T. Rowe Price Files Q3 2024 10-Q Report

Ticker: TROW · Form: 10-Q · Filed: Nov 1, 2024 · CIK: 1113169

Sentiment: neutral

Topics: 10-Q, quarterly-report, financials

Related Tickers: TROW

TL;DR

**T. ROWE PRICE GROUP INC (TROW) FILED ITS 10-Q FOR SEPT 30, 2024. CHECK NASDAQ FOR UPDATES.**

AI Summary

T. Rowe Price Group, Inc. filed its quarterly report for the period ended September 30, 2024. The company, incorporated in Maryland with IRS Employer Identification No. 52-2264646, is registered with the SEC under file number 000-32191. Its common stock trades under the symbol TROW on The NASDAQ Stock Market LLC.

Why It Matters

This filing provides investors with the latest financial performance and operational details of T. Rowe Price Group, Inc., crucial for understanding the company's current standing and future prospects.

Risk Assessment

Risk Level: low — This is a standard quarterly filing providing financial information, not indicating immediate operational or financial distress.

Key Players & Entities

FAQ

What is the primary purpose of this Form 10-Q filing?

The Form 10-Q is a quarterly report filed by T. Rowe Price Group, Inc. pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the quarterly period ended September 30, 2024.

What is the company's state of incorporation and IRS Employer Identification Number?

The company is incorporated in Maryland and has an IRS Employer Identification No. of 52-2264646.

On which stock exchange is T. Rowe Price Group, Inc.'s common stock traded?

The common stock of T. Rowe Price Group, Inc. is traded on The NASDAQ Stock Market LLC.

What is the trading symbol for T. Rowe Price Group, Inc.'s common stock?

The trading symbol for T. Rowe Price Group, Inc.'s common stock is TROW.

Does the filing indicate if T. Rowe Price Group, Inc. has filed all required reports for the preceding 12 months?

The filing includes a check box indicating 'Yes' for whether the registrant has filed all reports required to be filed by Section 13 of the Securities Exchange Act of 1934 during the preceding 12 months.

Filing Stats: 4,764 words · 19 min read · ~16 pages · Grade level 6.4 · Accepted 2024-11-01 12:03:56

Key Financial Figures

Filing Documents

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements. UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS (in millions, except share data) 9/30/2024 12/31/2023 ASSETS Cash and cash equivalents $ 3,173.5 $ 2,066.6 Accounts receivable and accrued revenue 890.0 807.9 Investments 2,966.0 2,554.7 Assets of consolidated sponsored investment products ($ 1,419.4 million at September 30, 2024 and $ 1,204.4 million at December 31, 2023, related to variable interest entities) 1,857.2 1,959.3 Operating lease assets 228.5 241.1 Property, equipment and software, net 930.1 806.6 Intangible assets, net 395.2 507.3 Goodwill 2,642.8 2,642.8 Other assets 622.6 692.5 Total assets $ 13,705.9 $ 12,278.8 LIABILITIES Accounts payable and accrued expenses $ 359.1 $ 409.5 Liabilities of consolidated sponsored investment products ($ 38.0 million at September 30, 2024 and $ 35.2 million at December 31, 2023, related to variable interest entities) 57.8 54.2 Operating lease liabilities 288.4 308.5 Accrued compensation and related costs 801.6 240.8 Supplemental savings plan liability 969.6 895.0 Contingent consideration liability — 13.4 Income taxes payable 13.3 66.2 Total liabilities 2,489.8 1,987.6 Commitments and contingent liabilities Redeemable non-controlling interests 763.4 594.1 STOCKHOLDERS' EQUITY Preferred stock, undesignated, $ 0.20 par value – authorized and unissued 20,000,000 shares — — Common stock, $ 0.20 par value—authorized 750,000,000 ; issued 222,143,000 shares at September 30, 2024 and 223,938,000 at December 31, 2023 44.4 44.8 Additional capital in excess of par value 359.1 431.7 Retained earnings 9,885.3 9,076.1 Accumulated other comprehensive loss ( 39.5 ) ( 47.5 ) Total stockholders' equity attributable to T. Rowe Price Group, Inc. 10,249.3 9,505.1 Non-controlling interests in consolidated entities 203.4 192.0 Total stockholders' equity 10,452.7 9,697.1 Total liabilities, redeemable non-controlling interests, and stockholders' equity $ 13,705.9 $ 12,278

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