A number of firms have modified their ratings and price targets on shares of T. Rowe Price Group (NASDAQ: TROW) recently:

  • 10/10/2017 – T. Rowe Price Group had its “buy” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $104.00 price target on the stock, up previously from $96.00.
  • 10/5/2017 – T. Rowe Price Group was upgraded by analysts at Morgan Stanley from an “underweight” rating to an “equal” rating. They now have a $93.00 price target on the stock, up previously from $77.00.
  • 9/28/2017 – T. Rowe Price Group was upgraded by analysts at Goldman Sachs Group, Inc. (The) from a “neutral” rating to a “buy” rating. They now have a $100.00 price target on the stock, up previously from $85.00.
  • 9/26/2017 – T. Rowe Price Group was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $98.00 price target on the stock. According to Zacks, “T. Rowe Price’s shares outperformed the industry over the last six months. However, the company's earnings surprise history is not that impressive. The company has surpassed the Zacks Consensus Estimate for earnings in only one of the trailing four quarters. Given the strategic initiatives, management estimates operating expenses to grow 10% for 2017. Also, the regulatory pressure across the investment management industry remains another key concern. However, the company’s planned strategic initiatives like investment in technology and advisory services, strengthening distribution platform, along with introduction of products, will likely stoke long-term growth. Further, the company remains debt-free with sufficient liquidity and is focused on boosting shareholders’ confidence through steady capital deployment activities. Recently, the company recorded improved AUM for July and August 2017.”
  • 9/13/2017 – T. Rowe Price Group was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “T. Rowe Price’s shares outperformed the industry over the last six months. However, the company's earnings surprise history is not that impressive. The company has surpassed the Zacks Consensus Estimate for earnings in only one of the trailing four quarters. Given the strategic initiatives, management estimates operating expenses to grow 10% for 2017. Also, the regulatory pressure across the investment management industry remains another key concern. However, the company’s planned strategic initiatives like investment in technology and advisory services, strengthening distribution platform, along with introduction of products, will likely stoke long-term growth. Further, the company remains debt-free with sufficient liquidity and is focused on boosting shareholders’ confidence through steady capital deployment activities. Recently, the company recorded improved AUM for July 2017.”
  • 9/12/2017 – T. Rowe Price Group was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $93.00 price target on the stock. According to Zacks, “T. Rowe Price’s shares outperformed the industry over the last six months. The company’s second-quarter 2017 adjusted earnings outpaced the Zacks Consensus Estimate. Higher revenues and assets under management (AUM) were positives. However, elevated expenses were a concern. Given the strategic initiatives, management estimates operating expenses to grow 10% for 2017. Also, the regulatory pressure across the investment management industry remains another key concern. However, the company’s planned strategic initiatives like investment in technology and advisory services, strengthening distribution platform, along with introduction of products, will likely stoke long-term growth. Further, the company remains debt-free with sufficient liquidity and is focused on boosting shareholders’ confidence through steady capital deployment activities. Recently, the company recorded improved AUM for July 2017.”
  • 9/8/2017 – T. Rowe Price Group is now covered by analysts at Barclays PLC. They set an “underweight” rating and a $79.00 price target on the stock.
  • 8/21/2017 – T. Rowe Price Group was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “T. Rowe Price’s shares outperformed the industry over the last six months. The company’s second-quarter 2017 adjusted earnings outpaced the Zacks Consensus Estimate. Higher revenues and assets under management (AUM) were positives. However, elevated expenses were a concern. Given the strategic initiatives, management estimates operating expenses to grow 10% for 2017. Also, the regulatory pressure across the investment management industry remains another key concern. However, the company’s planned strategic initiatives like investment in technology and advisory services, strengthening distribution platform, along with introduction of products, will likely stoke long-term growth. Further, the company remains debt-free with sufficient liquidity and is focused on boosting shareholders’ confidence through steady capital deployment activities. Recently, the company recorded improved AUM for July 2017.”
  • 8/20/2017 – T. Rowe Price Group had its “buy” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $96.00 price target on the stock.

T. Rowe Price Group, Inc. (NASDAQ TROW) traded down 0.09% during midday trading on Tuesday, hitting $94.73. 921,586 shares of the company were exchanged. The stock has a 50 day moving average of $87.25 and a 200-day moving average of $78.08. T. Rowe Price Group, Inc. has a 1-year low of $62.97 and a 1-year high of $95.65. The stock has a market capitalization of $22.77 billion, a price-to-earnings ratio of 16.27 and a beta of 1.25.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Tuesday, July 25th. The asset manager reported $1.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.27 by $0.01. The business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.16 billion. T. Rowe Price Group had a net margin of 32.64% and a return on equity of 24.38%. The business’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.76 earnings per share. Equities analysts expect that T. Rowe Price Group, Inc. will post $5.79 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, September 28th. Investors of record on Thursday, September 14th were issued a $0.57 dividend. The ex-dividend date was Wednesday, September 13th. This represents a $2.28 annualized dividend and a yield of 2.41%. T. Rowe Price Group’s dividend payout ratio (DPR) is 39.18%.

In other news, insider David Oestreicher sold 10,394 shares of the firm’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $83.07, for a total transaction of $863,429.58. Following the transaction, the insider now directly owns 82,299 shares in the company, valued at $6,836,577.93. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Kenneth V. Moreland sold 13,041 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $90.43, for a total transaction of $1,179,297.63. Following the transaction, the chief financial officer now owns 135,028 shares in the company, valued at $12,210,582.04. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,924 shares of company stock worth $3,187,333. 3.60% of the stock is owned by corporate insiders.

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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