The stock of T. Rowe Price Group Inc (NASDAQ:TROW) is a huge mover today! About 597,559 shares traded hands. T. Rowe Price Group Inc (NASDAQ:TROW) has declined 7.79% since March 9, 2016 and is downtrending. It has underperformed by 15.20% the S&P500.
The move comes after 5 months positive chart setup for the $16.20 billion company. It was reported on Oct, 12 by Barchart.com. We have $91.77 PT which if reached, will make NASDAQ:TROW worth $6.32 billion more.
Analysts await T. Rowe Price Group Inc (NASDAQ:TROW) to report earnings on October, 27. They expect $1.16 EPS, up 9.43% or $0.10 from last year’s $1.06 per share. TROW’s profit will be $284.64 million for 14.23 P/E if the $1.16 EPS becomes a reality. After $1.15 actual EPS reported by T. Rowe Price Group Inc for the previous quarter, Wall Street now forecasts 0.87% EPS growth.
T. Rowe Price Group Inc (NASDAQ:TROW) Ratings Coverage
Out of 10 analysts covering T. Rowe Price Group Inc (NASDAQ:TROW), 2 rate it a “Buy”, 1 “Sell”, while 7 “Hold”. This means 20% are positive. T. Rowe Price Group Inc has been the topic of 44 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The firm has “Positive” rating by Susquehanna given on Thursday, September 3. The firm earned “Hold” rating on Friday, September 9 by Deutsche Bank. The rating was downgraded by UBS on Friday, October 2 to “Neutral”. The stock has “Underweight” rating given by JP Morgan on Thursday, April 7. RBC Capital Markets maintained the shares of TROW in a report on Friday, October 23 with “Sector Perform” rating. The firm earned “Buy” rating on Thursday, June 16 by Deutsche Bank. On Tuesday, August 9 the stock rating was maintained by Barclays Capital with “Equal-Weight”. The rating was downgraded by Bank of America to “Neutral” on Tuesday, March 15. On Wednesday, July 20 the stock rating was downgraded by Deutsche Bank to “Hold”. The rating was maintained by Deutsche Bank on Wednesday, October 5 with “Hold”.
According to Zacks Investment Research, “T. Rowe Price Associates, Inc. is an investment adviser to individual and institutional investors in the sponsored T. Rowe Price Mutual Funds and other investment portfolios, including those of defined benefit and defined contribution retirement plans, trusts, and other mutual funds, some of which hold the assets of variable annuity insurance contracts.”
Insitutional Activity: The institutional sentiment decreased to 0.97 in Q2 2016. Its down 0.08, from 1.05 in 2016Q1. The ratio dropped, as 50 funds sold all T. Rowe Price Group Inc shares owned while 236 reduced positions. 48 funds bought stakes while 230 increased positions. They now own 169.28 million shares or 2.44% less from 173.52 million shares in 2016Q1.
Natl Bank Of Montreal Can accumulated 0.08% or 937,210 shares. Hills Natl Bank & Tru Company accumulated 30,606 shares or 0.82% of the stock. Moreover, Pinnacle Associates Limited has 0.18% invested in T. Rowe Price Group Inc (NASDAQ:TROW) for 111,755 shares. The Virginia-based Utd Natl Bank Va has invested 2.52% in T. Rowe Price Group Inc (NASDAQ:TROW). Blackrock Group Limited holds 0.08% of its portfolio in T. Rowe Price Group Inc (NASDAQ:TROW) for 2.03 million shares. Old Point & Ser N A, a Virginia-based fund reported 10,500 shares. Metropolitan Life Communications Ny last reported 136,864 shares in the company. Dnb Asset Mngmt As holds 20,501 shares or 0% of its portfolio. Richard Bernstein Advsr Limited Liability Company reported 31,959 shares or 0.22% of all its holdings. Rothschild Corporation Il holds 5,750 shares or 0.05% of its portfolio. Neuberger Berman Ltd Com has 0% invested in the company for 25,356 shares. Kanaly Tru owns 66 shares or 0% of their US portfolio. Advantus Cap has 24,254 shares for 0.05% of their US portfolio. Beacon Grp holds 0.1% or 6,524 shares in its portfolio. The Delaware-based Dupont Cap Management Corp has invested 0.05% in T. Rowe Price Group Inc (NASDAQ:TROW).
Insider Transactions: Since April 27, 2016, the stock had 0 insider purchases, and 1 sale for $3.89 million net activity. Shares for $3.89 million were sold by KENNEDY JAMES A C on Wednesday, April 27.
TROW Company Profile
T. Rowe Price Group, Inc., incorporated on February 4, 2000, is a financial services holding company. The Firm provides global investment management services through its subsidiaries to individual and institutional investors in the sponsored T. Rowe Price mutual funds distributed in the United States and other investment portfolios. The Firm operates through investment advisory business segment. The Company’s assets under management are accumulated from a client base across over four primary distribution channels, including third-party financial intermediaries that distribute its managed investment portfolios in the United States and other countries; individual the United States investors on a direct basis; the United States defined contribution retirement plans, and institutional investors across the globe. The assets that it manages include a range of the United States and international stock, blended asset, bond and money market mutual funds, and other investment portfolios. It offers advisory services and a distribution management service. It provides administrative services as ancillary services to its investment advisory clients.
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