Shares of T. Rowe Price Group, Inc. (NASDAQ:TROW – Get Free Report) have been given a consensus recommendation of “Reduce” by the fifteen brokerages that are currently covering the stock, Marketbeat reports. Four analysts have rated the stock with a sell recommendation and eleven have issued a hold recommendation on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $100.0769.
Several equities analysts recently issued reports on the company. Keefe, Bruyette & Woods upped their price objective on T. Rowe Price Group from $95.00 to $107.00 and gave the company a “market perform” rating in a research report on Friday, May 1st. TD Cowen upped their price objective on T. Rowe Price Group from $93.00 to $94.00 and gave the company a “hold” rating in a research report on Friday, May 1st. Zacks Research raised T. Rowe Price Group from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 13th. Jefferies Financial Group lowered their price target on T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating on the stock in a report on Wednesday, April 8th. Finally, BMO Capital Markets increased their price target on T. Rowe Price Group from $98.00 to $110.00 and gave the company a “market perform” rating in a report on Monday, May 4th.
Check Out Our Latest Research Report on TROW
Insider Buying and Selling at T. Rowe Price Group
Hedge Funds Weigh In On T. Rowe Price Group
Several hedge funds and other institutional investors have recently modified their holdings of the company. Parallel Advisors LLC lifted its holdings in shares of T. Rowe Price Group by 63.2% during the 1st quarter. Parallel Advisors LLC now owns 8,415 shares of the asset manager’s stock valued at $759,000 after buying an additional 3,260 shares during the period. Concorde Asset Management LLC lifted its holdings in shares of T. Rowe Price Group by 3.9% during the 1st quarter. Concorde Asset Management LLC now owns 2,730 shares of the asset manager’s stock valued at $246,000 after buying an additional 102 shares during the period. Axiom Investment Management LLC bought a new position in shares of T. Rowe Price Group during the 1st quarter valued at $76,000. Segall Bryant & Hamill LLC bought a new position in shares of T. Rowe Price Group during the 1st quarter valued at $632,000. Finally, Bank of America Corp DE lifted its holdings in shares of T. Rowe Price Group by 24.5% during the 1st quarter. Bank of America Corp DE now owns 1,298,516 shares of the asset manager’s stock valued at $117,048,000 after buying an additional 255,905 shares during the period. 73.39% of the stock is owned by institutional investors.
T. Rowe Price Group Stock Performance
TROW stock opened at $109.64 on Wednesday. The stock has a market capitalization of $23.49 billion, a PE ratio of 11.75, a price-to-earnings-growth ratio of 5.61 and a beta of 1.50. T. Rowe Price Group has a 12-month low of $85.22 and a 12-month high of $118.22. The stock’s 50 day simple moving average is $100.82 and its 200 day simple moving average is $99.62.
T. Rowe Price Group (NASDAQ:TROW – Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The asset manager reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.37 by $0.15. The business had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.85 billion. T. Rowe Price Group had a return on equity of 20.60% and a net margin of 28.28%.The firm’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.23 EPS. On average, research analysts predict that T. Rowe Price Group will post 9.63 earnings per share for the current year.
T. Rowe Price Group Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Monday, June 15th will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend is Monday, June 15th. T. Rowe Price Group’s dividend payout ratio is presently 55.73%.
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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