T. Rowe Price Group (NASDAQ:TROW) Posts Quarterly Earnings Results, Misses Expectations By $0.08 EPS

T. Rowe Price Group (NASDAQ:TROW) announced its quarterly earnings results on Wednesday. The asset manager reported $2.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.08), Zacks reports. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. During the same quarter last year, the company posted $1.72 EPS.

T. Rowe Price Group Price Performance

NASDAQ TROW opened at $111.44 on Friday. The firm’s fifty day moving average price is $116.31 and its 200 day moving average price is $112.63. T. Rowe Price Group has a 12 month low of $100.49 and a 12 month high of $125.81. The company has a market capitalization of $24.76 billion, a price-to-earnings ratio of 12.19, a price-to-earnings-growth ratio of 1.78 and a beta of 1.44.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on TROW shares. Wells Fargo & Company reduced their price target on shares of T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating on the stock in a research note on Thursday. Morgan Stanley boosted 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. StockNews.com cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Sunday, February 2nd. TD Cowen dropped 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 report on Monday, November 4th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $113.00 price target (up previously from $111.00) on shares of T. Rowe Price Group in a research report on Thursday. Four analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. Based on data from MarketBeat, T. Rowe Price Group has an average rating of “Hold” and a consensus price target of $115.09.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total value of $499,197.45. Following the completion of the sale, the vice president now owns 119,577 shares in the company, valued at approximately $14,749,822.95. The trade was a 3.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.00% of the stock is owned by corporate insiders.

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.