Several other analysts have also commented on the stock. TD Cowen lowered their price target 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. JPMorgan Chase & Co. dropped their price target on T. Rowe Price Group from $116.00 to $115.00 and set an "underweight" rating for the company in a research report on Monday, November 4th. Keefe, Bruyette & Woods reduced 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 research report on Monday. Deutsche Bank Aktiengesellschaft lifted their price objective on T. Rowe Price Group from $115.00 to $120.00 and gave the stock a "hold" rating in a research report on Monday, November 11th. Finally, The Goldman Sachs Group reduced their target price on shares of T. Rowe Price Group from $106.00 to $102.00 and set a "sell" rating on the stock in a report on Thursday, October 3rd. Four research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company's stock. According to MarketBeat, T. Rowe Price Group has an average rating of "Hold" and an average target price of $115.82.
View Our Latest Stock Report on T. Rowe Price Group
Shares of TROW traded up $1.38 on Friday, reaching $113.51. The stock had a trading volume of 507,861 shares, compared to its average volume of 1,282,161. T. Rowe Price Group has a twelve month low of $100.49 and a twelve month high of $125.81. The firm has a market capitalization of $25.22 billion, a PE ratio of 12.41, a PEG ratio of 1.42 and a beta of 1.43. The firm has a 50-day moving average of $117.96 and a 200 day moving average of $112.86.
T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.21. The company had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.84 billion. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. T. Rowe Price Group's revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.17 earnings per share. On average, sell-side analysts anticipate that T. Rowe Price Group will post 9.46 earnings per share for the current fiscal year.
In other 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 in the company, valued at $14,749,822.95. This trade represents a 3.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.00% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. International Assets Investment Management LLC lifted its position in T. Rowe Price Group by 7,992.0% during the third quarter. International Assets Investment Management LLC now owns 1,067,655 shares of the asset manager's stock valued at $116,300,000 after buying an additional 1,054,461 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its stake in shares of T. Rowe Price Group by 382.1% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 398,175 shares of the asset manager's stock valued at $43,373,000 after acquiring an additional 315,581 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of T. Rowe Price Group by 3.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager's stock valued at $745,169,000 after acquiring an additional 231,286 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in T. Rowe Price Group by 15.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,611,307 shares of the asset manager's stock worth $185,810,000 after purchasing an additional 220,105 shares during the period. Finally, AQR Capital Management LLC increased its holdings in T. Rowe Price Group by 77.2% in the 2nd quarter. AQR Capital Management LLC now owns 451,237 shares of the asset manager's stock valued at $52,032,000 after purchasing an additional 196,565 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company's stock.
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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