T. Rowe Price Group’s Neutral Rating Reaffirmed at Citigroup Inc. (TROW)
T. Rowe Price Group (NASDAQ:TROW)‘s stock had its “neutral” rating restated by analysts at Citigroup Inc. in a research report issued to clients and investors on Friday. They currently have a $88.00 price target on the stock, down from their previous price target of $90.00. Citigroup Inc.’s price objective would indicate a potential upside of 9.60% from the stock’s previous close.
T. Rowe Price Group (NASDAQ:TROW) traded down 0.05% on Friday, hitting $80.29. The stock had a trading volume of 1,986,470 shares. T. Rowe Price Group has a 52-week low of $69.90 and a 52-week high of $85.74. The stock has a 50-day moving average of $82.90 and a 200-day moving average of $81.44. The company has a market cap of $21.095 billion and a price-to-earnings ratio of 19.55.
T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Thursday, July 24th. The company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.01. The company had revenue of $984.30 million for the quarter, compared to the consensus estimate of $991.60 million. During the same quarter in the previous year, the company posted $0.92 earnings per share. The company’s revenue for the quarter was up 15.2% on a year-over-year basis. Analysts expect that T. Rowe Price Group will post $4.60 EPS 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 2.19%. The ex-dividend date of this dividend is Thursday, September 11th.
Several other analysts have also recently commented on the stock. Analysts at BMO Capital Markets raised their price target on shares of T. Rowe Price Group from $88.00 to $90.00 in a research note on Tuesday, July 15th. Separately, analysts at Keefe, Bruyette & Woods raised their price target on shares of T. Rowe Price Group from $93.00 to $94.00 in a research note on Monday, July 14th. Finally, analysts at Susquehanna raised their price target on shares of T. Rowe Price Group from $85.00 to $86.00 in a research note on Thursday, July 10th. They now have a “neutral” rating on the stock. Eight research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $90.54.
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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