T. Rowe Price Group (NASDAQ:TROW) Upgraded by Zacks Research to “Strong-Buy” Rating

Zacks Research upgraded shares of T. Rowe Price Group (NASDAQ:TROW) from a hold rating to a strong-buy rating in a research report released on Wednesday morning,Zacks.com reports.

A number of other research firms also recently commented on TROW. Morgan Stanley upped their price objective on shares of T. Rowe Price Group from $105.00 to $109.00 and gave the company an “equal weight” rating in a research note on Friday, June 26th. Jefferies Financial Group lowered their target price on shares of T. Rowe Price Group from $107.00 to $91.00 and set a “hold” rating for the company in a report on Wednesday, April 8th. BMO Capital Markets upped their price target on shares of T. Rowe Price Group from $98.00 to $110.00 and gave the stock a “market perform” rating in a research report on Monday, May 4th. Evercore set a $121.00 price target on shares of T. Rowe Price Group in a research note on Friday, July 10th. Finally, Barclays lifted their price target on shares of T. Rowe Price Group from $89.00 to $108.00 and gave the company an “underweight” rating in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, T. Rowe Price Group presently has an average rating of “Reduce” and a consensus target price of $103.42.

T. Rowe Price Group Trading Up 0.2%

T. Rowe Price Group stock opened at $118.87 on Wednesday. The firm has a market capitalization of $25.47 billion, a P/E ratio of 12.74, a PEG ratio of 4.27 and a beta of 1.47. The stock has a fifty day moving average price of $108.61 and a 200 day moving average price of $101.21. T. Rowe Price Group has a 52 week low of $85.22 and a 52 week high of $121.17.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Thursday, April 30th. The asset manager reported $2.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.37 by $0.15. T. Rowe Price Group had a return on equity of 20.60% and a net margin of 28.28%.The firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same period last year, the company earned $2.23 EPS. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. As a group, equities analysts predict that T. Rowe Price Group will post 10.07 EPS for the current year.

T. Rowe Price Group Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Monday, June 15th were issued a dividend of $1.30 per share. The ex-dividend date was Monday, June 15th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.4%. T. Rowe Price Group’s payout ratio is presently 55.73%.

Insider Transactions at T. Rowe Price Group

In related news, VP Stephon A. Jackson sold 3,000 shares of the stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $102.56, for a total transaction of $307,680.00. Following the completion of the sale, the vice president owned 83,883 shares of the company’s stock, valued at approximately $8,603,040.48. This represents a 3.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. TD Private Client Wealth LLC increased its position in shares of T. Rowe Price Group by 91.8% in the fourth quarter. TD Private Client Wealth LLC now owns 257 shares of the asset manager’s stock worth $26,000 after acquiring an additional 123 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of T. Rowe Price Group by 540.9% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 282 shares of the asset manager’s stock valued at $29,000 after acquiring an additional 238 shares in the last quarter. Canton Hathaway LLC purchased a new stake in T. Rowe Price Group during the 4th quarter worth $31,000. Sound Income Strategies LLC boosted its position in T. Rowe Price Group by 170.3% during the 4th quarter. Sound Income Strategies LLC now owns 300 shares of the asset manager’s stock worth $32,000 after purchasing an additional 189 shares during the period. Finally, DV Equities LLC acquired a new stake in T. Rowe Price Group in the 4th quarter valued at $32,000. 73.39% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting T. Rowe Price Group

Here are the key news stories impacting T. Rowe Price Group this week:

• Positive Sentiment: T. Rowe Price was added to multiple Zacks #1 (Strong Buy) lists on July 16, including momentum, value, and income screens, which can support bullish sentiment around the stock. Article Title
• Positive Sentiment: The company introduced an actively managed spot multi-token crypto ETF, signaling product innovation and a possible new growth avenue for assets and fee revenue. Article Title
• Positive Sentiment: Additional Zacks coverage also labeled TROW a strong buy for value and income investors, reinforcing the view that the shares may be attractively priced relative to fundamentals. Article Title
• Neutral Sentiment: Analysts and commentary continue to debate valuation after the AdvanCell deal, suggesting investors are still assessing whether the stock is fully valued at current levels. Article Title
• Negative Sentiment: Barclays reiterated a sell rating on T. Rowe Price, and recent commentary highlighted Q2 net outflows, which remain a concern for long-term asset growth and fee pressure. Article Title

About T. Rowe Price Group

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland, founded by Thomas Rowe Price Jr. in 1937. The company provides a broad range of investment products and services for individual investors, financial intermediaries, retirement plan sponsors and institutional clients. Its offerings are built around active investment management and in-house research across equity, fixed income and multi-asset strategies, reflecting a long history as a research-driven asset manager.

The firm’s product lineup includes mutual funds, separate accounts, collective investment trusts, target-date and target-risk funds, and managed account solutions, as well as services for defined contribution and defined benefit retirement plans.