Brokerages Set T. Rowe Price Group Inc (TROW) PT at $114.00

Share on StockTwits

T. Rowe Price Group Inc (NASDAQ:TROW) has received a consensus recommendation of “Hold” from the fourteen brokerages that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $114.00.

Several equities research analysts have commented on the stock. UBS Group dropped their price target on shares of T. Rowe Price Group from $125.00 to $117.00 and set a “neutral” rating on the stock in a research note on Thursday, May 24th. Jefferies Group upgraded shares of T. Rowe Price Group from a “neutral” rating to a “hold” rating in a research note on Thursday, May 17th. Credit Suisse Group upgraded shares of T. Rowe Price Group from a “neutral” rating to an “outperform” rating and set a $123.00 price target on the stock in a research note on Wednesday, May 16th. Deutsche Bank upgraded shares of T. Rowe Price Group from a “hold” rating to a “buy” rating and dropped their price target for the company from $121.00 to $114.00 in a research note on Wednesday, May 16th. Finally, Zacks Investment Research upgraded shares of T. Rowe Price Group from a “sell” rating to a “hold” rating in a research note on Tuesday, April 24th.

Shares of NASDAQ:TROW opened at $125.98 on Thursday. T. Rowe Price Group has a 52 week low of $72.00 and a 52 week high of $127.43. The company has a market capitalization of $30.32 billion, a price-to-earnings ratio of 23.20, a PEG ratio of 1.64 and a beta of 1.22.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Wednesday, April 25th. The asset manager reported $1.74 EPS for the quarter, beating the consensus estimate of $1.65 by $0.09. T. Rowe Price Group had a net margin of 31.10% and a return on equity of 26.93%. The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same quarter last year, the business earned $1.18 earnings per share. T. Rowe Price Group’s revenue was up 17.3% compared to the same quarter last year. equities research analysts forecast that T. Rowe Price Group will post 7.01 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Friday, June 15th will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.22%. The ex-dividend date is Thursday, June 14th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 51.57%.

T. Rowe Price Group declared that its board has initiated a stock repurchase plan on Thursday, April 26th that authorizes the company to repurchase 10,000,000 shares. This repurchase authorization authorizes the asset manager to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

In other news, Director Robert F. Maclellan sold 5,000 shares of the stock in a transaction that occurred on Wednesday, May 30th. The shares were sold at an average price of $122.58, for a total value of $612,900.00. Following the completion of the transaction, the director now directly owns 13,769 shares in the company, valued at $1,687,804.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.10% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. KCM Investment Advisors LLC boosted its holdings in T. Rowe Price Group by 15.7% during the first quarter. KCM Investment Advisors LLC now owns 3,403 shares of the asset manager’s stock worth $367,000 after buying an additional 461 shares in the last quarter. Perigon Wealth Management LLC boosted its holdings in T. Rowe Price Group by 57.5% during the first quarter. Perigon Wealth Management LLC now owns 1,284 shares of the asset manager’s stock worth $139,000 after buying an additional 469 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in T. Rowe Price Group by 50.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,472 shares of the asset manager’s stock worth $155,000 after buying an additional 491 shares in the last quarter. BB&T Securities LLC boosted its holdings in T. Rowe Price Group by 2.7% during the fourth quarter. BB&T Securities LLC now owns 18,973 shares of the asset manager’s stock worth $1,990,000 after buying an additional 492 shares in the last quarter. Finally, Bronfman E.L. Rothschild L.P. boosted its holdings in T. Rowe Price Group by 30.9% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 2,101 shares of the asset manager’s stock worth $220,000 after buying an additional 496 shares in the last quarter. Institutional investors and hedge funds own 72.10% 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.

Analyst Recommendations for T. Rowe Price Group (NASDAQ:TROW)

Receive News & Ratings for T. Rowe Price Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for T. Rowe Price Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply