Credit Suisse Group Raises T. Rowe Price (TROW) Price Target to $128.00

T. Rowe Price (NASDAQ:TROW) had its price objective boosted by Credit Suisse Group from $123.00 to $128.00 in a report released on Thursday morning. The brokerage currently has a neutral rating on the asset manager’s stock.

A number of other research firms have also weighed in on TROW. BidaskClub raised T. Rowe Price from a buy rating to a strong-buy rating in a research report on Tuesday, February 27th. Citigroup lowered their target price on shares of T. Rowe Price from $120.00 to $115.00 and set a neutral rating for the company in a research note on Thursday, February 22nd. ValuEngine upgraded shares of T. Rowe Price from a hold rating to a buy rating in a research note on Friday, February 2nd. Morgan Stanley lowered their target price on shares of T. Rowe Price from $115.00 to $112.00 and set a hold rating for the company in a research note on Tuesday, February 13th. Finally, Zacks Investment Research downgraded shares of T. Rowe Price from a buy rating to a hold rating in a research note on Wednesday, December 6th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $110.80.

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T. Rowe Price stock opened at $104.38 on Thursday. T. Rowe Price has a twelve month low of $67.62 and a twelve month high of $120.07. The firm has a market cap of $25,531.14, a PE ratio of 19.22, a P/E/G ratio of 1.18 and a beta of 1.21.

T. Rowe Price (NASDAQ:TROW) last posted its quarterly earnings data on Tuesday, January 30th. The asset manager reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.48 by $0.04. T. Rowe Price had a return on equity of 25.30% and a net margin of 31.07%. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.27 billion. During the same quarter in the prior year, the company earned $1.21 earnings per share. The company’s revenue was up 17.9% on a year-over-year basis. research analysts forecast that T. Rowe Price will post 7.12 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th were paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.68%. The ex-dividend date of this dividend was Wednesday, March 14th. This is an increase from T. Rowe Price’s previous quarterly dividend of $0.57. T. Rowe Price’s dividend payout ratio is currently 51.57%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC boosted its stake in T. Rowe Price by 50.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,472 shares of the asset manager’s stock valued at $155,000 after acquiring an additional 491 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new position in T. Rowe Price in the third quarter valued at $202,000. Stock Yards Bank & Trust Co. acquired a new position in T. Rowe Price in the fourth quarter valued at $205,000. Shelton Capital Management acquired a new position in T. Rowe Price in the fourth quarter valued at $206,000. Finally, Checchi Capital Advisers LLC acquired a new position in T. Rowe Price in the fourth quarter valued at $207,000. Institutional investors own 72.84% of the company’s stock.

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T. Rowe Price Company Profile

T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.

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

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