T. Rowe Price Group (NASDAQ:TROW – Free Report) had its price objective lowered by TD Cowen from $120.00 to $116.00 in a research note released on Monday, Benzinga reports. The firm currently has a hold rating on the asset manager’s stock.
TROW has been the subject of several other reports. Barclays boosted their price target on T. Rowe Price Group from $101.00 to $110.00 and gave the company an “underweight” rating in a research note on Monday. Evercore ISI boosted their target price on shares of T. Rowe Price Group from $108.00 to $109.00 and gave the company an “in-line” rating in a research report on Friday, October 4th. Morgan Stanley raised their price target on shares of T. Rowe Price Group from $127.00 to $129.00 and gave the stock an “equal weight” rating in a research report on Monday. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $120.00 price objective (down previously from $121.00) on shares of T. Rowe Price Group in a report on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of T. Rowe Price Group from $113.00 to $115.00 and gave the stock a “hold” rating in a report on Monday. Four investment analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. Based on data from MarketBeat, T. Rowe Price Group currently has a consensus rating of “Hold” and a consensus price target of $114.73.
Get Our Latest Stock Analysis on T. Rowe Price Group
T. Rowe Price Group Price Performance
T. Rowe Price Group (NASDAQ:TROW – Get Free Report) last released its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.21. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The firm had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.84 billion. During the same period in the prior year, the firm earned $2.17 EPS. The business’s revenue was up 6.9% on a year-over-year basis. As a group, equities research analysts expect that T. Rowe Price Group will post 9.27 earnings per share for the current year.
T. Rowe Price Group Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be paid a dividend of $1.24 per share. This represents a $4.96 annualized dividend and a yield of 4.09%. The ex-dividend date is Friday, December 13th. T. Rowe Price Group’s payout ratio is presently 54.27%.
Insider Activity
In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $102.83, for a total value of $1,230,772.27. Following the sale, the vice president now directly owns 123,624 shares of the company’s stock, valued at $12,712,255.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $104.73, for a total transaction of $50,689.32. Following the sale, the insider now directly owns 13,939 shares of the company’s stock, valued at $1,459,831.47. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the transaction, the vice president now directly owns 123,624 shares of the company’s stock, valued at $12,712,255.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.
Hedge Funds Weigh In On T. Rowe Price Group
A number of hedge funds have recently made changes to their positions in TROW. Iron Horse Wealth Management LLC raised its holdings in T. Rowe Price Group by 90.9% during the 3rd quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock worth $25,000 after purchasing an additional 110 shares during the last quarter. Lynx Investment Advisory bought a new position in shares of T. Rowe Price Group in the 2nd quarter worth about $29,000. Hexagon Capital Partners LLC boosted its position in shares of T. Rowe Price Group by 54.7% during the 3rd quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 104 shares in the last quarter. Family Firm Inc. bought a new stake in T. Rowe Price Group in the second quarter worth approximately $36,000. Finally, Versant Capital Management Inc lifted its stake in T. Rowe Price Group by 660.5% in the second quarter. Versant Capital Management Inc now owns 327 shares of the asset manager’s stock valued at $38,000 after buying an additional 284 shares during the period. 73.39% of the stock is currently owned by institutional investors.
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.
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