T. Rowe Price Group (NASDAQ:TROW) Announces Earnings Results

T. Rowe Price Group (NASDAQ:TROW) released its quarterly earnings data on Wednesday. The asset manager reported $2.12 EPS for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.08), Zacks reports. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. During the same period in the prior year, the company posted $1.72 earnings per share.

T. Rowe Price Group Stock Down 3.5 %

NASDAQ TROW traded down $4.00 during trading hours on Wednesday, reaching $111.55. 712,786 shares of the company were exchanged, compared to its average volume of 1,495,487. The stock has a market capitalization of $24.78 billion, a P/E ratio of 12.22, a P/E/G ratio of 1.78 and a beta of 1.44. T. Rowe Price Group has a 1 year low of $100.49 and a 1 year high of $125.81. The business’s 50 day simple moving average is $116.58 and its 200-day simple moving average is $112.65.

Insider Transactions at T. Rowe Price Group

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of T. Rowe Price Group stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total value of $499,197.45. Following the completion of the transaction, the vice president now owns 119,577 shares in the company, valued at $14,749,822.95. This trade represents a 3.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have commented on TROW. Evercore ISI raised their target price on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Morgan Stanley increased their price objective on T. Rowe Price Group from $129.00 to $132.00 and gave the company an “equal weight” rating in a report on Friday, December 20th. JPMorgan Chase & Co. lowered their price target on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a research report on Monday, November 4th. TD Cowen cut their target price on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a research note on Monday, November 4th. Finally, Keefe, Bruyette & Woods decreased their price objective on T. Rowe Price Group from $116.00 to $111.00 and set a “market perform” rating on the stock in a report on Monday, January 13th. Four analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. Based on data from MarketBeat, T. Rowe Price Group presently has an average rating of “Hold” and a consensus price target of $115.82.

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.