T. Rowe Price Group, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2012
January 29, 2013 at 07:31 am EST
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T. Rowe Price Group, Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2012. For the quarter, the company reported net revenues of $787.3 million, net income allocated to common stockholders of $229.9 million and diluted earnings per common share of $0.88. For the corresponding comparable period in 2011, net revenues were $671.6 million, net income allocated to common stockholders was $187.5 million and diluted earnings per common share were $0.73 in the fourth quarter of 2011. Net operating income was $361.2 million against $293.6 million a year ago. Income before income taxes was $378.1 million against $306.5 million a year ago.
For the year, the company reported net revenues of $3,022.5 million against $2,747.1 million for the same period last year. Net income allocated to common stockholders was $878.1 million or $3.36 per diluted share against $769.7 million or $2.92 per diluted share for the same period last year. Net operating income was $1,364.3 million against $1,226.9 million a year ago. Income before income taxes was $1,435.1 million against $1,250.6 million a year ago. Cash provided by operating activities, including $104.1 of stock-based compensation in 2012 was $902.8 million against $948.4 million for the same period last year. During 2012, the firm paid invested $76.9 million in capitalized technology and facilities.
T. Rowe Price Group, Inc. is an investment management company that provides investment advisory services to individual and institutional investors, retirement plans, and financial intermediaries. The group manages a broad range of American and international stock, blended asset, bond, and money market mutual funds and other investment portfolios.
T. Rowe Price Group also provides investment advisory clients with related administrative services, including mutual fund transfer agent, accounting and shareholder services, participant recordkeeping and transfer agent services for defined contribution retirement plans, discount brokerage, and trust services.
At the end of 2023, the group had USD 1,444.5 billion in assets under management.