated effect of the US tax law changes enacted on December 22, 2017.

T. Rowe Price reported Q4 2017 net income of $347.1 million and diluted earnings per common share of $1.37. For Q4 2016, the Company's net income was $379.8 million and diluted earnings per common share was $1.50. On a non-GAAP basis, T. Rowe Price's earnings for the reported quarter were $1.52 per diluted share compared to $1.21 in the year earlier same quarter, ahead of Wall Street's estimates of $1.45 per share.

For FY17, T. Rowe Price posted net income of $1.50 billion, or $5.97 per diluted share, compared to net income of $1.22 billion, or $4.75 per diluted share. On a non-GAAP basis, the Company's earnings were $5.43 per diluted share compared to $4.49 in FY16.

Financial Results

During Q4 2017, Investment advisory revenues earned from the T. Rowe Price US mutual funds were $817.9 million, reflecting an increase of 16.7% on a y-o-y basis. Average assets under management (AUM) in these funds increased 17.1% on a y-o-y basis to $600.6 billion.

T. Rowe Price's Investment advisory revenues earned in Q4 2017 from other investment products surged 27.1% on a y-o-y basis to $338.1 million. Average AUM for these products increased 27.5% to $375.8 billion.

Assets Under Management

T. Rowe Price's AUM increased $43.2 billion in Q4 2017 to $991.1 billion at December 31, 2017. The firm's net cash inflows were $3.7 billion in the reported quarter, inclusive of $4.2 billion of client transfers from the T. Rowe Price US mutual funds to other investment products. T. Rowe Price's net cash flows into the firm's target date retirement products were $.7 billion in Q4 2017 and $7.1 billion in FY17.

Stock Performance Snapshot

February 08, 2018 - At Thursday's closing bell, T. Rowe Price's stock declined 4.25%, ending the trading session at $101.99.

Volume traded for the day: 3.05 million shares, which was above the 3-month average volume of 1.56 million shares.

Stock performance in the last three-month – up 8.78%; previous six-month period – up 22.61%; and past twelve-month period – up 50.94%

After yesterday's close, T. Rowe Price's market cap was at $25.22 billion.

Price to Earnings (P/E) ratio was at 17.08.

The stock has a dividend yield of 2.24%.

The stock is part of the Financial sector, categorized under the Asset Management industry.

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