T. Rowe Price Group, Inc. (TROW) Earns Underweight Rating from Morgan Stanley
T. Rowe Price Group, Inc. (NASDAQ:TROW)‘s stock had its “underweight” rating reissued by equities research analysts at Morgan Stanley in a research note issued to investors on Monday. They presently have a $70.00 price objective on the asset manager’s stock, up from their prior price objective of $64.00. Morgan Stanley’s target price would indicate a potential downside of 8.09% from the stock’s current price.
Other equities analysts have also issued reports about the company. Zacks Investment Research raised T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $83.00 price target on the stock in a research note on Wednesday, June 28th. BidaskClub raised T. Rowe Price Group from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 14th. TheStreet lowered T. Rowe Price Group from a “b” rating to a “c+” rating in a research note on Tuesday, March 28th. ValuEngine lowered T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $83.00 price target (down from $84.00) on shares of T. Rowe Price Group in a research note on Monday, April 17th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $74.18.
Shares of T. Rowe Price Group (NASDAQ TROW) traded up 1.3260% during mid-day trading on Monday, hitting $77.1699. The stock had a trading volume of 696,985 shares. T. Rowe Price Group has a 1-year low of $62.97 and a 1-year high of $78.95. The firm has a market capitalization of $18.62 billion, a PE ratio of 15.1136 and a beta of 1.22. The stock’s 50-day moving average is $72.04 and its 200-day moving average is $71.72.
T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings data on Tuesday, April 25th. The asset manager reported $1.18 EPS for the quarter, missing the Zacks’ consensus estimate of $1.20 by $0.02. The company 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 24.24% and a net margin of 29.59%. T. Rowe Price Group’s revenue was up 12.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.15 earnings per share. Equities analysts expect that T. Rowe Price Group will post $5.19 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 29th. Stockholders of record on Thursday, June 15th were issued a dividend of $0.57 per share. The ex-dividend date was Tuesday, June 13th. This represents a $2.28 annualized dividend and a dividend yield of 2.99%. T. Rowe Price Group’s dividend payout ratio is 44.88%.
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Several large investors have recently added to or reduced their stakes in TROW. Quadrant Capital Group LLC increased its stake in T. Rowe Price Group by 1.4% in the first quarter. Quadrant Capital Group LLC now owns 1,660 shares of the asset manager’s stock valued at $107,000 after buying an additional 23 shares in the last quarter. Mosaic Family Wealth LLC increased its stake in T. Rowe Price Group by 4.5% in the first quarter. Mosaic Family Wealth LLC now owns 1,967 shares of the asset manager’s stock valued at $134,000 after buying an additional 85 shares in the last quarter. FNY Partners Fund LP purchased a new stake in T. Rowe Price Group during the first quarter valued at approximately $147,000. Duncker Streett & Co. Inc. increased its stake in T. Rowe Price Group by 57.9% in the first quarter. Duncker Streett & Co. Inc. now owns 2,472 shares of the asset manager’s stock valued at $168,000 after buying an additional 906 shares in the last quarter. Finally, Mycio Wealth Partners LLC purchased a new stake in T. Rowe Price Group during the first quarter valued at approximately $207,000. Hedge funds and other institutional investors own 71.24% of the company’s stock.
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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