T. Rowe Price Group reported a decrease in net revenues to $1.5 billion and a diluted EPS of $1.16 for Q4 2022. The company experienced net client outflows of $17.1 billion during the quarter. Despite these challenges, the company returned $387.3 million to stockholders, including $111.3 million in share repurchases.
Year-end assets under management reached $1.27 trillion.
Q4 2022 net revenues were $1.5 billion.
Q4 2022 diluted EPS was $1.16, and adjusted diluted EPS was $1.74.
The company returned $387.3 million to stockholders in Q4 2022.
T. Rowe Price estimates its 2023 non-GAAP operating expenses, excluding accrued carried interest compensation, will grow in the range of 2% to 6%. This range reflects the redeployment of $85 million in savings realized from the expense management actions taken in 2022 to fund strategic priorities.
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