StockNews.com Upgrades T. Rowe Price Group (NASDAQ:TROW) to Buy

StockNews.com upgraded shares of T. Rowe Price Group (NASDAQ:TROW) from a hold rating to a buy rating in a report published on Friday morning.

Several other analysts also recently weighed in on TROW. JPMorgan Chase & Co. decreased their target price on T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating for the company in a research note on Monday, November 4th. The Goldman Sachs Group lowered their price objective on shares of T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating on the stock in a research note on Thursday, October 3rd. Barclays upped their target price on shares of T. Rowe Price Group from $110.00 to $115.00 and gave the company an “underweight” rating in a research note on Monday, December 9th. Evercore ISI raised their price target on shares of T. Rowe Price Group from $112.00 to $113.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. Finally, Wells Fargo & Company upped their price objective on shares of T. Rowe Price Group from $112.00 to $124.00 and gave the company an “equal weight” rating in a research report on Thursday, December 12th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $117.00.

T. Rowe Price Group Trading Up 2.8 %

Shares of T. Rowe Price Group stock opened at $116.12 on Friday. T. Rowe Price Group has a 1-year low of $100.49 and a 1-year high of $125.81. The firm has a fifty day simple moving average of $117.50 and a 200-day simple moving average of $113.22. The stock has a market capitalization of $25.80 billion, a price-to-earnings ratio of 12.70, a PEG ratio of 1.73 and a beta of 1.42.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.21. The firm had revenue of $1.79 billion during the quarter, compared to analyst estimates of $1.84 billion. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The business’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.17 EPS. As a group, research analysts predict that T. Rowe Price Group will post 9.39 earnings per share for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be paid a $1.24 dividend. The ex-dividend date is Friday, December 13th. This represents a $4.96 dividend on an annualized basis and a yield of 4.27%. T. Rowe Price Group’s payout ratio is currently 54.27%.

Insider Buying and Selling

In related news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of the business’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total value of $499,197.45. Following the sale, the vice president now owns 119,577 shares of the company’s stock, valued at $14,749,822.95. The trade was a 3.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On T. Rowe Price Group

Several institutional investors and hedge funds have recently made changes to their positions in TROW. International Assets Investment Management LLC lifted its holdings in T. Rowe Price Group by 7,992.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,067,655 shares of the asset manager’s stock valued at $116,300,000 after purchasing an additional 1,054,461 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of T. Rowe Price Group by 382.1% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 398,175 shares of the asset manager’s stock worth $43,373,000 after buying an additional 315,581 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of T. Rowe Price Group by 3.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,840,807 shares of the asset manager’s stock valued at $745,169,000 after acquiring an additional 231,286 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of T. Rowe Price Group by 15.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,611,307 shares of the asset manager’s stock valued at $185,810,000 after acquiring an additional 220,105 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in shares of T. Rowe Price Group by 77.2% in the 2nd quarter. AQR Capital Management LLC now owns 451,237 shares of the asset manager’s stock worth $52,032,000 after acquiring an additional 196,565 shares in the last quarter. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group Company Profile

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.