Today: The T. Rowe Price Group Inc. (TROW) PT Lowered to $80.00

The T. Rowe Price Group Inc. (TROW) PT Lowered to $80.00

T. Rowe Price Group Inc. (NASDAQ:TROW) had its price objective cut by equities researchers at Jefferies Group from $83.00 to $80.00 in a research note issued to investors on Tuesday. The firm presently has a “buy” rating on the stock. Jefferies Group’s price target indicates a potential upside of 20.92% from the stock’s current price.

TROW has been the topic of a number of other reports. Deutsche Bank AG cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating and cut their price objective for the company from $79.00 to $75.00 in a research note on Wednesday, July 20th. TheStreet cut shares of T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 26th. Barclays PLC cut their price objective on shares of T. Rowe Price Group from $78.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 9th. Zacks Investment Research cut shares of T. Rowe Price Group from a “hold” rating to a “sell” rating in a research note on Tuesday, September 27th. Finally, Keefe, Bruyette & Woods cut their price objective on shares of T. Rowe Price Group from $81.00 to $75.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 27th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company’s stock. T. Rowe Price Group has an average rating of “Hold” and a consensus target price of $75.71.

Shares of T. Rowe Price Group (NASDAQ:TROW) opened at 66.16 on Tuesday. The firm’s 50 day moving average is $67.45 and its 200 day moving average is $71.81. T. Rowe Price Group has a 1-year low of $63.57 and a 1-year high of $79.00. The firm has a market capitalization of $16.44 billion, a PE ratio of 15.94 and a beta of 1.17.

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

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 29th. Shareholders of record on Thursday, September 15th were paid 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 dividend payout ratio (DPR) is presently 52.17%.

A number of institutional investors have recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC boosted its position in T. Rowe Price Group by 2.5% in the second quarter. Quadrant Capital Group LLC now owns 1,711 shares of the company’s stock valued at $119,000 after buying an additional 42 shares during the period. Euclid Advisors LLC acquired a new position in T. Rowe Price Group during the second quarter valued at $123,000. Societe Generale acquired a new position in T. Rowe Price Group during the second quarter valued at $126,000. WFG Advisors LP boosted its position in T. Rowe Price Group by 22.2% in the second quarter. WFG Advisors LP now owns 1,870 shares of the company’s stock valued at $136,000 after buying an additional 340 shares during the period. Finally, Checchi Capital Advisers LLC boosted its position in T. Rowe Price Group by 0.9% in the second quarter. Checchi Capital Advisers LLC now owns 1,958 shares of the company’s stock valued at $143,000 after buying an additional 18 shares during the period. 69.64% of the stock is currently owned by institutional investors.

T. Rowe Price Group Company Profile

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