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

T. Rowe Price Group (NASDAQ:TROW) released its quarterly earnings results on Wednesday. The asset manager reported $2.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.20 by ($0.08), Zacks reports. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. During the same quarter last year, the firm earned $1.72 EPS.

T. Rowe Price Group Stock Performance

TROW traded down $4.18 on Wednesday, reaching $111.37. 616,319 shares of the company’s stock were exchanged, compared to its average volume of 1,495,487. T. Rowe Price Group has a twelve month low of $100.49 and a twelve month high of $125.81. The company’s 50 day moving average is $116.58 and its 200-day moving average is $112.65. The company has a market cap of $24.74 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 1.78 and a beta of 1.44.

Insider Buying and Selling at T. Rowe Price Group

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total value of $499,197.45. Following the transaction, the vice president now directly owns 119,577 shares of the company’s stock, 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 SEC, which is available through this hyperlink. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

TROW has been the topic of several recent analyst reports. StockNews.com downgraded shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Sunday. Deutsche Bank Aktiengesellschaft increased their price target on T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Evercore ISI lifted their price objective on 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. JPMorgan Chase & Co. reduced their target price 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. Finally, Wells Fargo & Company decreased their price target on T. Rowe Price Group from $124.00 to $118.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 14th. Four analysts have rated the stock with a sell rating and eight have given a hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $115.82.

T. Rowe Price Group Company Profile

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.