T. Rowe Price Group (TROW) Earning Favorable Press Coverage, Report Finds
Press coverage about T. Rowe Price Group (NASDAQ:TROW) has been trending positive this week, Accern Sentiment Analysis reports. The research group scores the sentiment of news coverage by analyzing more than 20 million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. T. Rowe Price Group earned a coverage optimism score of 0.41 on Accern’s scale. Accern also gave news stories about the asset manager an impact score of 46.5712363290795 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the next several days.
Here are some of the media headlines that may have effected Accern Sentiment Analysis’s rankings:
- T. Rowe Price Group Inc (TROW) Shares Bought by Sun Life Financial INC (americanbankingnews.com)
- T. Rowe Price Group Inc (TROW) Holdings Raised by Geode Capital Management LLC (americanbankingnews.com)
- Douglass Winthrop Advisors LLC Has $2.95 Million Position in T. Rowe Price Group Inc (TROW) (americanbankingnews.com)
- T. Rowe Price Group Inc (TROW) Holdings Trimmed by W. E. Donoghue & Co. LLC (americanbankingnews.com)
- Baird Financial Group Inc. Has $1.64 Million Position in T. Rowe Price Group Inc (TROW) (americanbankingnews.com)
A number of equities analysts have issued reports on the stock. Morgan Stanley cut their price objective on shares of T. Rowe Price Group from $115.00 to $112.00 and set a “hold” rating on the stock in a report on Tuesday, February 13th. ValuEngine raised shares of T. Rowe Price Group from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. BidaskClub downgraded shares of T. Rowe Price Group from a “strong-buy” rating to a “buy” rating in a report on Wednesday, January 31st. Citigroup lowered their target price on T. Rowe Price Group from $120.00 to $115.00 and set a “neutral” rating on the stock in a research note on Thursday, February 22nd. Finally, Credit Suisse Group reiterated a “neutral” rating and set a $123.00 target price (up from $121.00) on shares of T. Rowe Price Group in a research note on Thursday, February 22nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $106.00.
T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Tuesday, January 30th. The asset manager reported $1.52 EPS for the quarter, topping the Zacks’ consensus estimate of $1.48 by $0.04. The company had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.27 billion. T. Rowe Price Group had a return on equity of 25.30% and a net margin of 31.07%. The business’s revenue for the quarter was up 17.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.21 EPS. sell-side analysts expect that T. Rowe Price Group will post 7.11 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Thursday, March 15th will be paid a $0.70 dividend. This is a boost from T. Rowe Price Group’s previous quarterly dividend of $0.57. This represents a $2.80 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date of this dividend is Wednesday, March 14th. T. Rowe Price Group’s payout ratio is currently 38.19%.
In related news, CFO Kenneth V. Moreland sold 8,066 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $104.12, for a total value of $839,831.92. Following the sale, the chief financial officer now directly owns 100,796 shares in the company, valued at approximately $10,494,879.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Freeman A. Hrabowski III sold 4,000 shares of the business’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $101.59, for a total value of $406,360.00. The disclosure for this sale can be found here. Insiders sold a total of 140,479 shares of company stock worth $14,471,423 over the last 90 days. 3.60% of the stock is currently owned by company insiders.
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T. Rowe Price Group Company Profile
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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