Shares of T. Rowe Price Group Inc (NASDAQ:TROW) have received a consensus rating of “Hold” from the fifteen analysts that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $106.00.
A number of research analysts have weighed in on TROW shares. Bank of America raised T. Rowe Price Group from a “neutral” rating to a “buy” rating and lifted their target price for the company from $113.00 to $125.00 in a report on Monday, January 8th. UBS Group upgraded T. Rowe Price Group from a “sell” rating to a “neutral” rating and lifted their price target for the company from $75.00 to $110.00 in a research report on Tuesday, January 9th. Morgan Stanley set a $113.00 price target on T. Rowe Price Group and gave the company a “hold” rating in a research report on Thursday, February 22nd. Zacks Investment Research upgraded T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $118.00 price target for the company in a research report on Wednesday, December 27th. Finally, Credit Suisse Group reiterated a “neutral” rating and set a $123.00 price target (up previously from $121.00) on shares of T. Rowe Price Group in a research report on Thursday, February 22nd.
T. Rowe Price Group (TROW) traded down $1.76 during mid-day trading on Tuesday, reaching $112.39. The company’s stock had a trading volume of 1,399,078 shares, compared to its average volume of 1,842,079. The stock has a market cap of $27,451.12, a price-to-earnings ratio of 19.12, a PEG ratio of 1.28 and a beta of 1.28. T. Rowe Price Group has a 1-year low of $66.70 and a 1-year high of $120.07.
T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Tuesday, January 30th. The asset manager reported $1.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.48 by $0.04. The business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.27 billion. T. Rowe Price Group had a return on equity of 25.30% and a net margin of 31.07%. The company’s quarterly revenue was up 17.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.21 EPS. sell-side analysts predict that T. Rowe Price Group will post 7.11 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date is Wednesday, March 14th. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $0.57. T. Rowe Price Group’s dividend payout ratio (DPR) is 38.19%.
In related news, CFO Kenneth V. Moreland sold 8,066 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $104.12, for a total value of $839,831.92. Following the completion of the sale, the chief financial officer now owns 100,796 shares in the company, valued at approximately $10,494,879.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Christopher D. Alderson sold 6,808 shares of the business’s stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $102.83, for a total value of $700,066.64. Following the completion of the sale, the vice president now owns 119,846 shares of the company’s stock, valued at approximately $12,323,764.18. The disclosure for this sale can be found here. Insiders sold a total of 140,479 shares of company stock valued at $14,471,423 in the last 90 days. 3.60% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the stock. KCM Investment Advisors LLC bought a new stake in T. Rowe Price Group in the 4th quarter worth approximately $309,000. Xact Kapitalforvaltning AB lifted its position in T. Rowe Price Group by 7.5% in the 4th quarter. Xact Kapitalforvaltning AB now owns 107,532 shares of the asset manager’s stock worth $11,283,000 after buying an additional 7,525 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in T. Rowe Price Group by 4.5% in the 4th quarter. Envestnet Asset Management Inc. now owns 53,167 shares of the asset manager’s stock worth $5,577,000 after buying an additional 2,274 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. lifted its position in T. Rowe Price Group by 41.3% in the 4th quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 15,400 shares of the asset manager’s stock worth $1,616,000 after buying an additional 4,500 shares during the last quarter. Finally, Sterling Capital Management LLC lifted its position in T. Rowe Price Group by 8.4% in the 4th quarter. Sterling Capital Management LLC now owns 780,315 shares of the asset manager’s stock worth $81,878,000 after buying an additional 60,624 shares during the last quarter. Institutional investors own 72.16% of the company’s stock.
About T. Rowe Price Group
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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