T. Rowe Price Group (TROW): Today's Featured Financial Services Winner
T. Rowe Price Group (TROW) pushed the Financial Services industry higher today making it today's featured financial services winner. The industry as a whole closed the day up 2.6%. By the end of trading, T. Rowe Price Group rose $2.13 (3.8%) to $57.70 on average volume. Throughout the day, 1.6 million shares of T. Rowe Price Group exchanged hands as compared to its average daily volume of 1.5 million shares. The stock ranged in a price between $55.95-$57.70 after having opened the day at $56.19 as compared to the previous trading day's close of $55.57. Other companies within the Financial Services industry that increased today were: Penson Worldwide (PNSN), up 111.8%, Dominion Resources Black Warrior (DOM), up 12.1%, Pzena Investment Management (PZN), up 8.8%, and Direct Markets Holdings (MKTS), up 8.5%. T. Rowe Price Group, Inc. is a publicly owned asset management holding company. The firm primarily provides its services to individual and institutional investors, retirement plans, and financial intermediaries. T. Rowe Price Group has a market cap of $14.09 billion and is part of the financial sector. The company has a P/E ratio of 18.7, equal to the average financial services industry P/E ratio and above the S&P 500 P/E ratio of 17.7. Shares are down 2.4% year to date as of the close of trading on Tuesday. Currently there are five analysts that rate T. Rowe Price Group a buy, no analysts rate it a sell, and 14 rate it a hold. TheStreet Ratings rates T. Rowe Price Group as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, increase in net income and growth in earnings per share. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself.
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