T. Rowe Price Group (TROW) Raised to Neutral at UBS Group
UBS Group upgraded shares of T. Rowe Price Group (NASDAQ:TROW) from a sell rating to a neutral rating in a research report report published on Tuesday, 99wallstreet.com reports. They currently have $110.00 price target on the asset manager’s stock, up from their prior price target of $75.00.
Several other analysts also recently issued reports on TROW. Zacks Investment Research downgraded T. Rowe Price Group from a buy rating to a hold rating and set a $115.00 price objective on the stock. in a research report on Friday, January 5th. Bank of America upgraded T. Rowe Price Group from a neutral rating to a buy rating and increased their target price for the stock from $113.00 to $125.00 in a research report on Monday. Goldman Sachs Group upgraded T. Rowe Price Group from a neutral rating to a buy rating and increased their target price for the stock from $85.00 to $100.00 in a research report on Thursday, September 28th. Morgan Stanley upgraded T. Rowe Price Group from an underweight rating to an equal rating and increased their target price for the stock from $77.00 to $93.00 in a research report on Thursday, October 5th. Finally, Barclays increased their target price on T. Rowe Price Group from $79.00 to $84.00 and gave the stock an underweight rating in a research report on Friday, October 27th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $98.70.
T. Rowe Price Group (TROW) traded up $1.89 on Tuesday, reaching $114.95. The company’s stock had a trading volume of 478,026 shares, compared to its average volume of 1,328,688. The stock has a market capitalization of $27,400.00, a P/E ratio of 18.81, a price-to-earnings-growth ratio of 1.73 and a beta of 1.32. T. Rowe Price Group has a one year low of $65.33 and a one year high of $113.07.
T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Thursday, October 26th. The asset manager reported $1.56 EPS for the quarter, topping the Zacks’ consensus estimate of $1.36 by $0.20. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.22 billion. T. Rowe Price Group had a return on equity of 24.76% and a net margin of 33.10%. T. Rowe Price Group’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.17 earnings per share. research analysts predict that T. Rowe Price Group will post 5.29 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, December 28th. Shareholders of record on Thursday, December 14th were paid a dividend of $0.57 per share. The ex-dividend date was Wednesday, December 13th. This represents a $2.28 annualized dividend and a yield of 1.98%. T. Rowe Price Group’s dividend payout ratio is presently 37.32%.
In other T. Rowe Price Group news, VP Christopher D. Alderson sold 6,808 shares of the company’s stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $102.83, for a total transaction of $700,066.64. Following the completion of the sale, the vice president now directly owns 119,846 shares in the company, valued at $12,323,764.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kenneth V. Moreland sold 14,419 shares of the company’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $97.07, for a total value of $1,399,652.33. Following the sale, the chief financial officer now owns 125,264 shares of the company’s stock, valued at $12,159,376.48. The disclosure for this sale can be found here. Insiders have sold 204,980 shares of company stock valued at $20,776,729 over the last 90 days. 3.60% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the company. Signature Estate & Investment Advisors LLC acquired a new stake in shares of T. Rowe Price Group in the third quarter valued at about $118,000. Grove Bank & Trust grew its stake in shares of T. Rowe Price Group by 178.7% in the third quarter. Grove Bank & Trust now owns 1,310 shares of the asset manager’s stock valued at $119,000 after buying an additional 840 shares in the last quarter. Quadrant Capital Group LLC grew its stake in shares of T. Rowe Price Group by 5.4% in the second quarter. Quadrant Capital Group LLC now owns 1,749 shares of the asset manager’s stock valued at $121,000 after buying an additional 89 shares in the last quarter. Sun Life Financial INC grew its stake in shares of T. Rowe Price Group by 19,500.0% in the second quarter. Sun Life Financial INC now owns 1,764 shares of the asset manager’s stock valued at $131,000 after buying an additional 1,755 shares in the last quarter. Finally, Mckinley Capital Management LLC Delaware acquired a new stake in shares of T. Rowe Price Group in the second quarter valued at about $152,000. Institutional investors and hedge funds own 72.38% of the company’s stock.
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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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