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0001113169falsePRICE T ROWE GROUP INC00011131692023-11-102023-11-10

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
___________________________

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 of the Securities Exchange Act of 1934


Date of Report (Date of earliest event reported): November 10, 2023

T. Rowe Price Group, Inc.
(Exact name of registrant as specified in its charter)
Maryland 000-32191 52-2264646
(State of
incorporation)		 (Commission
File Number)		 (IRS Employer
Identification No.)
100 East Pratt Street, Baltimore, Maryland 21202
(Address of principal executive offices) (Zip Code)

Registrant's telephone number, including area code: (410) 345-2000

N/A
(Former Name of Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol Name of each exchange on which registered
Common Stock, par value $0.20 TROW The NASDAQ Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12-2 of this chapter).
                                        Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐



Section 8 - Other Events.
Item 8.01 Other Events.

On November 10, 2023, T . Rowe Price Group, Inc. (the “Company”) issued a press release disclosing assets under management as of October 31, 2023, and providing guidance for AUM flows in November and December. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K, and are incorporated herein by reference.


Section 9 - Financial Statements and Exhibits.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

99.1 Press release dated November 10, 2023




SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
T. Rowe Price Group, Inc.
By: /s/ Jennifer B. Dardis
Jennifer B. Dardis
Vice President, Chief Financial Officer and Treasurer
Date: November 10, 2023

EX-99 5 pressrelease_october2023aum.htm EX-99.1 Document

trplogoa01.jpg

NEWS RELEASE
T. ROWE PRICE GROUP REPORTS PRELIMINARY MONTH-END
ASSETS UNDER MANAGEMENT FOR OCTOBER 2023

BALTIMORE (November 10, 2023) - T. Rowe Price Group, Inc. (NASDAQ-GS: TROW), today reported preliminary month-end assets under management of $1.31 trillion as of October 31, 2023. Preliminary net outflows for October 2023 were $6.3 billion. As discussed on the Q3 earnings call, the firm expects outflows in November and December to be elevated based on a few large known terminations and regular seasonal patterns. The firm forecasts net outflows for each month to exceed $10 billion.

The below table shows the firm's assets under management as of October 31, 2023, and for the prior quarter- and year-end by asset class and in the firm’s target date retirement portfolios.
As of
Preliminary(a)
(in billions) 10/31/2023 9/30/2023 12/31/2022
 Equity $ 668  $ 690  $ 664 
 Fixed income, including money market 168  169  167 
 Multi-asset 429  440  400 
 Alternatives 47  47  44 
Total assets under management $ 1,312  $ 1,346  $ 1,275 

Target date retirement products $ 364  $ 372  $ 334 
(a) Preliminary - subject to adjustment

Forward-Looking Statements
Certain statements in this press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to T. Rowe Price’s future financial or business performance, strategies, or expectations, and include, but are not limited to, statements regarding future net outflows and the actual or potential impact of the outflows on our business, operations or financial results. T. Rowe Price cautions that forward-looking statements are subject to numerous assumptions, risks, and uncertainties, which change over time. Actual results could differ materially from those anticipated in forward-looking statements, and future results could differ materially from historical performance. Forward-looking statements speak only as of the date they are made, and T. Rowe Price assumes no duty to and does not undertake to update forward-looking statements.

About T. Rowe Price
Founded in 1937, T. Rowe Price (NASDAQ - GS: TROW) helps people around the world achieve their long-term investment goals. As a large global asset management company known for investment excellence, retirement leadership, and independent proprietary research, the firm is built on a culture of integrity that puts client interests first. Investors rely on the award-winning firm for its retirement expertise and active management approach of equity, fixed income, alternatives, and multi-asset investment capabilities. T. Rowe Price manages $1.31 trillion in assets under management as of October 31, 2023, and serves millions of clients globally. News and other updates can be found on Facebook, Instagram, LinkedIn, X, YouTube, and troweprice.com/newsroom.



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T. ROWE PRICE CONTACTS:
Public Relations Investor Relations
Jamaal Mobley Linsley Carruth
410-345-3403 410-345-3717
jamaal.mobley@troweprice.com linsley.carruth@troweprice.com