T. Rowe Price Group (NASDAQ:TROW) Issues 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 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 quarter in the previous year, the company earned $1.72 earnings per share.

T. Rowe Price Group Price Performance

T. Rowe Price Group stock traded down $4.00 during mid-day trading on Wednesday, reaching $111.55. 712,786 shares of the company traded hands, compared to its average volume of 1,495,487. T. Rowe Price Group has a 52-week low of $100.49 and a 52-week high of $125.81. The firm has a market capitalization of $24.78 billion, a price-to-earnings ratio of 12.22, a P/E/G ratio of 1.78 and a beta of 1.44. The firm’s 50 day moving average price is $116.58 and its 200 day moving average price is $112.65.

Insider Transactions at T. Rowe Price Group

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the company’s 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 sale, the vice president now directly owns 119,577 shares of the company’s stock, valued at $14,749,822.95. This represents a 3.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

TROW has been the topic of a number of research reports. Evercore ISI raised their price target 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. Morgan Stanley boosted their price target on shares of T. Rowe Price Group from $129.00 to $132.00 and gave the stock an “equal weight” rating in a research note on Friday, December 20th. TD Cowen lowered their target price on 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. Wells Fargo & Company dropped their target price on T. Rowe Price Group from $124.00 to $118.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. Finally, Barclays lowered their price objective on T. Rowe Price Group from $115.00 to $113.00 and set an “underweight” rating for the company in a research report on Friday, January 17th. Four equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price 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.