T. Rowe Price Group Inc. (NASDAQ:TROW) finished Wednesday with an addition of $2.96 to close at $110.37, an upside of 2.76 percent. An average of 1,424,280 shares of common stock have been traded in the last five days. There was a gain of $1.28 in the past week, and it reached a new high 3 times over the past 12 months. The last 20 days have seen an average of 1,669,490 shares traded, while the 50-day average volume stands at 1,452,396.
TROW stock has decreased by -7.54% in the last month. The company shares reached their 1-month lowest point of $106.46 on 08/21/23. With the stock rallying to its 52-week high on 07/28/23, shares of the company touched a low of $93.53 and a high of $134.64 in 52 weeks. It has reached a new high 10 times so far this year and achieved 1.20% or $1.31 in price. In spite of this, the price is down -18.03% from the 52-week high.
Insider Transactions
TROW stock investors should be aware that T. Rowe Price Group Inc. (TROW) stock had its last reported insider trading activity 113 days ago on May 03. In this transaction, the insider spent $200,627. Vice President, Thomson Andrew Justin Mackenzi, disposed of 11,969 shares at a price of $114.52 on Feb 21. The insider now owns more than $1,370,749 worth of shares. Prior to that, Vice President McCormick Andrew C. went on to Sale 14,154 shares at $116.73 each on Feb 10. An amount of $1,652,130 was transacted.
Valuation Metrics
T. Rowe Price Group Inc. (TROW) has a trailing price-to-earnings (P/E) ratio of 16.47. The stock’s beta is 1.34. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 3.99, the price-to-book (PB) ratio at 2.67, and the price-to-cash flow ratio at 19.35.
Financial Health
Further, the company has a long term debt to equity ratio of 0.00 and a total debt to equity ratio of 0.01 for the quarter ending June 29. Its gross profit as reported stood at $2.37 billion compared to revenue of $6.49 billion.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, T. Rowe Price Group Inc.’s return on assets was 12.50%.
Earnings Surprise
In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $476.4 million in the quarter, while revenues of $421.5 million were grew 28.72%. The analyst consensus anticipated T. Rowe Price Group Inc.’s latest quarter earnings to come in at $1.73 per share, but it turned out to be $2.02, a 16.80% surprise. For the quarter, EBITDA amounted to $642.3 million. At the end of the quarter ending June 29, T. Rowe Price Group Inc.’s stock balance sheet showed total debt was $423.4 million. Shareholders own equity worth $224.29 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at T. Rowe Price Group Inc. (TROW) price momentum. RSI 9-day as of the close on 23 August was 43.33%, suggesting the stock is Neutral, with historical volatility in this time frame at 20.16%.
As of today, TROW’s price is $108.31 +1.17% or $1.28 from its 5-day moving average. However, the stock’s current price level is -0.26% below the SMA50 and +9.04% above the SMA200.
The stochastic %K and %D were 16.17% and 9.53%, respectively, and the average true range (ATR) was 2.41. With the 14-day stochastic at 33.16% and the average true range at 2.59, the RSI (14) stands at 43.30%. The stock has reached -1.03 on the 9-day MACD Oscillator while the 14-day reading was at -2.92.
Analyst Ratings
Citigroup launched coverage on T. Rowe Price Group Inc. (NASDAQ: TROW) in its analyst report released on May 19, 2023. The firm assigned the stock a Sell rating. The consensus rating for T. Rowe Price Group Inc. (TROW) among analysts is Underweight. According to current brokerage recommendations, 6 brokerage firms advise that investors sell TROW, while 7 suggest investors hold. There are 1 analyst who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 0 others rate it as a “buy”.
What is TROW’s price target for the next 12 months?
Analysts predict a range of price targets between $82.00 and $123.00, with a median target of $107.50. Taking a look at these predictions, the average price target given by analysts for T. Rowe Price Group Inc. (TROW) stock is $104.58.
