T. Rowe Price flows about neutral in Q3

• Q3 adjusted net income of $299.9M or $1.17 per share vs. $277M and $1.06 one year ago.
• Average AUM of $803.6B up 5% Y/Y; ending AUM of $812.9B up 12%. Net flows were marginally outward during quarter, but market appreciation allowed for the increase in AUM. Drilling down further, stock mutual funds saw outflows of $3.5B, while bond funds had inflows of $2.7B.
• 2016 operating expenses should still be about 6% above last year, and mid- to high single-digit growth is anticipated in 2017.
• Previously: T. Rowe Price misses by $0.01, beats on revenue (Oct. 27)
• TROW flat premarket