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.

T. Rowe Price Group Stock Up 4.2 %

TROW opened at $129.87 on Thursday. The firm's fifty day simple moving average is $118.06 and its two-hundred day simple moving average is $132.30. The company has a market cap of $29.31 billion, a price-to-earnings ratio of 12.54, a PEG ratio of 2.55 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 announced its quarterly earnings results on Thursday, July 28th. The asset manager reported $1.79 earnings per share for the quarter, missing analysts' consensus estimates of $2.64 by ($0.85). The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.68 billion. T. Rowe Price Group had a net margin of 33.26% and a return on equity of 28.18%. T. Rowe Price Group's revenue was down 20.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.31 earnings per share. On average, research analysts forecast that T. Rowe Price Group will post 8.27 EPS for the current year.

T. Rowe Price Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Thursday, September 15th will be given a $1.20 dividend. The ex-dividend date is Wednesday, September 14th. This represents a $4.80 annualized dividend and a yield of 3.70%. T. Rowe Price Group's dividend payout ratio (DPR) is 46.33%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. TheStreet lowered shares of T. Rowe Price Group from a "b-" rating to a "c" rating in a report on Wednesday, July 13th. JPMorgan Chase & Co. reduced their price target on shares of T. Rowe Price Group from $117.00 to $94.00 and set an "underweight" rating for the company in a research report on Monday, July 18th. Citigroup cut their target price on shares of T. Rowe Price Group from $110.00 to $90.00 in a research report on Friday, April 29th. BMO Capital Markets cut their target price on shares of T. Rowe Price Group from $135.00 to $115.00 in a research report on Monday, August 1st. Finally, Morgan Stanley dropped their price target 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 analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $130.30.

Insider Activity at T. Rowe Price Group

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