T. Rowe Price Group (NASDAQ:TROW - Free Report) had its target price decreased by TD Cowen from $120.00 to $116.00 in a report released on Monday morning, Benzinga reports. TD Cowen currently has a hold rating on the asset manager's stock.
A number of other equities research analysts also recently issued reports on TROW. Morgan Stanley increased their target price on shares of T. Rowe Price Group from $127.00 to $129.00 and gave the stock an "equal weight" rating in a research report on Monday. JPMorgan Chase & Co. cut their price objective on T. Rowe Price Group from $116.00 to $115.00 and set an "underweight" rating for the company in a report on Monday. Barclays boosted their target price on T. Rowe Price Group from $101.00 to $110.00 and gave the company an "underweight" rating in a research note on Monday. StockNews.com lowered T. Rowe Price Group from a "buy" rating to a "hold" rating in a report on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on T. Rowe Price Group from $113.00 to $115.00 and gave the stock a "hold" rating in a report on Monday. Four equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $114.73.
View Our Latest Research Report on TROW
T. Rowe Price Group Stock Up 0.4 %
Shares of TROW traded up $0.43 during mid-day trading on Monday, reaching $112.49. The company's stock had a trading volume of 1,921,108 shares, compared to its average volume of 1,257,208. T. Rowe Price Group has a 1 year low of $90.02 and a 1 year high of $122.27. The company has a market cap of $25.04 billion, a price-to-earnings ratio of 13.22, a price-to-earnings-growth ratio of 1.71 and a beta of 1.41. The business has a fifty day moving average of $108.32 and a 200 day moving average of $111.69.
T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, topping analysts' consensus estimates of $2.36 by $0.21. The firm had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.84 billion. T. Rowe Price Group had a return on equity of 19.90% and a net margin of 28.66%. The business's quarterly revenue was up 6.9% compared to the same quarter last year. During the same period last year, the company posted $2.17 EPS. On average, analysts predict that T. Rowe Price Group will post 9.16 earnings per share for the current year.
T. Rowe Price Group Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a dividend yield of 4.41%. T. Rowe Price Group's dividend payout ratio is presently 58.56%.
Insider Activity at T. Rowe Price Group
In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business's stock in a transaction on Friday, September 6th. The shares were sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the transaction, the vice president now owns 123,624 shares of the company's stock, valued at approximately $12,712,255.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $102.83, for a total value of $1,230,772.27. Following the completion of the sale, the vice president now owns 123,624 shares in the company, valued at approximately $12,712,255.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jessica M. Hiebler sold 484 shares of the business's stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $104.73, for a total value of $50,689.32. Following the transaction, the insider now owns 13,939 shares in the company, valued at $1,459,831.47. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Iron Horse Wealth Management LLC raised its stake in shares of T. Rowe Price Group by 90.9% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager's stock valued at $25,000 after buying an additional 110 shares in the last quarter. Lynx Investment Advisory acquired a new position in T. Rowe Price Group in the second quarter worth about $29,000. Hexagon Capital Partners LLC raised its position in T. Rowe Price Group by 54.7% in the third quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager's stock worth $32,000 after purchasing an additional 104 shares in the last quarter. Family Firm Inc. bought a new position in T. Rowe Price Group during the second quarter worth about $36,000. Finally, Versant Capital Management Inc boosted its holdings in T. Rowe Price Group by 660.5% during the second quarter. Versant Capital Management Inc now owns 327 shares of the asset manager's stock valued at $38,000 after purchasing an additional 284 shares in the last quarter. 73.39% of the stock is owned by institutional investors.
T. Rowe Price Group Company Profile
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Get Free Report)
T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.
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