Several other research analysts have also weighed in on the stock. ValuEngine lowered shares of T. Rowe Price Group from a “hold” rating to a “sell” rating in a research report on Thursday, July 2nd. BMO Capital Markets upped their price target on T. Rowe Price Group from $109.00 to $128.00 and gave the stock a “market perform” rating in a report on Monday, June 29th. UBS Group reduced their price objective on T. Rowe Price Group from $137.00 to $100.00 and set a “neutral” rating for the company in a report on Tuesday, April 7th. Deutsche Bank upped their target price on T. Rowe Price Group from $139.00 to $149.00 and gave the company a “hold” rating in a report on Thursday. Finally, JPMorgan Chase & Co. lifted their price target on T. Rowe Price Group from $101.00 to $110.00 and gave the stock an “underweight” rating in a research note on Wednesday, April 29th. Four analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $116.17.
Shares of TROW stock opened at $138.10 on Friday. The company has a market capitalization of $31.42 billion, a P/E ratio of 16.60, a price-to-earnings-growth ratio of 2.30 and a beta of 1.15. The company has a current ratio of 3.24, a quick ratio of 4.55 and a debt-to-equity ratio of 0.02. The business’s 50 day moving average is $127.11 and its two-hundred day moving average is $119.76. T. Rowe Price Group has a twelve month low of $82.51 and a twelve month high of $139.82.
T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Wednesday, July 29th. The asset manager reported $2.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.04 by $0.25. T. Rowe Price Group had a net margin of 35.05% and a return on equity of 29.65%. The business had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same period in the previous year, the business posted $2.03 earnings per share. The business’s revenue was up 1.4% compared to the same quarter last year. As a group, equities analysts predict that T. Rowe Price Group will post 8.3 earnings per share for the current fiscal year.
In other news, VP W. Sharps Robert sold 3,500 shares of T. Rowe Price Group stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $117.50, for a total value of $411,250.00. Following the completion of the sale, the vice president now owns 476,176 shares of the company’s stock, valued at $55,950,680. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Mary K. Bush sold 1,851 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $115.34, for a total value of $213,494.34. Following the completion of the transaction, the director now owns 15,955 shares of the company’s stock, valued at $1,840,249.70. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,851 shares of company stock worth $1,047,719. Corporate insiders own 1.00% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in shares of T. Rowe Price Group by 2.0% during the 1st quarter. BlackRock Inc. now owns 19,051,071 shares of the asset manager’s stock worth $1,860,339,000 after acquiring an additional 365,536 shares during the period. JPMorgan Chase & Co. grew its stake in shares of T. Rowe Price Group by 4.3% in the first quarter. JPMorgan Chase & Co. now owns 10,261,418 shares of the asset manager’s stock valued at $1,002,028,000 after buying an additional 422,968 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of T. Rowe Price Group by 4.3% during the 1st quarter. Geode Capital Management LLC now owns 4,510,315 shares of the asset manager’s stock valued at $439,805,000 after buying an additional 186,509 shares during the period. Bank of New York Mellon Corp lifted its position in T. Rowe Price Group by 1.6% during the 1st quarter. Bank of New York Mellon Corp now owns 2,009,234 shares of the asset manager’s stock worth $196,201,000 after acquiring an additional 31,721 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in T. Rowe Price Group by 2.3% in the 1st quarter. Legal & General Group Plc now owns 1,771,020 shares of the asset manager’s stock worth $172,971,000 after acquiring an additional 39,029 shares during the period. 70.63% of the stock is owned by institutional investors.
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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