2023-05-02 07:30:00 ET
Since closing at a record high of just below 4,800 in late 2021, the S&P 500 index has struggled: Elevated inflation throughout 2022 and into this year has led to interest rates rocketing higher in the past year and beyond. The fallout of the ongoing war between Russia and Ukraine has also been a source of uncertainty in the markets.
As you would expect, these events have also weighed on T. Rowe Price Group 's (NASDAQ: TROW) financial results and stock performance during that time. But the stock is a buy for income investors, in my opinion. Let's analyze three reasons why.
In the asset management industry, reputation is everything. Considering that institutional and retail investors are entrusting asset managers with huge sums of money and their life savings, this makes perfect sense.
For further details see:
Everyone Is Down on T. Rowe Price; Here's Why I Love It