T. Rowe Price Group PT Lowered to $81.50 (TROW)
JPMorgan Chase & Co. cut their price target on shares of T. Rowe Price Group (NASDAQ:TROW) from $84.50 to $81.50 in a research note issued on Friday, Stock Ratings Network reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.’s price target indicates a potential upside of 7.59% from the company’s current price.
Shares of T. Rowe Price Group (NASDAQ:TROW) traded up 0.38% during mid-day trading on Friday, hitting $75.75. The stock had a trading volume of 1,762,447 shares. T. Rowe Price Group has a 52-week low of $62.34 and a 52-week high of $80.26. The stock has a 50-day moving average of $72.95 and a 200-day moving average of $74.3. The company has a market cap of $19.705 billion and a P/E ratio of 20.67.
T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Thursday, October 24th. The company reported $1.00 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.97 by $0.03. The company had revenue of $884.40 million for the quarter, compared to the consensus estimate of $870.26 million. During the same quarter in the previous year, the company posted $0.94 earnings per share. The company’s revenue for the quarter was up 14.9% on a year-over-year basis.
The company also recently announced a quarterly dividend, which is scheduled for Friday, December 27th. Stockholders of record on Monday, December 16th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.01%. The ex-dividend date is Thursday, December 12th.
A number of other analysts have also recently weighed in on TROW. Analysts at Zacks reiterated an “outperform” rating on shares of T. Rowe Price Group in a research note to investors on Friday. They now have a $84.00 price target on the stock. Separately, analysts at BMO Capital Markets raised their price target on shares of T. Rowe Price Group from $80.00 to $81.00 in a research note to investors on Tuesday, October 15th. They now have a “buy” rating on the stock. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $79.94.
T. Rowe Price Group, Inc is a financial services holding company, which provides global investment management services through its subsidiaries to individual and institutional investors in the sponsored T.
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