T. Rowe Price Group (NASDAQ: TROW) has recently received a number of price target changes and ratings updates:

  • 9/28/2017 – T. Rowe Price Group was upgraded by analysts at Goldman Sachs Group, Inc. (The) from a “neutral” rating to a “buy” rating. They now have a $100.00 price target on the stock, up previously from $85.00.
  • 9/26/2017 – T. Rowe Price Group was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $98.00 price target on the stock. According to Zacks, “T. Rowe Price’s shares outperformed the industry over the last six months. However, the company's earnings surprise history is not that impressive. The company has surpassed the Zacks Consensus Estimate for earnings in only one of the trailing four quarters. Given the strategic initiatives, management estimates operating expenses to grow 10% for 2017. Also, the regulatory pressure across the investment management industry remains another key concern. However, the company’s planned strategic initiatives like investment in technology and advisory services, strengthening distribution platform, along with introduction of products, will likely stoke long-term growth. Further, the company remains debt-free with sufficient liquidity and is focused on boosting shareholders’ confidence through steady capital deployment activities. Recently, the company recorded improved AUM for July and August 2017.”
  • 9/13/2017 – T. Rowe Price Group was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “T. Rowe Price’s shares outperformed the industry over the last six months. However, the company's earnings surprise history is not that impressive. The company has surpassed the Zacks Consensus Estimate for earnings in only one of the trailing four quarters. Given the strategic initiatives, management estimates operating expenses to grow 10% for 2017. Also, the regulatory pressure across the investment management industry remains another key concern. However, the company’s planned strategic initiatives like investment in technology and advisory services, strengthening distribution platform, along with introduction of products, will likely stoke long-term growth. Further, the company remains debt-free with sufficient liquidity and is focused on boosting shareholders’ confidence through steady capital deployment activities. Recently, the company recorded improved AUM for July 2017.”
  • 9/12/2017 – T. Rowe Price Group was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $93.00 price target on the stock. According to Zacks, “T. Rowe Price’s shares outperformed the industry over the last six months. The company’s second-quarter 2017 adjusted earnings outpaced the Zacks Consensus Estimate. Higher revenues and assets under management (AUM) were positives. However, elevated expenses were a concern. Given the strategic initiatives, management estimates operating expenses to grow 10% for 2017. Also, the regulatory pressure across the investment management industry remains another key concern. However, the company’s planned strategic initiatives like investment in technology and advisory services, strengthening distribution platform, along with introduction of products, will likely stoke long-term growth. Further, the company remains debt-free with sufficient liquidity and is focused on boosting shareholders’ confidence through steady capital deployment activities. Recently, the company recorded improved AUM for July 2017.”
  • 9/8/2017 – T. Rowe Price Group is now covered by analysts at Barclays PLC. They set an “underweight” rating and a $79.00 price target on the stock.
  • 8/21/2017 – T. Rowe Price Group was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “T. Rowe Price’s shares outperformed the industry over the last six months. The company’s second-quarter 2017 adjusted earnings outpaced the Zacks Consensus Estimate. Higher revenues and assets under management (AUM) were positives. However, elevated expenses were a concern. Given the strategic initiatives, management estimates operating expenses to grow 10% for 2017. Also, the regulatory pressure across the investment management industry remains another key concern. However, the company’s planned strategic initiatives like investment in technology and advisory services, strengthening distribution platform, along with introduction of products, will likely stoke long-term growth. Further, the company remains debt-free with sufficient liquidity and is focused on boosting shareholders’ confidence through steady capital deployment activities. Recently, the company recorded improved AUM for July 2017.”
  • 8/20/2017 – T. Rowe Price Group had its “buy” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $96.00 price target on the stock.
  • 8/14/2017 – T. Rowe Price Group was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating.

Shares of T. Rowe Price Group, Inc. (TROW) traded up 0.26% during mid-day trading on Tuesday, reaching $90.92. The company had a trading volume of 980,850 shares. The firm’s 50-day moving average is $84.75 and its 200 day moving average is $76.52. T. Rowe Price Group, Inc. has a 12 month low of $62.97 and a 12 month high of $91.19. The company has a market capitalization of $21.85 billion, a price-to-earnings ratio of 15.61 and a beta of 1.25.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Tuesday, July 25th. The asset manager reported $1.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.27 by $0.01. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.16 billion. T. Rowe Price Group had a net margin of 32.64% and a return on equity of 24.38%. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.76 earnings per share. On average, equities research analysts predict that T. Rowe Price Group, Inc. will post $5.65 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 28th. Stockholders of record on Thursday, September 14th were given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date was Wednesday, September 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 39.18%.

In other news, Director Anne M. Whittemore sold 8,326 shares of the firm’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $82.03, for a total value of $682,981.78. Following the completion of the sale, the director now directly owns 28,982 shares of the company’s stock, valued at $2,377,393.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Anne M. Whittemore sold 4,163 shares of the firm’s stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $90.64, for a total value of $377,334.32. Following the completion of the sale, the director now directly owns 29,070 shares of the company’s stock, valued at $2,634,904.80. The disclosure for this sale can be found here. In the last three months, insiders sold 23,883 shares of company stock valued at $2,008,036. Insiders own 3.60% of the company’s stock.

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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