The Brokerages Set T. Rowe Price Group Inc. (TROW) PT at $74.46

The Brokerages Set T. Rowe Price Group Inc. (TROW) PT at $74.46

Shares of T. Rowe Price Group Inc. (NASDAQ:TROW) have been given an average rating of “Hold” by the seventeen brokerages that are covering the company. Two analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and five have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $74.50.

TROW has been the topic of several recent analyst reports. Zacks Investment Research upgraded T. Rowe Price Group from a “sell” rating to a “hold” rating in a report on Friday, October 7th. Barclays PLC cut their price objective on T. Rowe Price Group from $78.00 to $76.00 and set an “equal weight” rating on the stock in a report on Tuesday, August 9th. Jefferies Group cut their price objective on T. Rowe Price Group from $83.00 to $80.00 and set a “buy” rating on the stock in a report on Tuesday, October 11th. Keefe, Bruyette & Woods cut their price objective on T. Rowe Price Group from $81.00 to $75.00 and set a “market perform” rating on the stock in a report on Wednesday, July 27th. Finally, Deutsche Bank AG cut 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 report on Wednesday, July 20th.

T. Rowe Price Group (NASDAQ:TROW) opened at 64.00 on Tuesday. T. Rowe Price Group has a one year low of $63.14 and a one year high of $79.00. The firm’s 50-day moving average price is $66.31 and its 200 day moving average price is $71.19. The firm has a market cap of $15.91 billion, a P/E ratio of 15.42 and a beta of 1.17.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Thursday, October 27th. The company reported $1.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.18 by $0.01. T. Rowe Price Group had a net margin of 26.71% and a return on equity of 22.51%. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter last year, the firm earned $1.06 EPS. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. On average, equities research analysts forecast that T. Rowe Price Group will post $4.31 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 29th. Shareholders of record on Thursday, December 15th will be given a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 3.38%. The ex-dividend date of this dividend is Tuesday, December 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is 52.17%.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in T. Rowe Price Group by 2.2% in the second quarter. Vanguard Group Inc. now owns 16,984,709 shares of the company’s stock worth $1,239,376,000 after buying an additional 362,416 shares during the last quarter. JPMorgan Chase & Co. raised its position in T. Rowe Price Group by 1.3% in the second quarter. JPMorgan Chase & Co. now owns 11,341,487 shares of the company’s stock worth $827,589,000 after buying an additional 141,941 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its position in T. Rowe Price Group by 1.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 6,649,826 shares of the company’s stock worth $485,238,000 after buying an additional 126,349 shares during the last quarter. Ameriprise Financial Inc. raised its position in T. Rowe Price Group by 4.2% in the second quarter. Ameriprise Financial Inc. now owns 4,608,429 shares of the company’s stock worth $336,259,000 after buying an additional 186,943 shares during the last quarter. Finally, Generation Investment Management LLP raised its position in T. Rowe Price Group by 4.3% in the second quarter. Generation Investment Management LLP now owns 3,887,714 shares of the company’s stock worth $283,686,000 after buying an additional 161,664 shares during the last quarter. 69.61% of the stock is currently owned by institutional investors and hedge funds.

Related posts

Leave a Comment