BALTIMORE, July 15, 2019 – Shares of T. Rowe Price Group Inc. (NASDAQ: TROW) inclined 1.18% to $110.61. The stock grabbed the investor’s attention and traded 830,418 shares as compared to its average daily volume of 1.05M shares. The stock’s institutional ownership stands at 71.80%.
T. Rowe Price Group Inc. (TROW) reported first-quarter earnings of $512.60M. The Baltimore-based company said it had net income of $2.09 per share. Earnings, adjusted for non-recurring gains, came to $1.87 per share. The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.63 per share.
The financial services firm posted revenue of $1.33B in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $1.28B.
TROW has a market value of $26.19B while its EPS was booked as $7.69 in the last 12 months. The stock has 236.76M shares outstanding. In the profitability analysis, the company has net profit margin of 34.40%. Beta value of the company was 1.06; beta is used to measure riskiness of the security. Analyst recommendation for this stock stands at 2.60.