FY2017 Earnings Estimate for T. Rowe Price Group, Inc. (TROW) Issued By William Blair

FY2017 Earnings Estimate for T. Rowe Price Group, Inc. (TROW) Issued By William Blair

T. Rowe Price Group, Inc. (NASDAQ:TROW) – Analysts at William Blair cut their FY2017 earnings per share (EPS) estimates for shares of T. Rowe Price Group in a research note issued on Monday. William Blair analyst C. Shutler now expects that the brokerage will post earnings per share of $4.58 for the year, down from their previous forecast of $4.97.

A number of other brokerages have also commented on TROW. Zacks Investment Research lowered shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Tuesday, October 18th. UBS AG raised shares of T. Rowe Price Group from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $66.00 to $82.00 in a report on Thursday, November 10th. Citigroup Inc. reissued a “neutral” rating on shares of T. Rowe Price Group in a report on Sunday, October 30th. J P Morgan Chase & Co reissued an “underweight” rating on shares of T. Rowe Price Group in a report on Thursday, January 12th. Finally, Barclays PLC decreased their price objective on shares of T. Rowe Price Group from $72.00 to $68.00 and set an “equal weight” rating on the stock in a report on Thursday, October 13th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company’s stock. T. Rowe Price Group presently has a consensus rating of “Hold” and a consensus target price of $75.08.

Shares of T. Rowe Price Group (NASDAQ:TROW) opened at 70.26 on Thursday. The firm has a market cap of $17.10 billion, a price-to-earnings ratio of 15.85 and a beta of 1.29. The stock’s 50 day moving average is $75.42 and its 200-day moving average is $70.65. T. Rowe Price Group has a 12-month low of $62.97 and a 12-month high of $79.00.

In other news, VP Edward A. Wiese sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, December 13th. The shares were sold at an average price of $76.12, for a total value of $228,360.00. Following the transaction, the vice president now owns 150,898 shares of the company’s stock, valued at approximately $11,486,355.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Christopher D. Alderson sold 133,244 shares of the firm’s stock in a transaction dated Tuesday, December 20th. The shares were sold at an average price of $77.67, for a total transaction of $10,349,061.48. Following the completion of the transaction, the vice president now directly owns 190,473 shares in the company, valued at approximately $14,794,037.91. The disclosure for this sale can be found here. Insiders sold a total of 140,756 shares of company stock worth $10,923,582 in the last ninety days. Insiders own 3.60% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Fenimore Asset Management Inc. raised its position in shares of T. Rowe Price Group by 11.0% in the third quarter. Fenimore Asset Management Inc. now owns 491,250 shares of the company’s stock valued at $32,668,000 after buying an additional 48,575 shares during the period. Morgan Stanley raised its position in T. Rowe Price Group by 51.9% in the third quarter. Morgan Stanley now owns 1,379,136 shares of the company’s stock valued at $91,713,000 after buying an additional 471,401 shares during the last quarter. Verity & Verity LLC raised its position in T. Rowe Price Group by 36.2% in the third quarter. Verity & Verity LLC now owns 52,704 shares of the company’s stock valued at $3,504,000 after buying an additional 13,996 shares during the last quarter. Stephens Inc. AR raised its position in T. Rowe Price Group by 19.3% in the third quarter. Stephens Inc. AR now owns 55,773 shares of the company’s stock valued at $3,709,000 after buying an additional 9,017 shares during the last quarter. Finally, Union Bankshares Corp raised its position in T. Rowe Price Group by 2.7% in the third quarter. Union Bankshares Corp now owns 49,233 shares of the company’s stock valued at $3,274,000 after buying an additional 1,278 shares during the last quarter. 70.96% of the stock is currently owned by institutional investors.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services to individual and institutional investors in the sponsored T. Rowe Price mutual funds distributed in the United States and other investment portfolios. It operates through investment advisory business segment.

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