T. Rowe Price Group Inc (NASDAQ:TROW) CFO Kenneth V. Moreland sold 8,066 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $104.12, for a total value of $839,831.92. Following the sale, the chief financial officer now directly owns 100,796 shares of the company’s stock, valued at approximately $10,494,879.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of T. Rowe Price Group Inc (NASDAQ:TROW) traded up $1.41 during trading on Thursday, hitting $104.49. The stock had a trading volume of 1,169,700 shares, compared to its average volume of 1,386,600. T. Rowe Price Group Inc has a fifty-two week low of $65.33 and a fifty-two week high of $106.10. The stock has a market capitalization of $25,580.00, a P/E ratio of 17.10, a price-to-earnings-growth ratio of 1.72 and a beta of 1.32.
T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Thursday, October 26th. The asset manager reported $1.56 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.36 by $0.20. T. Rowe Price Group had a return on equity of 24.76% and a net margin of 33.10%. The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the previous year, the business earned $1.17 earnings per share. The business’s revenue was up 11.8% on a year-over-year basis. research analysts anticipate that T. Rowe Price Group Inc will post 5.29 earnings per share for the current year.
Large investors have recently bought and sold shares of the stock. Alpha Cubed Investments LLC purchased a new stake in shares of T. Rowe Price Group in the third quarter worth about $256,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in T. Rowe Price Group by 59.3% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 200,580 shares of the asset manager’s stock valued at $18,183,000 after purchasing an additional 74,687 shares during the period. Reliance Trust Co. of Delaware purchased a new stake in T. Rowe Price Group during the third quarter valued at approximately $304,000. Mackenzie Financial Corp purchased a new stake in T. Rowe Price Group during the third quarter valued at approximately $28,685,000. Finally, Asset Management One Co. Ltd. raised its position in T. Rowe Price Group by 24.0% during the third quarter. Asset Management One Co. Ltd. now owns 492,202 shares of the asset manager’s stock valued at $44,553,000 after purchasing an additional 95,361 shares during the period. Institutional investors own 72.13% of the company’s stock.
Several analysts have issued reports on the company. Zacks Investment Research raised T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $118.00 price target for the company in a report on Wednesday, December 27th. UBS Group boosted their price objective on T. Rowe Price Group from $69.00 to $72.00 and gave the company a “sell” rating in a research report on Friday, October 27th. Barclays boosted their price objective on T. Rowe Price Group from $79.00 to $84.00 and gave the company an “underweight” rating in a research report on Friday, October 27th. Citigroup boosted their price objective on T. Rowe Price Group from $94.00 to $95.00 and gave the company a “neutral” rating in a research report on Friday, October 27th. Finally, Jefferies Group restated a “buy” rating and issued a $104.00 price objective (up from $96.00) on shares of T. Rowe Price Group in a research report on Tuesday, October 10th. Three research analysts have rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $91.89.
About T. Rowe Price Group
T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services through its subsidiaries to investors across the world. The Company provides an array of Company sponsored the United States mutual funds, other sponsored pooled investment vehicles, sub advisory services, separate account management, recordkeeping, and related services to individuals, advisors, institutions, financial intermediaries and retirement plan sponsors.
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