T. Rowe Price Group, Inc. (NASDAQ:TROW) had its price objective lifted by UBS AG from $69.00 to $72.00 in a research report released on Friday, October 27th, www.benzinga.com reports. The firm currently has a sell rating on the asset manager’s stock.
Other equities analysts also recently issued reports about the company. Zacks Investment Research upgraded T. Rowe Price Group from a hold rating to a buy rating and set a $93.00 target price on the stock in a research report on Tuesday, September 12th. Jefferies Group LLC reiterated a buy rating and set a $96.00 target price on shares of T. Rowe Price Group in a research report on Sunday, August 20th. ValuEngine upgraded T. Rowe Price Group from a hold rating to a buy rating in a research report on Wednesday, August 2nd. BidaskClub downgraded T. Rowe Price Group from a strong-buy rating to a buy rating in a research report on Tuesday, August 1st. Finally, Goldman Sachs Group, Inc. (The) upgraded T. Rowe Price Group from a neutral rating to a buy rating and upped their price target for the stock from $85.00 to $100.00 in a research note on Thursday, September 28th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. T. Rowe Price Group has an average rating of Hold and a consensus price target of $89.50.
Shares of T. Rowe Price Group (NASDAQ TROW) opened at $93.57 on Friday. T. Rowe Price Group has a 12-month low of $65.33 and a 12-month high of $97.35. The stock has a market capitalization of $22,672.95, a price-to-earnings ratio of 18.27, a PEG ratio of 1.72 and a beta of 1.29.
T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Thursday, October 26th. The asset manager reported $1.56 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.36 by $0.20. T. Rowe Price Group had a return on equity of 24.76% and a net margin of 33.10%. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the prior year, the business posted $1.17 earnings per share. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. analysts forecast that T. Rowe Price Group will post 5.29 EPS for the current fiscal year.
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The business also recently announced a quarterly dividend, which will be paid on Thursday, December 28th. Stockholders of record on Thursday, December 14th will be paid a $0.57 dividend. The ex-dividend date is Wednesday, December 13th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.44%. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 37.38%.
In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $84.29, for a total transaction of $84,290.00. Following the completion of the sale, the insider now owns 8,461 shares in the company, valued at approximately $713,177.69. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Anne M. Whittemore sold 4,163 shares of the firm’s stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $90.64, for a total value of $377,334.32. Following the sale, the director now owns 29,070 shares of the company’s stock, valued at approximately $2,634,904.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,204 shares of company stock valued at $1,640,922. 3.60% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. RFG Advisory Group LLC lifted its holdings in T. Rowe Price Group by 3.4% during the 1st quarter. RFG Advisory Group LLC now owns 4,648 shares of the asset manager’s stock worth $320,000 after buying an additional 155 shares during the last quarter. Ngam Advisors L.P. lifted its holdings in T. Rowe Price Group by 11.5% during the 1st quarter. Ngam Advisors L.P. now owns 26,239 shares of the asset manager’s stock worth $1,788,000 after buying an additional 2,697 shares during the last quarter. CWA Asset Management Group LLC lifted its holdings in T. Rowe Price Group by 47.8% during the 1st quarter. CWA Asset Management Group LLC now owns 32,696 shares of the asset manager’s stock worth $2,228,000 after buying an additional 10,575 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new position in T. Rowe Price Group during the 1st quarter worth approximately $118,342,000. Finally, Cleararc Capital Inc. lifted its holdings in T. Rowe Price Group by 0.5% during the 1st quarter. Cleararc Capital Inc. now owns 5,944 shares of the asset manager’s stock worth $405,000 after buying an additional 31 shares during the last quarter. Hedge funds and other institutional investors own 72.28% of the company’s stock.
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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