T. Rowe Price Group, Inc. (NASDAQ:TROW – Get Rating) received a consensus rating of “Hold” from the twelve analysts who cover the company, MarketBeat reports. Four equity research analysts gave the stock a sell rating and five gave the company a hold rating. The 1-year average price target among brokerages that have issued ratings on the stock in the past year is $105.20.
Several brokerages have recently weighed in on TROW. Goldman Sachs Group raised its price target on T. Rowe Price Group shares from $84.00 to $96.00 and gave the stock a “sell” rating in a Wednesday 23 research note. november. StockNews.com took over coverage of T. Rowe Price Group stocks in a Wednesday, Oct. 12 research note. They have set a “holding” rating on the stock. Morgan Stanley lowered its price target on T. Rowe Price Group shares from $105.00 to $100.00 and set an “equal weight” rating on the stock in a Monday, Oct. 31 research note . JPMorgan Chase & Co. raised its price target on T. Rowe Price Group shares from $90.00 to $93.00 and gave the company an “underweight” rating in a Tuesday research note October 18. Finally, Credit Suisse Group assumed coverage for T. Rowe Price Group shares in a research note on Wednesday, October 19. They set an “underperform” rating and a target price of $70.00 on the stock.
The T. Rowe Price group grew by 3.8%
Shares of TROW opened at $112.29 on Friday. T. Rowe Price Group has a 12-month low of $93.53 and a 12-month high of $193.82. The company’s 50-day moving average is $116.15 and its 200-day moving average is $116.02. The stock has a market capitalization of $25.09 billion, a P/E ratio of 12.89, a P/E/G ratio of 2.28 and a beta of 1.28.
T. Rowe Price Group (NASDAQ:TROW – Get Rating) last released its quarterly results on Thursday, October 27. The asset manager reported earnings per share of $1.86 for the quarter, beating the consensus estimate of $1.83 by $0.03. The company posted revenue of $1.59 billion for the quarter, versus $1.53 billion for analysts. T. Rowe Price Group achieved a net margin of 29.35% and a return on equity of 23.88%. The company’s revenue decreased by 18.7% compared to the same quarter last year. In the same quarter last year, the company posted EPS of $3.27. As a group, stock analysts predict T. Rowe Price Group will post earnings per share of 7.86 for the current year.
T. Rowe Price Group Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, December 29. Shareholders of record on Friday, December 16 received a dividend of $1.20. The ex-dividend date was Thursday, December 15. This represents a dividend of $4.80 on an annualized basis and a dividend yield of 4.27%. The dividend payout ratio (DPR) of T. Rowe Price Group is currently 55.11%.
Insider buying and selling
In other news from T. Rowe Price Group, Vice Chairman Robert CT Higginbotham sold 6,619 shares of the company in a trade dated Friday, Dec. 9. The shares were sold at an average price of $120.48, for a total value of $797,457.12. Following the completion of the sale, the vice president now directly owns 70,465 shares of the company, valued at approximately $8,489,623.20. The transaction was disclosed in a filing with the SEC, which is available via this link. In other news, Vice Chairman Robert CT Higginbotham sold 6,619 shares of the company in a trade that took place on Friday, December 9. The shares were sold at an average price of $120.48, for a total value of $797,457.12. Following the completion of the sale, the vice president now owns 70,465 shares of the company, valued at approximately $8,489,623.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Additionally, insider William J. Stromberg sold 10,000 shares of the company in a trade that took place on Friday, November 11. The stock was sold at an average price of $124.15, for a total transaction of $1,241,500.00. Following the completion of the sale, the insider now directly owns 41,000 shares of the company, valued at approximately $5,090,150. The disclosure of this sale can be found here. 1.00% of the shares are held by insiders.
Institutional investors weigh in on T. Rowe Price Group
Several hedge funds have recently changed their holdings in the company. Fairfield Bush & CO. bought a new position in shares of T. Rowe Price Group during the 1st quarter for a value of approximately $150,000. Roundview Capital LLC purchased a new stock position in T. Rowe Price Group during Q1 for approximately $2,092,000. Cibc World Market Inc. increased its stake in shares of T. Rowe Price Group by 75.9% during the 1st quarter. Cibc World Market Inc. now owns 27,065 shares of the asset manager worth $4,092,000 after acquiring 11,675 additional shares last quarter. Dimensional Fund Advisors LP increased its stake in shares of T. Rowe Price Group by 5.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,158,038 shares of the asset manager worth $175,099,000 after acquiring an additional 60,580 shares in the last quarter. Finally, Prudential PLC increased its stake in shares of T. Rowe Price Group by 47.1% during the 1st quarter. Prudential PLC now owns 12,117 shares of the asset manager worth $1,832,000 after acquiring 3,880 additional shares last quarter. Hedge funds and other institutional investors own 76.58% of the company’s shares.
About T. Rowe Price Group
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T. Rowe Price Group, Inc. is a publicly owned investment manager. The firm offers its services to individuals, institutional investors, pension plans, financial intermediaries and institutions. It initiates and manages equity and fixed income mutual funds. The company invests in public equity and fixed income markets around the world.
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