Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW – Get Free Report) have earned a consensus rating of “Reduce” from the fourteen research firms that are currently covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $106.1538.
Several analysts have recently commented on the stock. UBS Group set a $110.00 price target on shares of T. Rowe Price Group in a research report on Monday, August 31st. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $115.00 price objective (down from $120.00) on shares of T. Rowe Price Group in a research report on Monday, August 3rd. BMO Capital Markets raised their target price on T. Rowe Price Group from $110.00 to $120.00 and gave the stock a “market perform” rating in a research note on Monday, August 3rd. TD Cowen lifted their target price on T. Rowe Price Group from $108.00 to $110.00 and gave the company a “hold” rating in a research report on Monday, August 31st. Finally, Barclays decreased their price target on T. Rowe Price Group from $108.00 to $103.00 and set an “underweight” rating on the stock in a research note on Monday, August 3rd.
Read Our Latest Report on T. Rowe Price Group
Insider Activity
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. purchased a new position in T. Rowe Price Group during the 2nd quarter valued at about $2,728,119,000. State Street Corp increased its stake in T. Rowe Price Group by 2.7% during the second quarter. State Street Corp now owns 14,653,478 shares of the asset manager’s stock worth $1,665,954,000 after purchasing an additional 381,183 shares during the period. Goldman Sachs Group Inc. increased its stake in T. Rowe Price Group by 332.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 8,770,071 shares of the asset manager’s stock worth $897,880,000 after purchasing an additional 6,740,172 shares during the period. First Trust Advisors LP lifted its position in shares of T. Rowe Price Group by 12.6% during the first quarter. First Trust Advisors LP now owns 3,694,171 shares of the asset manager’s stock worth $332,993,000 after purchasing an additional 413,317 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of T. Rowe Price Group by 20.0% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,150,561 shares of the asset manager’s stock valued at $358,187,000 after purchasing an additional 524,544 shares during the period. 73.39% of the stock is currently owned by hedge funds and other institutional investors.
T. Rowe Price Group Trading Down 0.4%
Shares of T. Rowe Price Group stock opened at $104.17 on Friday. The firm’s 50-day moving average price is $111.94 and its 200 day moving average price is $104.91. T. Rowe Price Group has a twelve month low of $85.22 and a twelve month high of $122.00. The firm has a market capitalization of $22.22 billion, a PE ratio of 10.45, a P/E/G ratio of 3.46 and a beta of 1.46.
T. Rowe Price Group (NASDAQ:TROW – Get Free Report) last released its quarterly earnings data on Friday, July 31st. The asset manager reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.52 by $0.05. T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.26%.The company had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same quarter in the previous year, the company posted $2.24 earnings per share. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. On average, sell-side analysts predict that T. Rowe Price Group will post 10.16 EPS for the current fiscal year.
T. Rowe Price Group Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th will be paid a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend is Tuesday, September 15th. T. Rowe Price Group’s dividend payout ratio (DPR) is 52.16%.
T. Rowe Price Group Company Profile
T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland. Founded in 1937 by Thomas Rowe Price Jr., the company provides investment management, advisory and related services to individual investors, retirement plans, institutions, financial intermediaries and other clients.
The company offers a broad range of investment products and strategies, including mutual funds, exchange-traded funds, separately managed accounts and institutional portfolios.
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