Shares of T. Rowe Price Group Inc (NASDAQ:TROW) have been given a consensus recommendation of “Hold” by the sixteen analysts that are presently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $94.90.
Several research analysts have recently commented on the stock. Morgan Stanley raised shares of T. Rowe Price Group from an “underweight” rating to an “equal” rating and raised their target price for the stock from $77.00 to $93.00 in a report on Thursday, October 5th. Zacks Investment Research raised shares of T. Rowe Price Group from a “hold” rating to a “buy” rating and set a $98.00 target price on the stock in a report on Tuesday, September 26th. Goldman Sachs Group raised shares of T. Rowe Price Group from a “neutral” rating to a “buy” rating and raised their target price for the stock from $85.00 to $100.00 in a report on Thursday, September 28th. Barclays raised their target price on shares of T. Rowe Price Group from $79.00 to $84.00 and gave the stock an “underweight” rating in a report on Friday, October 27th. Finally, Jefferies Group reaffirmed a “buy” rating and set a $104.00 target price (up from $96.00) on shares of T. Rowe Price Group in a report on Tuesday, October 10th.
Shares of T. Rowe Price Group (NASDAQ:TROW) traded up $2.58 during trading hours on Monday, reaching $109.81. 1,136,626 shares of the company traded hands, compared to its average volume of 1,154,975. T. Rowe Price Group has a twelve month low of $65.33 and a twelve month high of $107.42. The firm has a market cap of $26,610.00, a P/E ratio of 17.97, a P/E/G ratio of 1.73 and a beta of 1.32.
The business also recently announced a quarterly dividend, which was paid on Thursday, December 28th. Shareholders of record on Thursday, December 14th were given a $0.57 dividend. The ex-dividend date of this dividend was Wednesday, December 13th. This represents a $2.28 dividend on an annualized basis and a yield of 2.08%. T. Rowe Price Group’s dividend payout ratio is currently 37.32%.
In other T. Rowe Price Group news, CFO Kenneth V. Moreland sold 14,419 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $97.07, for a total value of $1,399,652.33. Following the sale, the chief financial officer now owns 125,264 shares in the company, valued at $12,159,376.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP W. Sharps Robert sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $98.64, for a total transaction of $493,200.00. The disclosure for this sale can be found here. Insiders sold 204,980 shares of company stock worth $20,776,729 in the last 90 days. Company insiders own 3.60% of the company’s stock.
Several large investors have recently modified their holdings of TROW. Signature Estate & Investment Advisors LLC acquired a new position in shares of T. Rowe Price Group during the third quarter worth $118,000. Grove Bank & Trust lifted its holdings in shares of T. Rowe Price Group by 178.7% during the third quarter. Grove Bank & Trust now owns 1,310 shares of the asset manager’s stock worth $119,000 after purchasing an additional 840 shares during the period. Quadrant Capital Group LLC lifted its holdings in shares of T. Rowe Price Group by 5.4% during the second quarter. Quadrant Capital Group LLC now owns 1,749 shares of the asset manager’s stock worth $121,000 after purchasing an additional 89 shares during the period. Sun Life Financial INC lifted its holdings in shares of T. Rowe Price Group by 19,500.0% during the second quarter. Sun Life Financial INC now owns 1,764 shares of the asset manager’s stock worth $131,000 after purchasing an additional 1,755 shares during the period. Finally, Mckinley Capital Management LLC Delaware acquired a new position in T. Rowe Price Group in the second quarter valued at $152,000. Institutional investors own 72.38% of the company’s stock.
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T. Rowe Price Group Company Profile
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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