T. Rowe Price Group, Inc. (NASDAQ:TROW) Stock Has Average Target Price of $104.69

Key Points

• Analysts remain cautious: T. Rowe Price has a consensus “Reduce” rating from 14 analysts, with three sell ratings, 10 holds and one buy. The average 12-month price target is $104.69.
• Quarterly results exceeded expectations: The asset manager reported EPS of $2.57 versus the $2.52 consensus estimate, while revenue rose 10.7% year over year to $1.91 billion.
• Income remains a key attraction: The company pays a quarterly dividend of $1.30, equivalent to $5.20 annually and a 5.0% yield, with a 52.16% payout ratio.

T. Rowe Price Group, Inc. (NASDAQ:TROW - Get Free Report) has been assigned a consensus recommendation of "Reduce" from the fourteen analysts that are covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $104.69.

A number of brokerages recently commented on TROW. Weiss Ratings upgraded T. Rowe Price Group from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, September 4th. TD Cowen dropped their target price on T. Rowe Price Group from $110.00 to $109.00 and set a "hold" rating on the stock in a research report on Monday. BMO Capital Markets raised their target price on T. Rowe Price Group from $110.00 to $120.00 and gave the company a "market perform" rating in a research note on Monday, August 3rd. UBS Group started coverage on shares of T. Rowe Price Group in a report on Wednesday, October 7th. They set a "neutral" rating and a $107.00 price target for the company. Finally, The Goldman Sachs Group upped their price target on shares of T. Rowe Price Group from $90.00 to $92.00 and gave the stock a "sell" rating in a research report on Tuesday, June 30th.

Insiders Place Their Bets

In other T. Rowe Price Group news, VP Joshua Nelson sold 10,000 shares of the business's stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $111.82, for a total transaction of $1,118,200.00. Following the completion of the transaction, the vice president directly owned 71,328 shares of the company's stock, valued at $7,975,896.96. The trade was a 12.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On T. Rowe Price Group

Large investors have recently made changes to their positions in the company. Elevation Wealth Partners LLC increased its stake in T. Rowe Price Group by 173.0% during the 3rd quarter. Elevation Wealth Partners LLC now owns 273 shares of the asset manager's stock valued at $28,000 after buying an additional 173 shares during the period. Bank & Trust Co raised its position in shares of T. Rowe Price Group by 52.4% during the 2nd quarter. Bank & Trust Co now owns 314 shares of the asset manager's stock worth $36,000 after buying an additional 108 shares in the last quarter. Motiv8 Investments LLC acquired a new stake in shares of T. Rowe Price Group in the 4th quarter worth approximately $35,000. Keating Financial Advisory Services Inc. acquired a new stake in shares of T. Rowe Price Group in the 2nd quarter worth approximately $39,000. Finally, Clearstead Trust LLC bought a new position in shares of T. Rowe Price Group in the second quarter valued at approximately $41,000. Institutional investors and hedge funds own 73.39% of the company's stock.

T. Rowe Price Group Trading Down 1.1%

NASDAQ:TROW opened at $103.99 on Tuesday. The stock has a 50 day moving average of $108.37 and a 200-day moving average of $106.47. The firm has a market capitalization of $22.18 billion, a PE ratio of 10.43, a price-to-earnings-growth ratio of 4.56 and a beta of 1.45. T. Rowe Price Group has a 52 week low of $85.22 and a 52 week high of $122.00.

T. Rowe Price Group (NASDAQ:TROW - Get Free Report) last announced its quarterly earnings results on Friday, July 31st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.52 by $0.05. T. Rowe Price Group had a return on equity of 20.91% and a net margin of 29.26%. The business had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter last year, the business posted $2.24 EPS. The business's revenue was up 10.7% on a year-over-year basis. As a group, analysts predict that T. Rowe Price Group will post 10.13 EPS for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th were given a $1.30 dividend. The ex-dividend date was Tuesday, September 15th. This represents a $5.20 annualized dividend and a yield of 5.0%. T. Rowe Price Group's dividend payout ratio (DPR) is currently 52.16%.

T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a global investment management firm headquartered in Baltimore, Maryland. The company provides investment strategies and related services to individual investors, retirement plans, financial intermediaries, institutions, and other clients.

Its offerings include actively managed mutual funds, exchange-traded funds, separately managed accounts, collective investment trusts, and other portfolio solutions. T. Rowe Price invests across equity, fixed-income, multi-asset, and alternative strategies, and also provides retirement planning, asset allocation, advisory, and investment research services.

Founded in 1937 by Thomas Rowe Price Jr., the company serves clients through operations and distribution relationships in the United States and international markets.

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