T. Rowe Price Group, Inc. (TROW) Research Coverage Started at Barclays PLC

Barclays PLC started coverage on shares of T. Rowe Price Group, Inc. (NASDAQ:TROW) in a research report sent to investors on Friday morning, MarketBeat reports. The brokerage issued an underweight rating and a $79.00 price objective on the asset manager’s stock.

TROW has been the subject of several other research reports. UBS AG reaffirmed a sell rating and set a $63.00 price target (up previously from $62.00) on shares of T. Rowe Price Group in a research note on Friday, July 14th. Citigroup Inc. boosted their target price on shares of T. Rowe Price Group from $73.50 to $90.00 and gave the company a neutral rating in a research note on Wednesday, July 26th. Zacks Investment Research raised shares of T. Rowe Price Group from a hold rating to a buy rating and set a $83.00 target price for the company in a research note on Wednesday, June 28th. BidaskClub downgraded shares of T. Rowe Price Group from a strong-buy rating to a buy rating in a research note on Tuesday, August 1st. Finally, Credit Suisse Group boosted their target price on shares of T. Rowe Price Group from $70.00 to $90.00 and gave the company a neutral rating in a research note on Wednesday, July 26th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $80.30.

Shares of T. Rowe Price Group (NASDAQ TROW) opened at 83.35 on Friday. The stock has a market cap of $20.03 billion, a price-to-earnings ratio of 14.31 and a beta of 1.24. The stock’s 50 day moving average is $83.14 and its 200-day moving average is $74.81. T. Rowe Price Group has a 12-month low of $62.97 and a 12-month high of $85.42.

T. Rowe Price Group (NASDAQ:TROW) last released its quarterly earnings results on Tuesday, July 25th. The asset manager reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.01. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.16 billion. T. Rowe Price Group had a return on equity of 24.38% and a net margin of 32.64%. The business’s revenue was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.76 EPS. Equities analysts anticipate that T. Rowe Price Group will post $5.66 EPS for the current fiscal year.

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The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Thursday, September 14th will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.74%. The ex-dividend date is Wednesday, September 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is 39.18%.

In other news, Director Anne M. Whittemore sold 8,326 shares of the business’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $82.03, for a total transaction of $682,981.78. Following the completion of the sale, the director now owns 28,982 shares in the company, valued at approximately $2,377,393.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jessica M. Hiebler sold 1,000 shares of the business’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $84.29, for a total value of $84,290.00. Following the sale, the insider now owns 8,461 shares of the company’s stock, valued at approximately $713,177.69. The disclosure for this sale can be found here. Insiders sold a total of 19,720 shares of company stock valued at $1,630,701 in the last 90 days. 3.60% of the stock is owned by company insiders.

Several large investors have recently modified their holdings of TROW. Nationwide Fund Advisors grew its holdings in shares of T. Rowe Price Group by 4.4% during the 1st quarter. Nationwide Fund Advisors now owns 116,426 shares of the asset manager’s stock worth $7,934,000 after purchasing an additional 4,867 shares during the period. Profund Advisors LLC grew its holdings in shares of T. Rowe Price Group by 5.1% during the 1st quarter. Profund Advisors LLC now owns 7,904 shares of the asset manager’s stock worth $539,000 after purchasing an additional 383 shares during the period. Russell Investments Group Ltd. grew its holdings in shares of T. Rowe Price Group by 11.2% during the 1st quarter. Russell Investments Group Ltd. now owns 40,642 shares of the asset manager’s stock worth $2,771,000 after purchasing an additional 4,086 shares during the period. Vantage Investment Partners LLC purchased a new stake in shares of T. Rowe Price Group during the 1st quarter worth about $12,040,000. Finally, Commerzbank Aktiengesellschaft FI grew its holdings in shares of T. Rowe Price Group by 38.8% during the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 7,264 shares of the asset manager’s stock worth $495,000 after purchasing an additional 2,031 shares during the period. Institutional investors and hedge funds own 74.20% of the company’s stock.

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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