Jefferies Group Lowers T. Rowe Price Group Inc. (TROW) Price Target to $80.00
T. Rowe Price Group Inc. (NASDAQ:TROW) had its target price lowered by stock analysts at Jefferies Group from $83.00 to $80.00 in a research note issued to investors on Tuesday. The brokerage presently has a “buy” rating on the stock. Jefferies Group’s price objective points to a potential upside of 19.78% from the stock’s current price.
Other analysts have also recently issued reports about the company. Deutsche Bank AG restated a “buy” rating on shares of T. Rowe Price Group in a report on Sunday, July 10th. Barclays PLC lowered their price target on T. Rowe Price Group from $76.00 to $72.00 and set an “equal weight” rating for the company in a report on Wednesday, August 24th. Morgan Stanley lowered their price target on T. Rowe Price Group from $74.00 to $71.00 and set an “equal weight” rating for the company in a report on Thursday, July 28th. Zacks Investment Research upgraded T. Rowe Price Group from a “sell” rating to a “hold” rating in a report on Friday. Finally, TheStreet cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a report on Tuesday, July 26th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $75.71.
T. Rowe Price Group (NASDAQ:TROW) traded down 1.65% during trading on Tuesday, reaching $65.69. The company’s stock had a trading volume of 1,076,164 shares. The stock has a 50 day moving average price of $67.64 and a 200 day moving average price of $71.89. T. Rowe Price Group has a 1-year low of $63.57 and a 1-year high of $79.00. The stock has a market capitalization of $16.33 billion, a PE ratio of 15.83 and a beta of 1.17.
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T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Tuesday, July 26th. The company reported $0.76 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.04. The company earned $1,000 million during the quarter, compared to analysts’ expectations of $1.03 billion. T. Rowe Price Group had a return on equity of 22.25% and a net margin of 25.77%. The firm’s quarterly revenue was down 2.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.24 EPS. Analysts anticipate that T. Rowe Price Group will post $4.24 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 29th. Shareholders of record on Thursday, September 15th were given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date was Tuesday, September 13th. T. Rowe Price Group’s dividend payout ratio is currently 52.17%.
A number of large investors have recently bought and sold shares of TROW. Los Angeles Capital Management & Equity Research Inc. acquired a new position in T. Rowe Price Group during the first quarter worth approximately $202,000. NN Investment Partners Holdings N.V. acquired a new position in T. Rowe Price Group during the first quarter worth approximately $1,563,000. ING Groep NV increased its position in T. Rowe Price Group by 83.5% in the first quarter. ING Groep NV now owns 5,695 shares of the company’s stock worth $418,000 after buying an additional 2,591 shares during the last quarter. Willis Investment Counsel increased its position in T. Rowe Price Group by 0.8% in the first quarter. Willis Investment Counsel now owns 126,300 shares of the company’s stock worth $9,278,000 after buying an additional 1,000 shares during the last quarter. Finally, BB&T Securities LLC increased its position in T. Rowe Price Group by 5.9% in the first quarter. BB&T Securities LLC now owns 21,190 shares of the company’s stock worth $1,556,000 after buying an additional 1,174 shares during the last quarter. 69.64% of the stock is currently owned by 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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