T. Rowe Price Group, Inc. (NASDAQ:TROW – Get Free Report) has been assigned a consensus rating of “Reduce” from the fifteen ratings firms that are covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a sell recommendation and eleven have assigned a hold recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $99.5385.
Several equities research analysts have commented on TROW shares. Morgan Stanley set a $105.00 target price on T. Rowe Price Group in a report on Monday, April 27th. TD Cowen boosted their target price on T. Rowe Price Group from $93.00 to $94.00 and gave the stock a “hold” rating in a report on Friday, May 1st. Argus raised T. Rowe Price Group to a “hold” rating in a report on Thursday, February 5th. BMO Capital Markets boosted their target price on T. Rowe Price Group from $98.00 to $110.00 and gave the stock a “market perform” rating in a report on Monday, May 4th. Finally, The Goldman Sachs Group boosted their target price on T. Rowe Price Group from $85.00 to $90.00 in a report on Friday, May 1st.
View Our Latest Stock Analysis on T. Rowe Price Group
T. Rowe Price Group Stock Up 1.4%
T. Rowe Price Group (NASDAQ:TROW – Get Free Report) last released its earnings results on Thursday, April 30th. The asset manager reported $2.52 EPS for the quarter, topping the consensus estimate of $2.37 by $0.15. T. Rowe Price Group had a return on equity of 20.60% and a net margin of 28.28%.The business had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same period in the previous year, the company posted $2.23 earnings per share. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. Equities research analysts expect that T. Rowe Price Group will post 9.63 earnings per share for the current fiscal year.
T. Rowe Price Group Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 15th will be issued a $1.30 dividend. This represents a $5.20 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend is Monday, June 15th. T. Rowe Price Group’s payout ratio is 55.73%.
Insider Buying and Selling
In other T. Rowe Price Group news, VP Stephon A. Jackson sold 3,000 shares of the business’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $102.56, for a total value of $307,680.00. Following the sale, the vice president directly owned 83,883 shares of the company’s stock, valued at approximately $8,603,040.48. The trade was a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.60% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of TROW. Woodline Partners LP lifted its holdings in shares of T. Rowe Price Group by 41.0% during the first quarter. Woodline Partners LP now owns 18,809 shares of the asset manager’s stock valued at $1,728,000 after purchasing an additional 5,467 shares in the last quarter. Focus Partners Wealth lifted its holdings in shares of T. Rowe Price Group by 10.6% during the first quarter. Focus Partners Wealth now owns 13,054 shares of the asset manager’s stock valued at $1,199,000 after purchasing an additional 1,250 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of T. Rowe Price Group by 44.8% during the second quarter. EverSource Wealth Advisors LLC now owns 1,546 shares of the asset manager’s stock valued at $149,000 after purchasing an additional 478 shares in the last quarter. Jump Financial LLC bought a new position in shares of T. Rowe Price Group during the second quarter valued at $931,000. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of T. Rowe Price Group by 5.4% during the second quarter. Daiwa Securities Group Inc. now owns 33,245 shares of the asset manager’s stock valued at $3,208,000 after purchasing an additional 1,703 shares in the last quarter. 73.39% of the stock is owned by institutional investors.
T. Rowe Price Group Company Profile
T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.
The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.
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