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

T. Rowe Price Group (NASDAQ:TROW) posted its quarterly earnings data on Wednesday. The asset manager reported $2.12 earnings per share for the quarter, missing the consensus estimate 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 period in the prior year, the firm earned $1.72 earnings per share.

T. Rowe Price Group Price Performance

Shares of T. Rowe Price Group stock traded up $2.54 on Thursday, hitting $113.24. The company had a trading volume of 493,445 shares, compared to its average volume of 1,557,934. The stock has a 50-day moving average of $116.31 and a 200-day moving average of $112.63. 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 $25.16 billion, a P/E ratio of 12.40, a P/E/G ratio of 1.78 and a beta of 1.44.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on TROW shares. Morgan Stanley upped their price objective on T. Rowe Price Group from $129.00 to $132.00 and gave the company an “equal weight” rating in a research note on Friday, December 20th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of T. Rowe Price Group from $115.00 to $120.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Wells Fargo & Company dropped their price objective on shares of T. Rowe Price Group from $118.00 to $116.00 and set an “equal weight” rating for the company in a research report on Thursday. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $113.00 price objective (up from $111.00) on shares of T. Rowe Price Group in a research report on Thursday. Finally, JPMorgan Chase & Co. decreased their price target on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a report on Monday, November 4th. Four research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to data from MarketBeat.com, T. Rowe Price Group has a consensus rating of “Hold” and a consensus price target of $115.09.

Insider Buying and Selling

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $123.35, for a total transaction of $499,197.45. Following the completion of the transaction, the vice president now directly owns 119,577 shares of the company’s stock, valued at $14,749,822.95. This trade represents a 3.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.00% of the stock is currently owned by company 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.