T. Rowe Price Group - TROW Stock Forecast, Price & News

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. It employs fundamental and quantitative analysis with a bottom-up approach. The firm utilizes in-house and external research to make its investments. It employs socially responsible investing with a focus on environmental, social, and governance issues. It makes investment in late-stage venture capital transactions and usually invests between $3 million and $5 million. The firm was previously known as T. Rowe Group, Inc. and T. Rowe Price Associates, Inc. T. Rowe Price Group, Inc. was founded in 1937 and is based in Baltimore, Maryland, with additional offices in Colorado Springs, Colorado; Owings Mills, Maryland; San Francisco, California; New York, New York; Philadelphia, Pennsylvania; Tampa, Florida; Toronto, Ontario; Hellerup, Denmark; Amsterdam, The Netherlands; Luxembourg, Grand Duchy of Luxembourg; Zurich, Switzerland; Dubai, United Arab Emirates; London, United Kingdom; Sydney, New South Wales; Hong Kong; Tokyo, Japan; Singapore; Frankfurt, Germany, Madrid, Spain, Milan, Italy, Stockholm, Sweden, Melbourne, Australia, and Amsterdam, Netherlands.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. TheStreet cut T. Rowe Price Group from a "b-" rating to a "c" rating in a research note on Wednesday, July 13th. JPMorgan Chase & Co. cut their price objective on shares of T. Rowe Price Group from $117.00 to $94.00 and set an "underweight" rating on the stock in a research note on Monday, July 18th. Citigroup cut their price objective on shares of T. Rowe Price Group from $110.00 to $90.00 in a research note on Friday, April 29th. The Goldman Sachs Group cut their price objective on shares of T. Rowe Price Group from $118.00 to $100.00 and set a "sell" rating on the stock in a research note on Wednesday, June 29th. Finally, Morgan Stanley cut their price objective on shares of T. Rowe Price Group from $124.00 to $123.00 and set an "equal weight" rating on the stock in a research note on Friday, July 29th. Five investment analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $132.30.

T. Rowe Price Group Stock Down 1.3 %

NASDAQ:TROW opened at $130.38 on Thursday. The business's 50-day moving average price is $118.65 and its 200 day moving average price is $131.49. The firm has a market cap of $29.43 billion, a P/E ratio of 12.58, a PEG ratio of 2.69 and a beta of 1.30. T. Rowe Price Group has a 52-week low of $104.72 and a 52-week high of $224.55.

T. Rowe Price Group (NASDAQ:TROW - Get Rating) last released its earnings results on Thursday, July 28th. The asset manager reported $1.79 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.64 by ($0.85). The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.68 billion. T. Rowe Price Group had a return on equity of 28.18% and a net margin of 33.26%. T. Rowe Price Group's revenue was down 20.4% on a year-over-year basis. During the same period in the previous year, the firm earned $3.31 earnings per share. Sell-side analysts expect that T. Rowe Price Group will post 8.31 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Thursday, September 15th will be paid a $1.20 dividend. The ex-dividend date is Wednesday, September 14th. This represents a $4.80 dividend on an annualized basis and a yield of 3.68%. T. Rowe Price Group's dividend payout ratio is currently 46.33%.

Insider Buying and Selling

In related news, insider Jessica M. Hiebler sold 959 shares of T. Rowe Price Group stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $124.57, for a total value of $119,462.63. Following the transaction, the insider now owns 12,183 shares of the company's stock, valued at approximately $1,517,636.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,891 shares of T. Rowe Price Group stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $126.91, for a total transaction of $1,509,086.81. Following the transaction, the vice president now owns 136,410 shares of the company's stock, valued at approximately $17,311,793.10. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jessica M. Hiebler sold 959 shares of T. Rowe Price Group stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $124.57, for a total value of $119,462.63. Following the transaction, the insider now directly owns 12,183 shares in the company, valued at approximately $1,517,636.31. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.