T. Rowe Price's first quarter earnings came in one penny under analysts' expectations at $0.69 per diluted share, versus expectations of $0.70. First quarter net income was $94 million.

Assets under management were $235.9 billion at the end of March, up 0.3 percent, or $670 million from the period ended December 31.

In T. Rowe Price mutual funds, stock fund AUM totaled $116.7 billion, up from $114.3 billion at the end of December. Bond and money market funds increased 1.3 percent to $31.6 billion.

The remainder of T. Rowe Price's AUM, in other portfolios and equity and debt securities, remained stable quarter over quarter.

Investment advisory fees from mutual funds increased 4.2 percent quarter-over-quarter to $208.2 million. Stock mutual fund advisory fees increased five percent in the first quarter, from $165.2 million at the end of the fourth quarter to $173.5 billion at the end of the first quarter. Bond and money market advisory fees grew 0.2 percent, from $34.623 million to $34.693 million at the period ended March 31.  

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