-- 獨立研究機構CFRA向提供了以下研究報告。 CFRA分析師的觀點總結如下：TROW公佈了2026年第一季調整後每股收益為2.52美元，較上年同期的2.23美元增長13%，高於我們先前預測的2.50美元和市場普遍預期的2.35美元。然而，持續的結構性不利因素掩蓋了這項績效。淨流出資金達137億美元，其中226億美元來自股票基金，反映投資人正持續從主動型股票策略轉向被動型策略。由於資金流出和522億美元的市場貶值，資產管理規模下降659億美元至1.7兆美元。同時，費率持續走低，從上年同期的40.0個基點降至38.4個基點。儘管費率下降，投資諮詢費仍增加5.3%至16.8億美元。同時，營運支出僅成長0.8%至11.8億美元，顯示在裁員7.1%的情況下，公司仍維持了嚴格的成本控制。我們認為，TROW在主動式管理股的47%權重使其極易受到產業整體轉型為被動型投資的影響。儘管公司在成本控制方面表現穩健，並進行了必要的技術投資，但仍面臨持續的長期挑戰。
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