Yahoo Finance

BofA lowered the firm’s price target on T. Rowe Price (TROW) to $89 from $95 and keeps an Underperform rating on the shares. Over the last two weeks, five traditional asset managers reported monthly assets under management and, on average, December net flows declined month-over-month with one of the five generating positive flows for the month while four others reported net outflows, the analyst tells investors. However, the firm expects a reversal in seasonality to benefit flows in January, the analyst added in a monthly recap note for the asset manager group.

Stay Ahead of the Market:

• Discover outperforming stocks and invest smarter with Top Smart Score Stocks

• Filter, analyze, and streamline your search for investment opportunities using Tipranks' Stock Screener

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

See today’s best-performing stocks on TipRanks >>

Read More on TROW:

• T. Rowe Price reports preliminary AUM $1.61T as of December 31

• T. Rowe Price price target raised to $132 from $129 at Morgan Stanley

• T. Rowe Price reports preliminary AUM $1.67T as of November 30

• Oak Hill Advisors serves as lead left arranger for FloWorks refinancing