T. Rowe Price Group (TROW) Receiving Positive Press Coverage, Report Finds
Media stories about T. Rowe Price Group (NASDAQ:TROW) have trended positive this week, Accern Sentiment reports. Accern identifies negative and positive news coverage by analyzing more than twenty million news and blog sources. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. T. Rowe Price Group earned a media sentiment score of 0.38 on Accern’s scale. Accern also gave news coverage about the asset manager an impact score of 46.1033778976289 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.
These are some of the news articles that may have effected Accern Sentiment’s scoring:
- T. Rowe Price Upgraded on Tax Reform (finance.yahoo.com)
- T. Rowe Price Group Inc (TROW) Receives Consensus Recommendation of “Hold” from Analysts (americanbankingnews.com)
- Bank of America: buy T. Rowe Price (finance.yahoo.com)
- T. Rowe Price Group (TROW) Rating Increased to Buy at Bank of America (americanbankingnews.com)
- T. Rowe Price Group, Inc. (TROW) Is At $107.23 Formed Wedge; Chesapeake Energy (CHK) SI Increased By 1.28% – Screen Gonzo (screengonzo.com)
A number of research analysts recently issued reports on the company. Morgan Stanley upgraded T. Rowe Price Group from an “underweight” rating to an “equal” rating and increased their price objective for the stock from $77.00 to $93.00 in a report on Thursday, October 5th. Zacks Investment Research upgraded T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $98.00 price objective for the company in a report on Tuesday, September 26th. Goldman Sachs Group upgraded T. Rowe Price Group from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $85.00 to $100.00 in a report on Thursday, September 28th. Barclays increased their price objective on T. Rowe Price Group from $79.00 to $84.00 and gave the stock an “underweight” rating in a report on Friday, October 27th. Finally, Jefferies Group reiterated a “buy” rating and set a $104.00 price objective (up from $96.00) on shares of T. Rowe Price Group in a report on Tuesday, October 10th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $98.70.
T. Rowe Price Group (NASDAQ:TROW) traded up $0.52 during mid-day trading on Wednesday, reaching $112.27. The company’s stock had a trading volume of 1,044,069 shares, compared to its average volume of 1,238,943. The company has a market capitalization of $27,180.00, a P/E ratio of 18.37, a price-to-earnings-growth ratio of 1.73 and a beta of 1.32. T. Rowe Price Group has a 12-month low of $65.33 and a 12-month high of $112.70.
T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Thursday, October 26th. The asset manager reported $1.56 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.36 by $0.20. The firm had revenue of $1.22 billion during 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%. The business’s revenue was up 11.8% compared to the same quarter last year. During the same period last year, the company earned $1.17 earnings per share. sell-side analysts predict that T. Rowe Price Group will post 5.29 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, December 28th. Shareholders of record on Thursday, December 14th were paid a $0.57 dividend. The ex-dividend date was Wednesday, December 13th. This represents a $2.28 dividend on an annualized basis and a yield of 2.03%. T. Rowe Price Group’s dividend payout ratio is 37.32%.
In other news, CFO Kenneth V. Moreland sold 8,066 shares of T. Rowe Price Group stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $104.12, for a total transaction of $839,831.92. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP W. Sharps Robert sold 5,000 shares of T. Rowe Price Group stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $98.64, for a total value of $493,200.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 204,980 shares of company stock valued at $20,776,729. Corporate insiders own 3.60% of the company’s stock.
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About T. Rowe Price Group
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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