T. Rowe Price Group (NASDAQ:TROW - Free Report) had its price target upped by Evercore ISI from $112.00 to $113.00 in a research report report published on Thursday morning,Benzinga reports. They currently have an in-line rating on the asset manager's stock.
A number of other equities research analysts also recently weighed in on the company. TD Cowen cut their price target on T. Rowe Price Group from $120.00 to $116.00 and set a "hold" rating for the company in a research note on Monday. The Goldman Sachs Group reduced their target price on shares of T. Rowe Price Group from $106.00 to $102.00 and set a "sell" rating for the company in a research note on Thursday, October 3rd. Keefe, Bruyette & Woods restated a "market perform" rating and set a $120.00 price target (down previously from $121.00) on shares of T. Rowe Price Group in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of T. Rowe Price Group from $113.00 to $115.00 and gave the company a "hold" rating in a research note on Monday. Finally, Wells Fargo & Company increased their target price on shares of T. Rowe Price Group from $109.00 to $112.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 9th. Four equities 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 company currently has an average rating of "Hold" and an average price target of $115.09.
Check Out Our Latest Analysis on TROW
T. Rowe Price Group Stock Performance
Shares of TROW stock traded down $1.25 during trading on Thursday, hitting $120.06. 1,351,363 shares of the company were exchanged, compared to its average volume of 1,263,357. The firm has a market capitalization of $26.67 billion, a price-to-earnings ratio of 13.14, a P/E/G ratio of 1.73 and a beta of 1.41. The business's 50-day simple moving average is $108.79 and its 200 day simple moving average is $111.82. T. Rowe Price Group has a twelve month low of $90.02 and a twelve month high of $122.27.
T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last posted its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 EPS for the quarter, beating the consensus estimate of $2.36 by $0.21. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The business had revenue of $1.79 billion for the quarter, compared to analysts' expectations of $1.84 billion. During the same period in the previous year, the company posted $2.17 EPS. T. Rowe Price Group's revenue was up 6.9% on a year-over-year basis. On average, equities analysts forecast that T. Rowe Price Group will post 9.27 earnings per share for the current fiscal year.
T. Rowe Price Group Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be issued a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a yield of 4.13%. The ex-dividend date is Friday, December 13th. T. Rowe Price Group's dividend payout ratio (DPR) is currently 54.27%.
Insider Transactions at T. Rowe Price Group
In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the stock in a transaction on 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 directly owns 123,624 shares of the company's stock, valued at $12,712,255.92. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the firm's stock in a transaction that occurred on Friday, September 6th. The stock was 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jessica M. Hiebler sold 484 shares of the business's stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $104.73, for a total value of $50,689.32. Following the sale, the insider now owns 13,939 shares in the company, valued at approximately $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. Corporate insiders own 2.00% of the company's stock.
Hedge Funds Weigh In On T. Rowe Price Group
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Iron Horse Wealth Management LLC boosted 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 purchasing an additional 110 shares in the last quarter. Lynx Investment Advisory bought a new stake in T. Rowe Price Group during the second quarter worth about $29,000. Hexagon Capital Partners LLC increased its holdings in shares of T. Rowe Price Group by 54.7% during the third quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager's stock worth $32,000 after buying an additional 104 shares in the last quarter. Family Firm Inc. bought a new position in shares of T. Rowe Price Group in the second quarter valued at approximately $36,000. Finally, Versant Capital Management Inc raised its stake in shares of T. Rowe Price Group by 660.5% in the second quarter. Versant Capital Management Inc now owns 327 shares of the asset manager's stock valued at $38,000 after acquiring an additional 284 shares during the last quarter. 73.39% of the stock is owned by institutional investors.
T. Rowe Price Group Company Profile
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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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