T. Rowe Price Group, Inc. (NASDAQ:TROW - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $91.37 and last traded at $93.49, with a volume of 2552180 shares changing hands. The stock had previously closed at $92.04.
Wall Street Analyst Weigh In
Several research firms have recently commented on TROW. StockNews.com cut shares of T. Rowe Price Group from a "buy" rating to a "hold" rating in a report on Sunday, February 2nd. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $113.00 target price (up previously from $111.00) on shares of T. Rowe Price Group in a research note on Thursday, February 6th. Wells Fargo & Company cut their price target on T. Rowe Price Group from $118.00 to $116.00 and set an "equal weight" rating for the company in a research note on Thursday, February 6th. Barclays lowered their price target on T. Rowe Price Group from $113.00 to $105.00 and set an "underweight" rating for the company in a research note on Thursday, February 6th. Finally, Morgan Stanley cut their price objective on shares of T. Rowe Price Group from $126.00 to $121.00 and set an "equal weight" rating on the stock in a research report on Monday, February 24th. Four research analysts have rated the stock with a sell rating and eight have given a hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $114.09.
Get Our Latest Research Report on T. Rowe Price Group
T. Rowe Price Group Stock Performance
The firm has a market capitalization of $20.67 billion, a price-to-earnings ratio of 10.13, a price-to-earnings-growth ratio of 2.86 and a beta of 1.46. The business's 50 day moving average is $106.71 and its 200-day moving average is $111.23.
T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The asset manager reported $2.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.20 by ($0.08). T. Rowe Price Group had a net margin of 29.61% and a return on equity of 20.83%. During the same period last year, the company earned $1.72 earnings per share. Equities research analysts forecast that T. Rowe Price Group, Inc. will post 9.29 EPS for the current fiscal year.
T. Rowe Price Group Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a $1.27 dividend. This is an increase from T. Rowe Price Group's previous quarterly dividend of $1.24. This represents a $5.08 annualized dividend and a yield of 5.47%. The ex-dividend date is Friday, March 14th. T. Rowe Price Group's payout ratio is currently 55.46%.
Insider Transactions at T. Rowe Price Group
In other news, VP Arif Husain sold 4,112 shares of the business's stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $109.27, for a total transaction of $449,318.24. Following the transaction, the vice president now owns 36,800 shares in the company, valued at approximately $4,021,136. The trade was a 10.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.00% of the company's stock.
Institutional Investors Weigh In On T. Rowe Price Group
A number of institutional investors have recently added to or reduced their stakes in the company. Addison Advisors LLC lifted its holdings in shares of T. Rowe Price Group by 67.4% during the 4th quarter. Addison Advisors LLC now owns 231 shares of the asset manager's stock worth $26,000 after acquiring an additional 93 shares during the period. Curio Wealth LLC acquired a new stake in T. Rowe Price Group during the fourth quarter valued at approximately $27,000. Y.D. More Investments Ltd boosted its stake in T. Rowe Price Group by 124.0% in the 4th quarter. Y.D. More Investments Ltd now owns 280 shares of the asset manager's stock valued at $32,000 after buying an additional 155 shares in the last quarter. Stonebridge Financial Group LLC acquired a new stake in shares of T. Rowe Price Group in the 4th quarter valued at $32,000. Finally, Advantage Trust Co grew its stake in T. Rowe Price Group by 48.8% during the fourth quarter. Advantage Trust Co now owns 305 shares of the asset manager's stock worth $34,000 after buying an additional 100 shares during the last quarter. 73.39% of the stock is owned by institutional investors and hedge funds.
T. Rowe Price Group Company Profile
(
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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