By otakuyassine3@gmail.com 
T. Rowe Price Group, Inc. (NASDAQ:TROW – Get Free Report) saw 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. Based on an average daily trading volume, of 1,340,000 shares, the days-to-cover ratio is presently 7.7 days. Currently, 4.7% of the shares of the stock are short sold.
Analysts Set New Price Targets
TROW has been the subject of a number of research reports. Wells Fargo & Company cut their target price on shares of T. Rowe Price Group from $124.00 to $118.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. The Goldman Sachs Group reduced their target price on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a research note on Thursday, October 3rd. StockNews.com raised T. Rowe Price Group from a “hold” rating to a “buy” rating in a research report on Saturday, January 25th. JPMorgan Chase & Co. reduced their price objective on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a research report on Monday, November 4th. Finally, Morgan Stanley lifted their price objective on T. Rowe Price Group from $129.00 to $132.00 and gave the stock an “equal weight” rating in a research report on Friday, December 20th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $115.82.
Check Out Our Latest Analysis on T. Rowe Price Group
Insiders Place Their Bets
In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of T. Rowe Price Group stock in a transaction on Tuesday, December 10th. The stock was 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 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 2.00% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On T. Rowe Price Group
Several institutional investors have recently bought and sold shares of TROW. Iron Horse Wealth Management LLC boosted its position in T. Rowe Price Group by 90.9% during the 3rd quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock worth $25,000 after purchasing an additional 110 shares during the period. Hexagon Capital Partners LLC grew its stake in shares of T. Rowe Price Group by 54.7% in the third quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock valued at $32,000 after buying an additional 104 shares in the last quarter. Y.D. More Investments Ltd raised its holdings in shares of T. Rowe Price Group by 124.0% during the 4th quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager’s stock valued at $32,000 after buying an additional 155 shares during the period. Stonebridge Financial Group LLC acquired a new position in T. Rowe Price Group during the 4th quarter worth approximately $32,000. Finally, True Wealth Design LLC acquired a new stake in shares of T. Rowe Price Group during the third quarter valued at about $37,000. 73.39% of the stock is currently owned by hedge funds and other institutional investors.
T. Rowe Price Group Price Performance
NASDAQ:TROW traded up $1.03 during trading hours on Friday, reaching $116.92. 3,761,382 shares of the company were exchanged, compared to its average volume of 1,442,329. T. Rowe Price Group has a 52-week low of $100.49 and a 52-week high of $125.81. The stock has a 50 day simple moving average of $116.96 and a 200 day simple moving average of $112.76. The firm has a market cap of $25.97 billion, a price-to-earnings ratio of 12.79, a PEG ratio of 1.74 and a beta of 1.43.
T. Rowe Price Group (NASDAQ:TROW – Get Free Report) last announced its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, topping the consensus estimate of $2.36 by $0.21. The company had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.84 billion. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The firm’s revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the firm posted $2.17 earnings per share. On average, analysts predict that T. Rowe Price Group will post 9.42 EPS for the current fiscal year.
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.
Further Reading
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