T. Rowe Price (NASDAQ:TROW) – Equities researchers at William Blair cut their FY2019 earnings estimates for shares of T. Rowe Price in a research note issued to investors on Monday, March 12th, Zacks Investment Research reports. William Blair analyst C. Shutler now anticipates that the asset manager will post earnings per share of $6.87 for the year, down from their prior estimate of $7.09.
TROW has been the subject of a number of other research reports. Bank of America upgraded T. Rowe Price from a “neutral” rating to a “buy” rating and raised their price target for the company from $113.00 to $125.00 in a research report on Monday, January 8th. BidaskClub upgraded T. Rowe Price from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 27th. Credit Suisse Group lifted their price objective on T. Rowe Price from $123.00 to $128.00 and gave the stock a “neutral” rating in a research report on Thursday. Morgan Stanley set a $113.00 price objective on T. Rowe Price and gave the stock a “hold” rating in a research report on Thursday, February 22nd. Finally, TheStreet upgraded T. Rowe Price from a “c+” rating to a “b+” rating in a research report on Monday, March 5th. One analyst has rated the stock with a sell rating, eight have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. T. Rowe Price currently has an average rating of “Hold” and a consensus target price of $110.80.
Shares of TROW stock opened at $104.38 on Tuesday. T. Rowe Price has a fifty-two week low of $67.62 and a fifty-two week high of $120.07. The firm has a market capitalization of $26,311.35, a PE ratio of 19.22, a PEG ratio of 1.22 and a beta of 1.21.
T. Rowe Price (NASDAQ:TROW) last released its quarterly earnings data on Tuesday, January 30th. The asset manager reported $1.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.48 by $0.04. T. Rowe Price had a return on equity of 25.30% and a net margin of 31.07%. The firm had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter in the prior year, the business posted $1.21 earnings per share. T. Rowe Price’s revenue was up 17.9% compared to the same quarter last year.
Large investors have recently modified their holdings of the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in T. Rowe Price by 59.3% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 200,580 shares of the asset manager’s stock worth $18,183,000 after buying an additional 74,687 shares during the last quarter. Prudential Financial Inc. boosted its stake in T. Rowe Price by 94.1% in the 3rd quarter. Prudential Financial Inc. now owns 709,261 shares of the asset manager’s stock worth $64,295,000 after buying an additional 343,926 shares during the last quarter. California Public Employees Retirement System boosted its stake in T. Rowe Price by 4.0% in the 3rd quarter. California Public Employees Retirement System now owns 630,687 shares of the asset manager’s stock worth $57,172,000 after buying an additional 24,012 shares during the last quarter. Mackenzie Financial Corp acquired a new stake in T. Rowe Price in the 3rd quarter worth about $28,685,000. Finally, Asset Management One Co. Ltd. boosted its stake in T. Rowe Price by 24.0% in the 3rd quarter. Asset Management One Co. Ltd. now owns 492,202 shares of the asset manager’s stock worth $44,553,000 after buying an additional 95,361 shares during the last quarter. 72.84% of the stock is currently owned by hedge funds and other institutional investors.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 29th. Investors of record on Thursday, March 15th were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date was Wednesday, March 14th. This is a boost from T. Rowe Price’s previous quarterly dividend of $0.57. T. Rowe Price’s dividend payout ratio (DPR) is currently 51.57%.
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T. Rowe Price Company Profile
T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.
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