Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW – Get Free Report) have been given a consensus rating of “Reduce” by the eleven brokerages that are presently covering the company, Marketbeat Ratings reports. Four investment analysts have rated the stock with a sell recommendation and seven have assigned a hold recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $115.82.
TROW has been the topic of several research analyst reports. Barclays lowered their price target on T. Rowe Price Group from $115.00 to $113.00 and set an “underweight” rating on the stock in a research report on Friday, January 17th. StockNews.com raised T. Rowe Price Group from a “hold” rating to a “buy” rating in a report on Saturday. JPMorgan Chase & Co. cut their price target on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a report on Monday, November 4th. Evercore ISI raised their price objective on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. Finally, Morgan Stanley boosted their target price on shares of T. Rowe Price Group from $129.00 to $132.00 and gave the stock an “equal weight” rating in a report on Friday, December 20th.
Check Out Our Latest Report on T. Rowe Price Group
T. Rowe Price Group Stock Up 1.7 %
T. Rowe Price Group (NASDAQ:TROW – Get Free Report) last issued its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.21. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The company had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same period in the prior year, the business posted $2.17 EPS. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. Equities analysts anticipate that T. Rowe Price Group will post 9.45 EPS for the current year.
Insider Activity
In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of T. Rowe Price Group stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total transaction of $499,197.45. Following the transaction, the vice president now owns 119,577 shares of the company’s stock, valued at $14,749,822.95. The trade was a 3.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 2.00% of the company’s stock.
Institutional Trading of T. Rowe Price Group
Institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. grew its stake in T. Rowe Price Group by 2.8% in the third quarter. Principal Financial Group Inc. now owns 275,978 shares of the asset manager’s stock valued at $30,062,000 after purchasing an additional 7,503 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of T. Rowe Price Group by 3.8% in the 3rd quarter. Janus Henderson Group PLC now owns 29,989 shares of the asset manager’s stock valued at $3,267,000 after buying an additional 1,100 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in T. Rowe Price Group in the second quarter worth approximately $15,907,000. Aigen Investment Management LP bought a new position in T. Rowe Price Group during the third quarter valued at approximately $516,000. Finally, Charles Schwab Investment Management Inc. raised its position in T. Rowe Price Group by 3.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager’s stock valued at $745,169,000 after acquiring an additional 231,286 shares in the last quarter. 73.39% of the stock is currently owned by institutional investors and hedge funds.
About T. Rowe Price Group
T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.
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