T. Rowe Price Group (TROW) – Research Analysts’ Recent Ratings Changes

T. Rowe Price Group (NASDAQ: TROW) recently received a number of ratings updates from brokerages and research firms:

• 8/15/2024 – T. Rowe Price Group had its price target raised by analysts at Deutsche Bank Aktiengesellschaft from $112.00 to $113.00. They now have a “hold” rating on the stock.
• 7/29/2024 – T. Rowe Price Group had its “market perform” rating reaffirmed by analysts at Keefe, Bruyette & Woods. They now have a $120.00 price target on the stock, down previously from $121.00.
• 7/29/2024 – T. Rowe Price Group was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 7/29/2024 – T. Rowe Price Group had its price target lowered by analysts at TD Cowen from $123.00 to $118.00. They now have a “hold” rating on the stock.
• 7/29/2024 – T. Rowe Price Group had its price target lowered by analysts at Deutsche Bank Aktiengesellschaft from $122.00 to $112.00. They now have a “hold” rating on the stock.
• 7/23/2024 – T. Rowe Price Group had its price target raised by analysts at JPMorgan Chase & Co. from $102.00 to $107.00. They now have an “underweight” rating on the stock.
• 7/12/2024 – T. Rowe Price Group had its price target raised by analysts at Keefe, Bruyette & Woods from $120.00 to $121.00. They now have a “market perform” rating on the stock.
• 7/10/2024 – T. Rowe Price Group was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 7/8/2024 – T. Rowe Price Group had its price target raised by analysts at TD Cowen from $121.00 to $123.00. They now have a “hold” rating on the stock.

T. Rowe Price Group Trading Up 0.3 %

Shares of NASDAQ:TROW traded up $0.37 during trading on Friday, hitting $108.61. 76,246 shares of the company’s stock traded hands, compared to its average volume of 1,288,823. The company has a 50-day moving average price of $113.79 and a 200-day moving average price of $113.89. T. Rowe Price Group, Inc. has a 52 week low of $87.43 and a 52 week high of $122.27. The company has a market cap of $24.18 billion, a price-to-earnings ratio of 12.90, a price-to-earnings-growth ratio of 1.63 and a beta of 1.42.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Friday, July 26th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.27 by ($0.01). The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.79 billion. T. Rowe Price Group had a return on equity of 19.90% and a net margin of 28.66%. The business’s revenue was up 7.6% compared to the same quarter last year. During the same period last year, the company posted $2.02 earnings per share. On average, analysts predict that T. Rowe Price Group, Inc. will post 8.98 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a dividend of $1.24 per share. The ex-dividend date is Friday, September 13th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.57%. T. Rowe Price Group’s payout ratio is presently 58.91%.

Insider Transactions at T. Rowe Price Group

In other news, VP Dorothy C. Sawyer sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $117.00, for a total value of $234,000.00. Following the completion of the transaction, the vice president now owns 34,710 shares of the company’s stock, valued at $4,061,070. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Jessica M. Hiebler sold 1,401 shares of the company’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $115.85, for a total transaction of $162,305.85. Following the sale, the insider now owns 14,198 shares in the company, valued at approximately $1,644,838.30. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Dorothy C. Sawyer sold 2,000 shares of the stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $117.00, for a total value of $234,000.00. Following the transaction, the vice president now owns 34,710 shares in the company, valued at $4,061,070. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On T. Rowe Price Group

Hedge funds have recently added to or reduced their stakes in the company. Lynx Investment Advisory purchased a new stake in shares of T. Rowe Price Group in the second quarter worth approximately $29,000. First United Bank & Trust bought a new position in T. Rowe Price Group during the 4th quarter valued at $31,000. Family Firm Inc. purchased a new position in T. Rowe Price Group during the 2nd quarter worth $36,000. Versant Capital Management Inc grew its stake in shares of T. Rowe Price Group by 660.5% in the 2nd quarter. Versant Capital Management Inc now owns 327 shares of the asset manager’s stock worth $38,000 after acquiring an additional 284 shares in the last quarter. Finally, Signature Resources Capital Management LLC purchased a new stake in shares of T. Rowe Price Group in the fourth quarter valued at about $39,000. Institutional investors and hedge funds own 73.39% of the company’s stock.

T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.