T. Rowe Price Group Sees Unusually-High Trading Volume After Analyst Upgrade (TROW)
T. Rowe Price Group (NASDAQ:TROW) saw unusually-high trading volume on Thursday after Susquehanna raised their price target on the stock from $85.00 to $86.00, StockRatingsNetwork.com reports. Susquehanna currently has a neutral rating on the stock. Approximately 1,312,294 shares changed hands during mid-day trading, an increase of 24% from the previous session’s volume of 1,054,474 shares.The stock last traded at $81.34 and had previously closed at $84.01.
TROW has been the subject of a number of other recent research reports. Analysts at Evercore Partners downgraded shares of T. Rowe Price Group from an “overweight” rating to an “equal weight” rating in a research note on Thursday. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of T. Rowe Price Group from $97.50 to $98.00 in a research note on Tuesday, July 1st. They now have an “overweight” rating on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of T. Rowe Price Group in a research note on Wednesday, June 11th. They now have a $88.00 price target on the stock. Ten analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $89.32.
The stock’s 50-day moving average is $83.02 and its 200-day moving average is $81.57. The company has a market cap of $21.436 billion and a P/E ratio of 20.44.
T. Rowe Price Group (NASDAQ:TROW) last announced its earnings results on Thursday, April 24th. The company reported $1.05 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.03 by $0.02. The company had revenue of $954.60 million for the quarter, compared to the consensus estimate of $948.36 million. During the same quarter in the prior year, the company posted $0.91 earnings per share. The company’s quarterly revenue was up 17.0% on a year-over-year basis. On average, analysts predict that T. Rowe Price Group will post $4.58 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, September 29th. Stockholders of record on Monday, September 15th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend is Thursday, September 11th.
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.