why T. Rowe Price Group Inc. [TROW] is a Good Choice for Investors After New Price Target of $91.00

T. Rowe Price Group Inc. [NASDAQ: TROW] traded at a high on 11/10/22, posting a 16.36 gain after which it closed the day’ session at $124.65. The company report on November 10, 2022 that T. ROWE PRICE GROUP REPORTS PRELIMINARY MONTH-END ASSETS UNDER MANAGEMENT FOR OCTOBER 2022.

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T. Rowe Price Group, Inc. (NASDAQ-GS: TROW), today reported preliminary month-end assets under management of $1.28 trillion as of October 31, 2022. Client transfers from mutual funds to other portfolios, including trusts and separate accounts, were $0.7 billion in October 2022 and $11.0 billion for the year-to-date period ended October 31, 2022. These client transfers include $0.6 billion and $7.7 billion, respectively, transferred to the target date retirement trusts during October and the year-to-date period.

The following table shows the firm’s assets under management as of October 31, 2022, and for the prior quarter- and year-end by investment vehicle, by asset class, and in the firm’s target date retirement portfolios.

The results of the trading session contributed to over 4424547 shares changing hands. Over the past one week, the price volatility of T. Rowe Price Group Inc. stands at 5.01% while the volatility over the past one month is 4.28%.

The market cap for TROW stock reached $27.72 billion, with 225.30 million shares outstanding and 219.09 million shares in the current float. Compared to the average trading volume of 1.73M shares, TROW reached a trading volume of 4424547 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about T. Rowe Price Group Inc. [TROW]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for TROW shares is $91.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on TROW stock is a recommendation set at 3.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Credit Suisse have made an estimate for T. Rowe Price Group Inc. shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on October 19, 2022. While these analysts kept the previous recommendation, UBS raised their target price from $138 to $88. The new note on the price target was released on July 11, 2022, representing the official price target for T. Rowe Price Group Inc. stock. Previously, the target price had yet another drop from $122 to $107, while Keefe Bruyette kept a Underperform rating on TROW stock. On June 13, 2022, analysts decreased their price target for TROW shares from 160 to 135.

The Average True Range (ATR) for T. Rowe Price Group Inc. is set at 5.06, with the Price to Sales ratio for TROW stock in the period of the last 12 months amounting to 4.00. The Price to Book ratio for the last quarter was 3.15, with the Price to Cash per share for the same quarter was set at 10.64. Price to Free Cash Flow for TROW in the course of the last twelve months was 18.02.

How has TROW stock performed recently?

T. Rowe Price Group Inc. [TROW] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 23.15. With this latest performance, TROW shares gained by 27.10% in over the last four-week period, additionally plugging by 4.54% over the last 6 months – not to mention a drop of -41.50% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for TROW stock in for the last two-week period is set at 68.69, with the RSI for the last a single of trading hit 75.78, and the three-weeks RSI is set at 63.40 for T. Rowe Price Group Inc. [TROW]. The present Moving Average for the last 50 days of trading for this stock 109.23, while it was recorded at 109.69 for the last single week of trading, and 125.75 for the last 200 days.

T. Rowe Price Group Inc. [TROW]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and T. Rowe Price Group Inc. [TROW] shares currently have an operating margin of +49.90 and a Gross Margin at +84.38. T. Rowe Price Group Inc.’s Net Margin is presently recorded at +39.14.

Return on Equity for this stock inclined to 35.89, with Return on Assets sitting at 25.65.

Insider trade positions for T. Rowe Price Group Inc. [TROW]

There are presently around $21,482 million, or 79.70% of TROW stock, in the hands of institutional investors. The top three institutional holders of TROW stocks are: VANGUARD GROUP INC with ownership of 20,382,598, which is approximately 0.986% of the company’s market cap and around 0.40% of the total institutional ownership; BLACKROCK INC., holding 19,468,583 shares of the stock with an approximate value of $2.43 billion in TROW stocks shares; and STATE STREET CORP, currently with $1.6 billion in TROW stock with ownership of nearly 3.816% of the company’s market capitalization.

Positions in T. Rowe Price Group Inc. stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 539 institutional holders increased their position in T. Rowe Price Group Inc. [NASDAQ:TROW] by around 16,830,345 shares. Additionally, 427 investors decreased positions by around 8,985,345 shares, while 161 investors held positions by with 146,519,731 shares. The mentioned changes placed institutional holdings at 172,335,421 shares, according to the latest SEC report filing. TROW stock had 78 new institutional investments in for a total of 3,945,111 shares, while 109 institutional investors sold positions of 1,520,471 shares during the same period.


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