T. Rowe Price Group Inc (TROW) Rating Lowered to Hold at ValuEngine
T. Rowe Price Group Inc (NASDAQ:TROW) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.
Several other analysts have also commented on TROW. Credit Suisse Group AG set a $62.00 price target on shares of T. Rowe Price Group and gave the company a “hold” rating in a research report on Saturday, February 4th. Morgan Stanley lowered shares of T. Rowe Price Group to a “sell” rating in a research report on Saturday, March 18th. TheStreet lowered shares of T. Rowe Price Group from a “b” rating to a “c+” rating in a research report on Tuesday, March 28th. Jefferies Group LLC restated a “buy” rating and set a $83.00 price target (down previously from $84.00) on shares of T. Rowe Price Group in a research report on Monday, April 17th. Finally, Deutsche Bank AG restated a “hold” rating and set a $71.00 price target (down previously from $74.00) on shares of T. Rowe Price Group in a research report on Monday, May 1st. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $73.18.
T. Rowe Price Group (TROW) traded down 0.38% on Friday, hitting $71.53. 1,518,112 shares of the company were exchanged. The firm’s 50 day moving average is $71.01 and its 200 day moving average is $71.90. T. Rowe Price Group has a 52 week low of $62.97 and a 52 week high of $78.95. The company has a market capitalization of $17.26 billion, a P/E ratio of 14.01 and a beta of 1.29.
T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings data on Tuesday, April 25th. The asset manager reported $1.18 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.20 by $0.02. The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.10 billion. T. Rowe Price Group had a return on equity of 24.49% and a net margin of 28.28%. The firm’s revenue was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.15 EPS. On average, equities research analysts forecast that T. Rowe Price Group will post $5.17 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 29th. Stockholders of record on Thursday, June 15th will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 3.19%. The ex-dividend date is Tuesday, June 13th. T. Rowe Price Group’s dividend payout ratio is currently 46.06%.
Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its stake in T. Rowe Price Group by 1,722.6% in the first quarter. BlackRock Inc. now owns 16,378,787 shares of the asset manager’s stock valued at $1,116,214,000 after buying an additional 15,480,155 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in T. Rowe Price Group during the first quarter valued at about $118,342,000. State Street Corp boosted its stake in T. Rowe Price Group by 12.4% in the fourth quarter. State Street Corp now owns 14,733,079 shares of the asset manager’s stock valued at $1,108,811,000 after buying an additional 1,630,497 shares during the last quarter. Norges Bank purchased a new stake in T. Rowe Price Group during the fourth quarter valued at about $95,874,000. Finally, Scout Investments Inc. boosted its stake in T. Rowe Price Group by 448.8% in the first quarter. Scout Investments Inc. now owns 1,212,919 shares of the asset manager’s stock valued at $89,101,000 after buying an additional 991,890 shares during the last quarter. 71.35% of the stock is currently owned by hedge funds and other institutional investors.
About T. Rowe Price Group
T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services through its subsidiaries to investors across the world. The Company provides an array of Company sponsored the United States mutual funds, other sponsored pooled investment vehicles, sub advisory services, separate account management, recordkeeping, and related services to individuals, advisors, institutions, financial intermediaries and retirement plan sponsors.
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