T. Rowe Price Group’s (TROW) “Hold (C)” Rating Reiterated at Weiss Ratings

Weiss Ratings reaffirmed their hold (c) rating on shares of T. Rowe Price Group (NASDAQ:TROW) in a research note issued to investors on Wednesday morning,Weiss Ratings reports.

TROW has been the subject of several other research reports. Wells Fargo & Company lifted their price target on T. Rowe Price Group from $98.00 to $108.00 and gave the stock an “equal weight” rating in a research report on Friday, July 11th. The Goldman Sachs Group lifted their price target on T. Rowe Price Group from $91.00 to $92.00 and gave the stock a “sell” rating in a research report on Friday, October 3rd. Morgan Stanley lifted their price target on T. Rowe Price Group from $116.00 to $125.00 and gave the stock a “positive” rating in a research report on Monday. Bank of America lifted their price target on T. Rowe Price Group from $91.00 to $97.00 and gave the stock an “underperform” rating in a research report on Thursday, October 2nd. Finally, BMO Capital Markets assumed coverage on T. Rowe Price Group in a research report on Friday, October 3rd. They issued a “market perform” rating and a $108.00 price target for the company. One equities research analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $104.69.

T. Rowe Price Group Trading Down 4.3%

Shares of TROW stock opened at $101.43 on Wednesday. T. Rowe Price Group has a 12-month low of $77.85 and a 12-month high of $125.81. The stock’s 50-day moving average price is $105.82 and its 200-day moving average price is $98.43. The stock has a market capitalization of $22.29 billion, a price-to-earnings ratio of 11.33, a price-to-earnings-growth ratio of 6.84 and a beta of 1.50.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Friday, August 1st. The asset manager reported $2.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.09. T. Rowe Price Group had a return on equity of 19.77% and a net margin of 28.72%.The firm had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same period in the previous year, the firm posted $2.26 earnings per share. The business’s revenue was down .6% compared to the same quarter last year. As a group, research analysts predict that T. Rowe Price Group will post 9.29 EPS for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 15th were given a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a dividend yield of 5.0%. The ex-dividend date was Monday, September 15th. T. Rowe Price Group’s payout ratio is 56.76%.

Insider Activity

In other T. Rowe Price Group news, Director Robert F. Maclellan sold 3,090 shares of the business’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $105.01, for a total transaction of $324,480.90. Following the completion of the transaction, the director owned 47,335 shares in the company, valued at $4,970,648.35. The trade was a 6.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. TD Waterhouse Canada Inc. boosted its holdings in shares of T. Rowe Price Group by 66.7% in the second quarter. TD Waterhouse Canada Inc. now owns 250 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 100 shares during the period. Zions Bancorporation National Association UT purchased a new stake in shares of T. Rowe Price Group in the first quarter valued at approximately $27,000. Vermillion & White Wealth Management Group LLC boosted its holdings in shares of T. Rowe Price Group by 120.0% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 319 shares of the asset manager’s stock valued at $31,000 after purchasing an additional 174 shares during the period. Hexagon Capital Partners LLC boosted its holdings in shares of T. Rowe Price Group by 44.8% in the first quarter. Hexagon Capital Partners LLC now owns 365 shares of the asset manager’s stock valued at $34,000 after purchasing an additional 113 shares during the period. Finally, Atlantic Union Bankshares Corp purchased a new stake in shares of T. Rowe Price Group in the second quarter valued at approximately $35,000. Hedge funds and other institutional investors own 73.39% of the company’s stock.

About T. Rowe Price Group

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.