T. Rowe Price Group Inc (TROW) Given Average Recommendation of “Hold” by Brokerages

Shares of T. Rowe Price Group Inc (NASDAQ:TROW) have earned an average recommendation of “Hold” from the fifteen ratings firms that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $110.00.

Several equities analysts recently commented on TROW shares. TheStreet raised shares of T. Rowe Price Group from a “c+” rating to a “b+” rating in a research note on Monday, March 5th. ValuEngine raised shares of T. Rowe Price Group from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. BidaskClub downgraded shares of T. Rowe Price Group from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 31st. Zacks Investment Research raised shares of T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $118.00 price target for the company in a research note on Wednesday, December 27th. Finally, Bank of America raised shares of T. Rowe Price Group from a “neutral” rating to a “buy” rating and raised their price target for the company from $113.00 to $125.00 in a research note on Monday, January 8th.

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In other news, CFO Kenneth V. Moreland sold 8,066 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $104.12, for a total transaction of $839,831.92. Following the completion of the transaction, the chief financial officer now owns 100,796 shares of the company’s stock, valued at $10,494,879.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.60% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of T. Rowe Price Group by 59.3% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 200,580 shares of the asset manager’s stock worth $18,183,000 after buying an additional 74,687 shares during the period. Prudential Financial Inc. increased its position in shares of T. Rowe Price Group by 94.1% during the third quarter. Prudential Financial Inc. now owns 709,261 shares of the asset manager’s stock worth $64,295,000 after buying an additional 343,926 shares during the period. California Public Employees Retirement System increased its position in shares of T. Rowe Price Group by 4.0% during the third quarter. California Public Employees Retirement System now owns 630,687 shares of the asset manager’s stock worth $57,172,000 after buying an additional 24,012 shares during the period. Mackenzie Financial Corp acquired a new stake in shares of T. Rowe Price Group during the third quarter worth $28,685,000. Finally, Asset Management One Co. Ltd. increased its position in shares of T. Rowe Price Group by 24.0% during the third quarter. Asset Management One Co. Ltd. now owns 492,202 shares of the asset manager’s stock worth $44,553,000 after buying an additional 95,361 shares during the period. 72.84% of the stock is owned by hedge funds and other institutional investors.

Shares of TROW stock traded down $2.99 during trading hours on Friday, reaching $104.65. 2,868,309 shares of the company traded hands, compared to its average volume of 1,743,628. The company has a market cap of $26,328.47, a P/E ratio of 17.53, a price-to-earnings-growth ratio of 1.22 and a beta of 1.22. T. Rowe Price Group has a fifty-two week low of $66.70 and a fifty-two week high of $120.07.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Tuesday, January 30th. The asset manager reported $1.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.48 by $0.04. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.27 billion. T. Rowe Price Group had a net margin of 31.07% and a return on equity of 25.30%. The firm’s revenue was up 17.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.21 EPS. equities research analysts anticipate that T. Rowe Price Group will post 7.13 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 15th will be paid a dividend of $0.70 per share. The ex-dividend date is Wednesday, March 14th. This represents a $2.80 annualized dividend and a dividend yield of 2.68%. This is an increase from T. Rowe Price Group’s previous quarterly dividend of $0.57. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 46.90%.

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T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services through its subsidiaries to investors across the world. The Company provides an array of Company sponsored the United States mutual funds, other sponsored pooled investment vehicles, sub advisory services, separate account management, recordkeeping, and related services to individuals, advisors, institutions, financial intermediaries and retirement plan sponsors.

Analyst Recommendations for T. Rowe Price Group (NASDAQ:TROW)

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