Todays Report: The Barclays PLC Lowers T. Rowe Price Group Inc. (TROW) Price Target to $68.00

The Barclays PLC Lowers T. Rowe Price Group Inc. (TROW) Price Target to $68.00

T. Rowe Price Group Inc. (NASDAQ:TROW) had its target price reduced by investment analysts at Barclays PLC from $72.00 to $68.00 in a research report issued to clients and investors on Thursday. The brokerage currently has an “equal weight” rating on the stock. Barclays PLC’s price objective would indicate a potential upside of 2.78% from the stock’s previous close.

TROW has been the subject of a number of other reports. Zacks Investment Research cut shares of T. Rowe Price Group from a “hold” rating to a “sell” rating in a research report on Tuesday, September 27th. Jefferies Group reduced their price target on shares of T. Rowe Price Group from $83.00 to $80.00 and set a “buy” rating for the company in a research report on Tuesday. Keefe, Bruyette & Woods reduced their price target on shares of T. Rowe Price Group from $81.00 to $75.00 and set a “market perform” rating for the company in a research report on Wednesday, July 27th. TheStreet cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 26th. Finally, Citigroup Inc. reduced their target price on shares of T. Rowe Price Group from $78.00 to $72.00 and set a “neutral” rating for the company in a report on Wednesday, July 27th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $75.43.

T. Rowe Price Group (NASDAQ:TROW) traded down 0.82% during midday trading on Thursday, hitting $65.62. The stock had a trading volume of 714,593 shares. T. Rowe Price Group has a 12 month low of $63.57 and a 12 month high of $79.00. The stock has a 50 day moving average of $67.45 and a 200 day moving average of $71.81. The stock has a market cap of $16.31 billion, a price-to-earnings ratio of 15.81 and a beta of 1.17.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.04. T. Rowe Price Group had a net margin of 25.77% and a return on equity of 22.25%. The firm earned $1,000 million during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the previous year, the company earned $1.24 earnings per share. T. Rowe Price Group’s quarterly revenue was down 2.6% compared to the same quarter last year. Analysts expect that T. Rowe Price Group will post $4.24 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, September 29th. Shareholders of record on Thursday, September 15th were given a dividend of $0.54 per share. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $2.16 annualized dividend and a yield of 3.26%. T. Rowe Price Group’s payout ratio is currently 52.17%.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Thomaspartners Inc. raised its stake in T. Rowe Price Group by 8.9% in the first quarter. Thomaspartners Inc. now owns 1,479,858 shares of the company’s stock valued at $108,710,000 after buying an additional 120,678 shares in the last quarter. Mariner Wealth Advisors LLC raised its stake in T. Rowe Price Group by 40.9% in the first quarter. Mariner Wealth Advisors LLC now owns 4,674 shares of the company’s stock valued at $343,000 after buying an additional 1,357 shares in the last quarter. Ironwood Investment Counsel LLC raised its stake in T. Rowe Price Group by 2.4% in the first quarter. Ironwood Investment Counsel LLC now owns 8,223 shares of the company’s stock valued at $604,000 after buying an additional 189 shares in the last quarter. Geode Capital Management LLC raised its stake in T. Rowe Price Group by 2.5% in the first quarter. Geode Capital Management LLC now owns 2,340,140 shares of the company’s stock valued at $171,607,000 after buying an additional 56,299 shares in the last quarter. Finally, Fairfield Bush & CO. raised its stake in T. Rowe Price Group by 7.9% in the first quarter. Fairfield Bush & CO. now owns 3,430 shares of the company’s stock valued at $252,000 after buying an additional 250 shares in the last quarter. Institutional investors own 69.64% of the company’s stock.

T. Rowe Price Group Company Profile

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