T. Rowe Price Group Inc (NASDAQ:TROW) has received an average rating of “Hold” from the fourteen brokerages that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $117.78.
Several analysts recently commented on the company. UBS Group decreased their price target on 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. Wells Fargo & Co boosted their price target on T. Rowe Price Group from $114.00 to $124.00 and gave the company a “market perform” rating in a research note on Friday, July 13th. Zacks Investment Research raised T. Rowe Price Group from a “sell” rating to a “hold” rating in a research note on Tuesday, April 24th. Jefferies Financial Group raised T. Rowe Price Group from a “neutral” rating to a “hold” rating in a research note on Thursday, May 17th. Finally, Morgan Stanley boosted their price target on T. Rowe Price Group from $114.00 to $116.00 and gave the company an “equal weight” rating in a research note on Thursday, July 12th.
TROW stock traded up $0.55 during trading on Tuesday, hitting $116.25. The company had a trading volume of 54,769 shares, compared to its average volume of 1,085,211. The firm has a market cap of $28.12 billion, a price-to-earnings ratio of 21.41, a P/E/G ratio of 1.45 and a beta of 1.24. T. Rowe Price Group has a fifty-two week low of $81.61 and a fifty-two week high of $127.43.
T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Wednesday, July 25th. The asset manager reported $1.87 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.76 by $0.11. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.33 billion. T. Rowe Price Group had a return on equity of 28.49% and a net margin of 31.67%. T. Rowe Price Group’s quarterly revenue was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.28 EPS. research analysts anticipate that T. Rowe Price Group will post 7.23 EPS for the current year.
T. Rowe Price Group declared that its Board of Directors has initiated a stock buyback plan on Thursday, April 26th that allows the company to repurchase 10,000,000 shares. This repurchase authorization allows the asset manager to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
In other T. Rowe Price Group news, Director Robert F. Maclellan sold 5,000 shares of T. Rowe Price Group stock in a transaction on Wednesday, May 30th. The stock was 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 owns 13,769 shares in the company, valued at approximately $1,687,804.02. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO William J. Stromberg sold 21,000 shares of T. Rowe Price Group stock in a transaction on Tuesday, June 12th. The shares were sold at an average price of $125.48, for a total value of $2,635,080.00. Following the completion of the transaction, the chief executive officer now owns 539,020 shares of the company’s stock, valued at approximately $67,636,229.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 148,139 shares of company stock valued at $18,369,428. Corporate insiders own 3.10% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of TROW. Signaturefd LLC bought a new stake in shares of T. Rowe Price Group during the first quarter worth $111,000. Focused Wealth Management Inc bought a new stake in shares of T. Rowe Price Group during the second quarter worth $139,000. Perigon Wealth Management LLC raised its position in shares of 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 acquiring an additional 469 shares during the last quarter. Signature Estate & Investment Advisors LLC bought a new stake in shares of T. Rowe Price Group during the second quarter worth $151,000. Finally, Parallel Advisors LLC raised its position in shares of T. Rowe Price Group by 169.1% during the second quarter. Parallel Advisors LLC now owns 1,448 shares of the asset manager’s stock worth $168,000 after acquiring an additional 910 shares during the last quarter. Hedge funds and other institutional investors own 71.38% 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.
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