T. Rowe Price Group, Inc. (NASDAQ:TROW – Get Free Report) VP Joshua Nelson sold 10,000 shares of the firm’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $111.82, for a total transaction of $1,118,200.00. Following the sale, the vice president owned 71,328 shares in the company, valued at $7,975,896.96. The trade was a 12.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
T. Rowe Price Group Stock Performance
TROW opened at $112.55 on Thursday. T. Rowe Price Group, Inc. has a fifty-two week low of $85.22 and a fifty-two week high of $122.00. The firm’s fifty day moving average is $114.18 and its 200 day moving average is $103.16. The stock has a market cap of $24.01 billion, a price-to-earnings ratio of 11.29, a price-to-earnings-growth ratio of 3.74 and a beta of 1.47.
T. Rowe Price Group (NASDAQ:TROW – Get Free Report) last issued its quarterly earnings results on Friday, July 31st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.52 by $0.05. The business had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.89 billion. T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.26%.T. Rowe Price Group’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.24 EPS. On average, equities research analysts predict that T. Rowe Price Group, Inc. will post 10.15 earnings per share for the current year.
T. Rowe Price Group Announces Dividend
Analysts Set New Price Targets
Several research firms have recently issued reports on TROW. BMO Capital Markets lifted their price objective on shares of T. Rowe Price Group from $110.00 to $120.00 and gave the company a “market perform” rating in a research report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $109.00 target price on shares of T. Rowe Price Group in a research note on Monday, August 3rd. The Goldman Sachs Group lifted their price target on shares of T. Rowe Price Group from $90.00 to $92.00 and gave the company a “sell” rating in a report on Tuesday, June 30th. TD Cowen boosted their price target on shares of T. Rowe Price Group from $107.00 to $108.00 and gave the stock a “hold” rating in a research note on Monday, August 3rd. Finally, Evercore set a $118.00 price objective on shares of T. Rowe Price Group in a report on Monday, August 10th. Ten equities research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $105.67.
Check Out Our Latest Analysis on TROW
Institutional Trading of T. Rowe Price Group
Several hedge funds and other institutional investors have recently bought and sold shares of TROW. Wealthcare Capital Partners LLC raised its stake in shares of T. Rowe Price Group by 1.0% during the second quarter. Wealthcare Capital Partners LLC now owns 9,565 shares of the asset manager’s stock worth $1,087,000 after buying an additional 93 shares during the last quarter. Kesler Norman & Wride LLC boosted its stake in T. Rowe Price Group by 0.6% in the second quarter. Kesler Norman & Wride LLC now owns 15,914 shares of the asset manager’s stock valued at $1,809,000 after acquiring an additional 96 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in T. Rowe Price Group by 9.4% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 1,150 shares of the asset manager’s stock worth $131,000 after acquiring an additional 99 shares during the period. Oregon Public Employees Retirement Fund grew its holdings in T. Rowe Price Group by 0.4% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 25,062 shares of the asset manager’s stock worth $2,259,000 after acquiring an additional 100 shares during the period. Finally, Concorde Asset Management LLC raised its position in shares of T. Rowe Price Group by 3.9% during the 1st quarter. Concorde Asset Management LLC now owns 2,730 shares of the asset manager’s stock valued at $246,000 after acquiring an additional 102 shares during the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.
T. Rowe Price Group Company Profile
T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.
The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.
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