T. Rowe Price Group, Inc. (TROW) Monthly Stock Report
Publication Date: September 22, 2024
Company Overview
T. Rowe Price Group, Inc. (TROW), based in Baltimore, Maryland, is a leading publicly-owned investment manager in the Financial Services sector, focusing on the asset management industry. Founded in 1937, the firm specializes in equity and fixed income mutual funds, serving a diverse clientele that includes individuals, institutional investors, and retirement plans. T. Rowe Price employs both fundamental and quantitative analysis and prioritizes socially responsible investing, integrating environmental, social, and governance (ESG) factors into its investment strategies. The company also engages in late-stage venture capital investments, typically ranging from $3 million to $5 million.
Current Performance and Market Analysis
As of September 2024, T. Rowe Price’s stock price stands at $108.29, positioned below a target high of $125.00, indicating potential upside for investors. The company boasts total revenues of approximately $6.8 billion, reflecting a robust financial standing. The firm’s outstanding shares total 222,598,000, with about 9,908,869 shares, or 5.16% of the float, currently shorted. This low short interest suggests generally positive investor sentiment. Analysts recommend maintaining current positions in the stock, with an average rating of 3.3 based on 12 opinions.
The stock’s 50-day moving average is slightly higher at $109.04, indicating a short-term downward trend. The asset has experienced fluctuations over the past year, with a 52-week high of $122.27 and a low of $87.43, highlighting its volatility in a dynamic market.
Investment Outlook
The financial analysis suggests a cautious approach toward T. Rowe Price, recommending a “hold” stance as market conditions evolve. The anticipated target mean price is set at $112.92, with a target median price of $111.50, reflecting more conservative growth expectations. Given these metrics and the current market environment, investors should closely monitor T. Rowe Price Group for trends that could influence future performance and valuation.
| Metric | Value |
|---|---|
| Market Cap | $24.1b |
| Total Debt | $376.5m |
| Total Cash | $2.7b |
| Shares Outstanding | 222.6m |
| Float Shares | 217.5m |
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