Morgan Stanley Downgrades T. Rowe Price Group Inc to Underweight

Brokerage firm Morgan Stanley Downgrades its rating on T. Rowe Price Group Inc(TROW). The shares have been rated Underweight. Previously, the analysts had a Equal-Weight rating on the shares. The rating by the stock financial advisor at Morgan Stanley was issued on Mar 17, 2017 in a research report to their Investors and Clients.

T. Rowe Price Group Inc (TROW) made into the market gainers list on Wednesdays trading session with the shares advancing 0.28% or 0.19 points. Due to strong positive momentum, the stock ended at $68.79, which is also near the day’s high of $68.91. The stock began the session at $68.4 and the volume stood at 17,48,566 shares. The 52-week high of the shares is $79 and the 52 week low is $62.97. The company has a current market capitalization of $16,632 M and it has 24,17,72,170 shares in outstanding.

T. Rowe Price Group Inc(TROW) last announced its earnings results on Oct 27, 2016 for Fiscal Year 2016 and Q3.Company reported revenue of $1.09B. Analysts had an estimated revenue of $1.07B. Earnings per share were $1.17. The reported EPS was above estimates by $0.01 or 0.86%. Analysts had estimated an EPS of $1.16.

Several Insider Transactions has been reported to the SEC. On Feb 21, 2017, Anne M Whittemore (director) sold 8,326 shares at $71.01 per share price.Also, On Dec 22, 2016, Christopher D Alderson (Vice President) sold 133,244 shares at $77.67 per share price.On Dec 13, 2016, Edward A Wiese (Vice President) sold 3,000 shares at $76.12 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.

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