T. Rowe Price Group (NASDAQ:TROW) had its price objective boosted by Morgan Stanley from $113.00 to $117.00 in a research note released on Tuesday morning, BenzingaRatingsTable reports. The firm currently has an equal weight rating on the asset manager’s stock.
Other analysts have also issued reports about the stock. UBS Group upped their price target on shares of T. Rowe Price Group from $109.00 to $111.00 and gave the company a neutral rating in a research report on Monday. Zacks Investment Research upgraded shares of IMI PLC/S from a sell rating to a hold rating in a research report on Wednesday, April 3rd. BidaskClub lowered shares of Amyris from a hold rating to a sell rating in a research report on Thursday, June 27th. Deutsche Bank upped their price target on shares of T. Rowe Price Group from $91.00 to $94.00 and gave the company a hold rating in a research report on Friday, March 15th. Finally, Jefferies Financial Group upped their price target on shares of T. Rowe Price Group from $103.00 to $119.00 and gave the company a buy rating in a research report on Monday, April 1st. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $107.83.
NASDAQ TROW opened at $109.32 on Tuesday. The company’s 50-day simple moving average is $106.25. The company has a current ratio of 3.74, a quick ratio of 3.74 and a debt-to-equity ratio of 0.03. T. Rowe Price Group has a 12-month low of $84.59 and a 12-month high of $125.35. The stock has a market capitalization of $25.88 billion, a price-to-earnings ratio of 15.29, a price-to-earnings-growth ratio of 1.59 and a beta of 1.07.
T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Wednesday, April 24th. The asset manager reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.61 by $0.26. T. Rowe Price Group had a net margin of 35.05% and a return on equity of 28.93%. The business had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same period in the prior year, the business posted $1.74 earnings per share. The company’s revenue was down 2.1% on a year-over-year basis. Equities analysts expect that T. Rowe Price Group will post 7.65 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a dividend of $0.76 per share. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 2.78%. T. Rowe Price Group’s dividend payout ratio is currently 42.52%.
In other news, VP Scott B. David sold 45,118 shares of the stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $107.88, for a total transaction of $4,867,329.84. Following the completion of the sale, the vice president now directly owns 48,454 shares in the company, valued at $5,227,217.52. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Mary K. Bush sold 3,500 shares of the stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $107.06, for a total transaction of $374,710.00. Following the sale, the director now owns 19,243 shares of the company’s stock, valued at $2,060,155.58. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 68,618 shares of company stock valued at $7,400,440. 3.10% of the stock is currently owned by company insiders.
Several institutional investors have recently bought and sold shares of TROW. Adirondack Trust Co. boosted its holdings in shares of T. Rowe Price Group by 606.1% during the first quarter. Adirondack Trust Co. now owns 233 shares of the asset manager’s stock worth $25,000 after purchasing an additional 200 shares during the period. Advisory Alpha LLC purchased a new stake in shares of T. Rowe Price Group during the first quarter worth about $27,000. LFA Lugano Financial Advisors SA purchased a new stake in shares of T. Rowe Price Group during the first quarter worth about $29,000. Trustcore Financial Services LLC boosted its holdings in shares of T. Rowe Price Group by 353.8% during the first quarter. Trustcore Financial Services LLC now owns 295 shares of the asset manager’s stock worth $30,000 after purchasing an additional 230 shares during the period. Finally, Spectrum Management Group Inc. raised its stake in T. Rowe Price Group by 105.3% in the first quarter. Spectrum Management Group Inc. now owns 308 shares of the asset manager’s stock worth $31,000 after buying an additional 158 shares in the last quarter. Institutional investors own 69.32% 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.
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