T. Rowe Price Group (TROW) Raised to “Neutral” at UBS Group

UBS Group upgraded shares of T. Rowe Price Group (NASDAQ:TROW) from a sell rating to a neutral rating in a report issued on Tuesday, 99wallstreet.com reports. They currently have $110.00 price target on the asset manager’s stock, up from their previous price target of $75.00.

TROW has been the topic of a number of other research reports. Zacks Investment Research cut shares of T. Rowe Price Group from a buy rating to a hold rating and set a $115.00 target price on the stock. in a report on Friday, January 5th. Morgan Stanley raised shares of T. Rowe Price Group from an underweight rating to an equal rating and boosted their target price for the company from $77.00 to $93.00 in a report on Thursday, October 5th. Goldman Sachs Group raised shares of T. Rowe Price Group from a neutral rating to a buy rating and boosted their target price for the company from $85.00 to $100.00 in a report on Thursday, September 28th. Barclays boosted their target price on shares of T. Rowe Price Group from $79.00 to $84.00 and gave the company an underweight rating in a report on Friday, October 27th. Finally, Citigroup boosted their target price on shares of T. Rowe Price Group from $94.00 to $95.00 and gave the company a neutral rating in a report on Friday, October 27th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. T. Rowe Price Group has a consensus rating of Hold and a consensus target price of $98.70.

Shares of T. Rowe Price Group (TROW) opened at $115.35 on Tuesday. T. Rowe Price Group has a 1-year low of $65.33 and a 1-year high of $115.62. The stock has a market cap of $27,950.00, a price-to-earnings ratio of 18.88, a price-to-earnings-growth ratio of 1.73 and a beta of 1.32.

T. Rowe Price Group (NASDAQ:TROW) last issued its earnings results on Thursday, October 26th. The asset manager reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.20. T. Rowe Price Group had a net margin of 33.10% and a return on equity of 24.76%. The business had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter in the previous year, the firm posted $1.17 EPS. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. equities analysts anticipate that T. Rowe Price Group will post 5.29 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, December 28th. Stockholders of record on Thursday, December 14th were issued a $0.57 dividend. The ex-dividend date was Wednesday, December 13th. This represents a $2.28 annualized dividend and a dividend yield of 1.98%. T. Rowe Price Group’s payout ratio is currently 37.32%.

In other news, CFO Kenneth V. Moreland sold 8,066 shares of the company’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $104.12, for a total value of $839,831.92. Following the transaction, the chief financial officer now owns 100,796 shares of the company’s stock, valued at $10,494,879.52. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Freeman A. Hrabowski III sold 4,000 shares of the company’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $101.59, for a total transaction of $406,360.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 204,980 shares of company stock worth $20,776,729. Insiders own 3.60% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Security National Bank of SO Dak increased its holdings in shares of T. Rowe Price Group by 0.7% in the second quarter. Security National Bank of SO Dak now owns 11,910 shares of the asset manager’s stock worth $884,000 after purchasing an additional 85 shares during the period. Quadrant Capital Group LLC grew its position in T. Rowe Price Group by 5.4% in the second quarter. Quadrant Capital Group LLC now owns 1,749 shares of the asset manager’s stock worth $121,000 after acquiring an additional 89 shares in the last quarter. Hall Capital Management Co. Inc. grew its position in T. Rowe Price Group by 1.2% in the second quarter. Hall Capital Management Co. Inc. now owns 10,942 shares of the asset manager’s stock worth $812,000 after acquiring an additional 130 shares in the last quarter. TCI Wealth Advisors Inc. grew its position in T. Rowe Price Group by 5.6% in the second quarter. TCI Wealth Advisors Inc. now owns 2,535 shares of the asset manager’s stock worth $188,000 after acquiring an additional 135 shares in the last quarter. Finally, Thrivent Financial For Lutherans grew its position in T. Rowe Price Group by 2.2% in the second quarter. Thrivent Financial For Lutherans now owns 9,118 shares of the asset manager’s stock worth $677,000 after acquiring an additional 200 shares in the last quarter. 72.38% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for T. Rowe Price Group (NASDAQ:TROW)

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