More from Dividend.com
Referenced Stocks

T. Rowe Price’s Profit and Revenue Miss the Mark as AUM Declines (TROW)

By Dividend.com,  July 25, 2012, 09:10:53 AM EDT

Asset manager T. Rowe Price Group, Inc. ( TROW ) on Wednesday posted disappointing second quarter earnings results, as the firm saw lower assets under management.

The Baltimore-based company reported second quarter net income of $206.8 million, or 79 cents per share, compared with $204.7 million, or 79 cents per share, in the year-ago period.

Revenue rose 3.2% from last year to $736.8 million.

On average, Wall Street analysts expected a higher profit of 81 cents per share, on larger revenue of $759 million.

On another sour note, TROW said that assets under management fell 2.36% from the same period last year.

T. Rowe Price shares were mostly flat in premarket trading Wednesday.

The Bottom Line
Shares of T.Rowe Price Group ( TROW ) have a 2.24% dividend yield, based on last night's closing stock price of $60.68. The stock has technical support in the $55 price area. If the shares can firm up, we see overhead resistance around the $65-$66 price levels.

T. Rowe Price Group, Inc. ( TROW ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: TROW



Latest News Video

In New Hampshire, Rand Paul Says GOP Must Embrace Diversity
In New Hampshire, Rand Paul Says GO...
Homeless Can Remain in Concord, New Hampshire Camp For Now
Homeless Can Remain in Concord, New...
Crash Sends Car Flying 20-Feet In The Air
Crash Sends Car Flying 20-Feet In T...
Dozens of Graves in New Ipswich, New Hampshire Could Be Moved
Dozens of Graves in New Ipswich, Ne...


Sign-in
Existing NASDAQ.com member? Log in here.

By signing into to the site using any of the third-party services above, you agree to NASDAQ.com's Terms of Use.

From Our Trusted News Source





Most Active by Volume:

Company Last Sale Change Net / %
BAC $ 13.51 0.08  0.60%
RAD $ 2.80 0.01  0.36%
CSCO $ 23.94 0.30  1.24%
MSFT $ 35.06 0.19  0.54%
WCRX $ 19.60 0.39  2.03%
SIRI $ 3.49 0.01  0.29%
FB $ 25.76 0.49  1.87%
S $ 7.29 0.03  0.41%