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

T. Rowe Price Group (NASDAQ:TROW) announced its earnings results on Wednesday. The asset manager reported $2.12 earnings per share for the quarter, missing the consensus estimate 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 previous year, the company earned $1.72 earnings per share.

T. Rowe Price Group Price Performance

Shares of NASDAQ TROW opened at $111.44 on Friday. The company has a 50-day simple moving average of $116.31 and a 200-day simple moving average of $112.63. The company has a market cap of $24.76 billion, a PE ratio of 12.19, a price-to-earnings-growth ratio of 1.78 and a beta of 1.44. T. Rowe Price Group has a 12 month low of $100.49 and a 12 month high of $125.81.

Insiders Place Their Bets

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total transaction of $499,197.45. Following the completion of the sale, the vice president now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on TROW shares. TD Cowen lowered their price objective on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating on the stock in a research report on Monday, November 4th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $113.00 target price (up previously from $111.00) on shares of T. Rowe Price Group in a report on Thursday. Wells Fargo & Company cut their price target on shares of T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating for the company in a report on Thursday. Morgan Stanley lifted 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. Finally, JPMorgan Chase & Co. reduced their price target on 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. Four research analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $115.09.

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.