The Vanguard Group, Inc. has recently announced that it has increased stake in T. Rowe Price Group Inc. (NASDAQ:TROW) by 19.53%. After grabbing 23.23 million shares, the institutional investor is now in possession of 3.8 million shares of the Financial Company. The new investment brought the stake of investor firm to 10.40% having worth around $2.53 billion. Moreover, SSgA Funds Management, Inc. increased its share by 1.46 million to have a control over 14.27 million shares. And Fayez Sarofim & Co. raised its holdings to 725.0 shares by acquiring 9.09 million shares or 4.07% of the stake.
T. Rowe Price Group Inc. (TROW) concluded trading on 02/02/23 at a closing price of $128.75, with 3.94 million shares of worth about $507.89 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 1.61% during that period and on Thursday the price saw a gain of about 7.26%. Currently the company’s common shares owned by public are about 225.30M shares, out of which, 218.28M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 16 analysts are covering the TROW stock and their offered price forecasts bring an average price target of $93.31. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $113.00 and could fall to a lowest price of $65.00. The stock’s current price level is -35.53% below of average price target set by the analysts, while a dip to estimated low would result in loss of -98.08% for the stock. However, touching the estimated high of $113.00 would mean a loss of -13.94% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 131 times over the past 12 months. They bought 290,410 shares in 86 of the transactions. In 45 selling transactions, insiders dumped 225,420 shares.
Vanguard Total Stock Market Index, Vanguard Mid Cap Index Fund, and Vanguard 500 Index Fund are the top 3 mutual funds which are holding stakes in T. Rowe Price Group Inc. Vanguard Total Stock Market Index is currently holding 6.8 million shares of worth totaling $741.28 million. The company recently came selling 9322.0 shares which brought its stake up to 3.04% of the company’s outstanding shares. Vanguard Mid Cap Index Fund bought 2.56 million shares, after which its hold over company’s outstanding shares expand to 2.33%, leaving 5.2 million shares with the mutual fund that have a worth of about $567.58 million. Vanguard 500 Index Fund, after selling 5.17 million shares, have now control over 2.31% of the stake in the company. It holds 4948.0 shares of worth $563.34 million.
T. Rowe Price Group Inc. (NASDAQ: TROW) started trading at $121.96, above $1.92 from concluding price of the previous day. However, the stock later moved at a day high price of 132.47, or with a gain of 7.26%. Stock saw a price change of 12.37% in past 5 days and over the past one month there was a price change of 17.96%. Year-to-date (YTD), TROW shares are showing a performance of 18.05% which decreased to -17.34% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $93.53 but also hit the highest price of $157.77 during that period. The average intraday trading volume for T. Rowe Price Group Inc. shares is 1.88 million. The stock is currently trading 10.82% above its 20-day simple moving average (SMA20), while that difference is up 9.94% for SMA50 and it goes to 9.10% higher than SMA200.
The Vanguard Group, Inc. acquired 23.23 million shares of T. Rowe Price Group Inc. having value of about $2.53 billion. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 3.8 million shares in the company valued at close to $488661612.5, or have control over 19.53% stake in the company. T. Rowe Price Group Inc. (NASDAQ: TROW) currently have 225.30M outstanding shares and institutions hold larger chunk of about 79.40% of that. Holding of mutual funds in the company is about 36.92% while other institutional holders and individual stake holders have control over 42.34% and 13.53% of the stake respectively.
The stock has a current market capitalization of $28.35B and its 3Y-monthly beta is at 1.30. PE ratio of stock for trailing 12 months is 19.26, while it has posted earnings per share of $6.69 in the same period. It has a debt-to-equity ratio of 0.00. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for TROW, volatility over the week remained 4.88% while standing at 3.49% over the month.
Analysts are in expectations that T. Rowe Price Group Inc. (TROW) stock would likely to be making an EPS of $1.69 in the current quarter, while forecast for next quarter EPS is $1.69 and it is $7.48 for next year. For the current quarter EPS, analysts have given the company a lowest target $1.58 which is $1.89 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $3.17 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 31.50% while it is estimated to increase by 6.54% in next year.
Analysts at 16 brokerage firms have issued recommendations for the T. Rowe Price Group Inc. (TROW)’s stock and average of those rates the stock at a “Hold” and assign it a score of 3.50. Out of those 16 Wall Street analysts, 0 recommended a “Buy” rating, while 8 were in favor recommending the stock as a “Hold” and 6 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Wells Fargo on December 15, 2022 offering an Equal weight rating for the stock and assigned a target price of $125 to it. Coverage by Credit Suisse stated T. Rowe Price Group Inc. (TROW) stock as an Underperform in their note to investors on October 19, 2022, suggesting a price target of $70 for the stock. On July 11, 2022, UBS Downgrade their recommendations, while on June 29, 2022, Keefe Bruyette Downgrade their ratings for the stock with a price target of $107. Stock get a Market perform rating from BMO Capital Markets on June 13, 2022.
