T. Rowe Price Group, Inc. (NASDAQ:TROW) Short Interest Down 14.2% in January

T. Rowe Price Group, Inc. (NASDAQ:TROW) was the recipient of a significant decrease in short interest in the month of January. As of January 15th, there was short interest totalling 10,260,000 shares, a decrease of 14.2% from the December 31st total of 11,960,000 shares. Currently, 4.7% of the company’s shares are sold short. Based on an average daily trading volume, of 1,340,000 shares, the days-to-cover ratio is currently 7.7 days.

Analysts Set New Price Targets

A number of equities research analysts recently commented on TROW shares. Evercore ISI upped their target price 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. TD Cowen lowered their price target on 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. StockNews.com upgraded T. Rowe Price Group from a “hold” rating to a “buy” rating in a research report on Saturday, January 25th. Wells Fargo & Company cut their price target on shares of 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, Keefe, Bruyette & Woods dropped their target price on shares of 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, January 13th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, T. Rowe Price Group has a consensus rating of “Hold” and a consensus price target of $115.82.

T. Rowe Price Group Stock Up 0.9 %

Shares of T. Rowe Price Group stock traded up $1.03 during mid-day trading on Friday, hitting $116.92. The stock had a trading volume of 3,761,382 shares, compared to its average volume of 1,201,131. The firm has a market cap of $25.97 billion, a P/E ratio of 12.79, a price-to-earnings-growth ratio of 1.74 and a beta of 1.43. T. Rowe Price Group has a 12-month low of $100.49 and a 12-month high of $125.81. The firm has a 50-day moving average of $116.90 and a two-hundred day moving average of $112.75.

T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.21. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The company had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same quarter last year, the firm posted $2.17 earnings per share. T. Rowe Price Group’s revenue was up 6.9% compared to the same quarter last year. Sell-side analysts expect that T. Rowe Price Group will post 9.42 earnings per share for the current year.

Insider Transactions at T. Rowe Price Group

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of T. Rowe Price Group stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total value of $499,197.45. Following the transaction, the vice president now 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 accessible through this link. Company insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Nilsine Partners LLC increased its stake in shares of T. Rowe Price Group by 75.5% during the fourth quarter. Nilsine Partners LLC now owns 5,509 shares of the asset manager’s stock worth $623,000 after buying an additional 2,370 shares during the period. Principal Financial Group Inc. raised its holdings in shares of T. Rowe Price Group by 2.8% in the 3rd quarter. Principal Financial Group Inc. now owns 275,978 shares of the asset manager’s stock valued at $30,062,000 after purchasing an additional 7,503 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of T. Rowe Price Group by 3.8% during the 3rd quarter. Janus Henderson Group PLC now owns 29,989 shares of the asset manager’s stock worth $3,267,000 after purchasing an additional 1,100 shares during the last quarter. Aigen Investment Management LP acquired a new position in shares of T. Rowe Price Group during the third quarter worth $516,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in T. Rowe Price Group by 3.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager’s stock valued at $745,169,000 after buying an additional 231,286 shares during the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.

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.