T. Rowe Price Group Inc (TROW) reported quarterly earnings results on Tuesday, Jul-26-2016. The company said it had a profit of $1.15 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.40. Analysts had a consensus of $0.75. The company posted revenue of $1044.70 million in the period, compared to analysts expectations of $1031.13 million. The company’s revenue was down -2.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.24 EPS.
Many Wall Street Analysts have commented on T. Rowe Price Group Inc. Shares were Downgraded by Deutsche Bank on Jul 20, 2016 to ” Hold” and Lowered the Price Target to $ 75 from a previous price target of $79 .
T. Rowe Price Group Inc closed down -0.01 points or -0.01% at $74.07 with 12,38,962 shares getting traded on Wednesday. Post opening the session at $73.73, the shares hit an intraday low of $72.73 and an intraday high of $74.145 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
In a different news, on Apr 29, 2016, James A C Kennedy (director) sold 50,000 shares at $77.75 per share price. According to the SEC, on Mar 7, 2016, Donald B Jr Hebb (director) sold 4,163 shares at $72.63 per share price. On Mar 1, 2016, Anne M Whittemore (director) sold 8,326 shares at $69.28 per share price, according to the Form-4 filing with the securities and exchange commission.
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. Its assets under management are accumulated from a client base across four primary distribution channels: third-party financial intermediaries that distribute its managed investment portfolios in the United States and other countries; individual United States investors on a direct basis; the United States defined contribution retirement plans and institutional investors globally. 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.