T. Rowe Price Group (NASDAQ:TROW) PT Lowered to $102.00 at The Goldman Sachs Group

by · The Cerbat Gem

T. Rowe Price Group (NASDAQ:TROW – Free Report) had its price objective decreased by The Goldman Sachs Group from $106.00 to $102.00 in a report issued on Thursday, Benzinga reports. The Goldman Sachs Group currently has a sell rating on the asset manager’s stock.

A number of other brokerages have also recently weighed in on TROW. JPMorgan Chase & Co. lifted their price target on shares of T. Rowe Price Group from $102.00 to $107.00 and gave the stock an underweight rating in a research report on Tuesday, July 23rd. Barclays assumed coverage on T. Rowe Price Group in a research note on Tuesday, August 27th. They issued an underweight rating and a $99.00 target price for the company. Evercore ISI lowered their price target on T. Rowe Price Group from $115.00 to $108.00 and set an in-line rating for the company in a report on Thursday, September 5th. StockNews.com cut T. Rowe Price Group from a buy rating to a hold rating in a report on Monday, July 29th. Finally, Keefe, Bruyette & Woods reissued a market perform rating and set a $120.00 target price (down from $121.00) on shares of T. Rowe Price Group in a research note on Monday, July 29th. Four research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Hold and a consensus target price of $112.36.

Read Our Latest Research Report on TROW

T. Rowe Price Group Trading Up 1.9 %

NASDAQ TROW opened at $108.47 on Thursday. T. Rowe Price Group has a 12 month low of $87.43 and a 12 month high of $122.27. The company has a market capitalization of $24.22 billion, a PE ratio of 12.88, a P/E/G ratio of 1.72 and a beta of 1.41. The stock has a 50-day simple moving average of $107.17 and a 200 day simple moving average of $112.71.

T. Rowe Price Group (NASDAQ:TROW – Get Free Report) last announced its quarterly earnings results on Friday, July 26th. The asset manager reported $2.26 earnings per share for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.01). T. Rowe Price Group had a net margin of 28.66% and a return on equity of 19.90%. The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.79 billion. During the same quarter in the prior year, the business earned $2.02 earnings per share. The business’s revenue was up 7.6% on a year-over-year basis. As a group, sell-side analysts predict that T. Rowe Price Group will post 8.96 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a $1.24 dividend. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.57%. The ex-dividend date was Friday, September 13th. T. Rowe Price Group’s dividend payout ratio is presently 58.91%.

Insider Activity at T. Rowe Price Group

In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $104.73, for a total transaction of $50,689.32. Following the sale, the insider now directly owns 13,939 shares of the company’s stock, valued at $1,459,831.47. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In other T. Rowe Price Group news, insider Jessica M. Hiebler sold 484 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $104.73, for a total value of $50,689.32. Following the completion of the transaction, the insider now directly owns 13,939 shares in the company, valued at $1,459,831.47. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $102.83, for a total value of $1,230,772.27. Following the transaction, the vice president now directly owns 123,624 shares in the company, valued at $12,712,255.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of TROW. The Manufacturers Life Insurance Company grew its holdings in T. Rowe Price Group by 5.5% during the fourth quarter. The Manufacturers Life Insurance Company now owns 165,722 shares of the asset manager’s stock worth $17,847,000 after purchasing an additional 8,678 shares during the period. NEOS Investment Management LLC increased its holdings in shares of T. Rowe Price Group by 41.2% during the 4th quarter. NEOS Investment Management LLC now owns 3,163 shares of the asset manager’s stock worth $341,000 after acquiring an additional 923 shares during the last quarter. Belpointe Asset Management LLC raised its stake in T. Rowe Price Group by 18.9% in the 4th quarter. Belpointe Asset Management LLC now owns 2,304 shares of the asset manager’s stock valued at $248,000 after acquiring an additional 367 shares during the period. Royal London Asset Management Ltd. raised its stake in T. Rowe Price Group by 1.7% in the 4th quarter. Royal London Asset Management Ltd. now owns 85,811 shares of the asset manager’s stock valued at $9,241,000 after acquiring an additional 1,440 shares during the period. Finally, Tower Research Capital LLC TRC lifted its holdings in T. Rowe Price Group by 117.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 30,437 shares of the asset manager’s stock valued at $3,278,000 after purchasing an additional 16,409 shares during the last quarter. Institutional investors own 73.39% of the company’s stock.

T. Rowe Price Group Company Profile

(Get Free Report)

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.

Read More