T. Rowe Price Group, Inc. (NASDAQ:TROW) has been assigned an average rating of “Hold” from the fifteen ratings firms that are presently covering the firm, MarketBeat reports. Three analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $89.67.
A number of brokerages have weighed in on TROW. Citigroup Inc. boosted their target price on shares of T. Rowe Price Group from $94.00 to $95.00 and gave the stock a “neutral” rating in a research note on Friday, October 27th. Barclays PLC boosted their target price on shares of T. Rowe Price Group from $79.00 to $84.00 and gave the stock an “underweight” rating in a research note on Friday, October 27th. UBS AG boosted their target price on shares of T. Rowe Price Group from $69.00 to $72.00 and gave the stock a “sell” rating in a research note on Friday, October 27th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $104.00 target price (up from $96.00) on shares of T. Rowe Price Group in a research note on Tuesday, October 10th. Finally, Morgan Stanley raised shares of T. Rowe Price Group from an “underweight” rating to an “equal” rating and boosted their target price for the stock from $77.00 to $93.00 in a research note on Thursday, October 5th.
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In other news, insider Jessica M. Hiebler sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $84.29, for a total value of $84,290.00. Following the completion of the transaction, the insider now owns 8,461 shares in the company, valued at $713,177.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kenneth V. Moreland sold 13,041 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $90.43, for a total transaction of $1,179,297.63. Following the completion of the transaction, the chief financial officer now owns 135,028 shares of the company’s stock, valued at approximately $12,210,582.04. The disclosure for this sale can be found here. Insiders sold 18,204 shares of company stock valued at $1,640,922 in the last quarter. Corporate insiders own 3.60% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Alpha Cubed Investments LLC acquired a new position in T. Rowe Price Group during the third quarter worth $256,000. Reliance Trust Co. of Delaware acquired a new stake in T. Rowe Price Group in the third quarter valued at $304,000. JPMorgan Chase & Co. lifted its stake in T. Rowe Price Group by 1.3% in the second quarter. JPMorgan Chase & Co. now owns 11,756,348 shares of the asset manager’s stock valued at $872,439,000 after acquiring an additional 156,326 shares during the last quarter. Ffcm LLC lifted its stake in T. Rowe Price Group by 6.4% in the second quarter. Ffcm LLC now owns 37,660 shares of the asset manager’s stock valued at $2,795,000 after acquiring an additional 2,261 shares during the last quarter. Finally, OLD Point Trust & Financial Services N A lifted its stake in T. Rowe Price Group by 11.6% in the third quarter. OLD Point Trust & Financial Services N A now owns 15,334 shares of the asset manager’s stock valued at $1,390,000 after acquiring an additional 1,600 shares during the last quarter. Institutional investors and hedge funds own 72.28% of the company’s stock.
T. Rowe Price Group (NASDAQ TROW) traded up $0.45 during trading hours on Friday, reaching $95.98. 839,804 shares of the company’s stock were exchanged, compared to its average volume of 1,372,236. The firm has a market capitalization of $23,256.91, a price-to-earnings ratio of 18.75, a PEG ratio of 1.76 and a beta of 1.29. T. Rowe Price Group has a 52-week low of $65.33 and a 52-week high of $97.35.
T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Thursday, October 26th. The asset manager reported $1.56 EPS for the quarter, beating the Zacks’ consensus estimate of $1.36 by $0.20. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. T. Rowe Price Group had a net margin of 33.10% and a return on equity of 24.76%. The company’s revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.17 earnings per share. equities research analysts anticipate that T. Rowe Price Group will post 5.29 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Thursday, December 14th will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.38%. The ex-dividend date of this dividend is Wednesday, December 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 37.38%.
T. Rowe Price Group Company Profile
T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services through its subsidiaries to investors across the world. The Company provides an array of Company sponsored the United States mutual funds, other sponsored pooled investment vehicles, sub advisory services, separate account management, recordkeeping, and related services to individuals, advisors, institutions, financial intermediaries and retirement plan sponsors.
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