T. Rowe Price Group Inc. (NASDAQ:TROW) Receives Consensus Rating of “Hold” from Brokerages
Shares of T. Rowe Price Group Inc. (NASDAQ:TROW) have been assigned a consensus recommendation of “Hold” from the eighteen brokerages that are presently covering the company. Two analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $74.57.
Several equities analysts recently issued reports on TROW shares. Bank of America Corp. restated a “hold” rating on shares of T. Rowe Price Group in a research note on Thursday, May 26th. Deutsche Bank AG reduced their price objective on T. Rowe Price Group from $86.00 to $82.00 and set a “buy” rating on the stock in a research note on Thursday, June 16th. Citigroup Inc. reduced their price objective on T. Rowe Price Group from $78.00 to $72.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 27th. JPMorgan Chase & Co. reduced their price objective on T. Rowe Price Group from $75.00 to $65.00 and set an “underweight” rating on the stock in a research note on Wednesday, July 27th. Finally, Keefe, Bruyette & Woods reduced their price objective on T. Rowe Price Group from $81.00 to $75.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 27th.
T. Rowe Price Group (NASDAQ:TROW) traded up 0.03% during trading on Wednesday, hitting $66.65. 417,769 shares of the stock were exchanged. The company has a market cap of $16.57 billion, a price-to-earnings ratio of 16.06 and a beta of 1.18. T. Rowe Price Group has a one year low of $63.57 and a one year high of $79.00. The stock’s 50 day moving average is $68.68 and its 200-day moving average is $72.49.
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T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $0.76 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.04. T. Rowe Price Group had a return on equity of 22.25% and a net margin of 25.77%. The firm had revenue of $1,000 million for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period last year, the business posted $1.24 earnings per share. The firm’s revenue for the quarter was down 2.6% on a year-over-year basis. On average, equities research analysts expect that T. Rowe Price Group will post $4.22 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Thursday, September 15th will be issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date is Tuesday, September 13th. T. Rowe Price Group’s payout ratio is currently 52.17%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of T. Rowe Price Group during the fourth quarter worth $78,770,000. Bank of Montreal Can bought a new position in shares of T. Rowe Price Group during the second quarter worth $68,389,000. Capital World Investors boosted its position in shares of T. Rowe Price Group by 159.5% in the second quarter. Capital World Investors now owns 960,000 shares of the company’s stock worth $70,051,000 after buying an additional 590,000 shares in the last quarter. NN Investment Partners Holdings N.V. boosted its position in shares of T. Rowe Price Group by 2,238.1% in the second quarter. NN Investment Partners Holdings N.V. now owns 497,216 shares of the company’s stock worth $36,284,000 after buying an additional 475,950 shares in the last quarter. Finally, Junto Capital Management LP bought a new position in shares of T. Rowe Price Group during the first quarter worth $27,768,000. 70.22% of the stock is currently owned by hedge funds and other institutional investors.
T. Rowe Price Group Company Profile
T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services to individual and institutional investors in the sponsored T. Rowe Price mutual funds distributed in the United States and other investment portfolios. It operates through investment advisory business segment.
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