T. Rowe Price Group (TROW) – Analysts’ Recent Ratings Changes

Several analysts have recently updated their ratings and price targets for T. Rowe Price Group (NASDAQ: TROW):

• 4/17/2024 – T. Rowe Price Group had its price target raised by analysts at Morgan Stanley from $114.00 to $125.00. They now have an “equal weight” rating on the stock.
• 4/16/2024 – T. Rowe Price Group had its price target raised by analysts at JPMorgan Chase & Co. from $94.00 to $103.00. They now have an “underweight” rating on the stock.
• 4/12/2024 – T. Rowe Price Group had its price target raised by analysts at UBS Group AG from $100.00 to $109.00. They now have a “sell” rating on the stock.
• 4/11/2024 – T. Rowe Price Group was upgraded by analysts at Keefe, Bruyette & Woods from an “underperform” rating to a “market perform” rating. They now have a $120.00 price target on the stock, up previously from $106.00.
• 4/8/2024 – T. Rowe Price Group was upgraded by analysts at TD Cowen from a “sell” rating to a “hold” rating. They now have a $114.00 price target on the stock, up previously from $92.00.
• 4/5/2024 – T. Rowe Price Group had its price target raised by analysts at Citigroup Inc. from $110.00 to $125.00. They now have a “neutral” rating on the stock.

T. Rowe Price Group Stock Performance

Shares of NASDAQ:TROW traded down $2.23 on Thursday, hitting $108.83. The stock had a trading volume of 2,161,391 shares, compared to its average volume of 1,424,685. T. Rowe Price Group, Inc. has a twelve month low of $87.43 and a twelve month high of $132.76. The firm’s 50 day moving average price is $114.98 and its 200-day moving average price is $106.98. The company has a market capitalization of $24.34 billion, a price-to-earnings ratio of 14.02, a price-to-earnings-growth ratio of 2.10 and a beta of 1.40.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Thursday, February 8th. The asset manager reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.12. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.63 billion. T. Rowe Price Group had a net margin of 27.69% and a return on equity of 18.41%. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.74 EPS. As a group, sell-side analysts predict that T. Rowe Price Group, Inc. will post 8.36 EPS for the current year.

T. Rowe Price Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a $1.24 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $1.22. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.56%. T. Rowe Price Group’s dividend payout ratio is 63.92%.

Insider Activity

In related news, Director Freeman A. Hrabowski III sold 8,740 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the completion of the sale, the director now directly owns 21,073 shares of the company’s stock, valued at approximately $2,493,357.36. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Jessica M. Hiebler sold 1,138 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $107.13, for a total transaction of $121,913.94. Following the completion of the sale, the insider now directly owns 14,113 shares of the company’s stock, valued at approximately $1,511,925.69. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Freeman A. Hrabowski III sold 8,740 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $118.32, for a total transaction of $1,034,116.80. Following the transaction, the director now directly owns 21,073 shares of the company’s stock, valued at $2,493,357.36. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On T. Rowe Price Group

Several large investors have recently made changes to their positions in TROW. Confluence Investment Management LLC acquired a new stake in T. Rowe Price Group during the 1st quarter valued at $130,386,000. International Assets Investment Management LLC grew its position in T. Rowe Price Group by 8,968.6% in the fourth quarter. International Assets Investment Management LLC now owns 902,146 shares of the asset manager’s stock valued at $97,152,000 after acquiring an additional 892,198 shares during the last quarter. UBS Group AG grew its position in T. Rowe Price Group by 473.3% in the fourth quarter. UBS Group AG now owns 975,226 shares of the asset manager’s stock valued at $105,022,000 after acquiring an additional 805,106 shares during the last quarter. Norges Bank bought a new position in T. Rowe Price Group in the fourth quarter valued at about $80,831,000. Finally, Hsbc Holdings PLC grew its position in T. Rowe Price Group by 66.8% in the fourth quarter. Hsbc Holdings PLC now owns 765,080 shares of the asset manager’s stock valued at $82,434,000 after acquiring an additional 306,524 shares during the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

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.