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 Price Performance
NASDAQ:TROW opened at $132.26 on Friday. T. Rowe Price Group has a 12 month low of $104.72 and a 12 month high of $224.55. The company has a market capitalization of $29.85 billion, a P/E ratio of 12.68, a PEG ratio of 2.65 and a beta of 1.30. The company's 50 day simple moving average is $118.11 and its 200 day simple moving average is $132.09.
T. Rowe Price Group (NASDAQ:TROW - Get Rating) last posted its quarterly earnings results on Thursday, July 28th. The asset manager reported $1.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.64 by ($0.85). T. Rowe Price Group had a net margin of 33.26% and a return on equity of 28.18%. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same period in the prior year, the company posted $3.31 EPS. T. Rowe Price Group's quarterly revenue was down 20.4% on a year-over-year basis. On average, analysts anticipate that T. Rowe Price Group will post 8.27 earnings per share for the current year.
T. Rowe Price Group Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Thursday, September 15th will be issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 3.63%. The ex-dividend date is Wednesday, September 14th. T. Rowe Price Group's dividend payout ratio is 46.33%.
Wall Street Analysts Forecast Growth
Several analysts have weighed in on TROW shares. TheStreet downgraded T. Rowe Price Group from a "b-" rating to a "c" rating in a research note on Wednesday, July 13th. Citigroup reduced their price objective on shares of T. Rowe Price Group from $110.00 to $90.00 in a report on Friday, April 29th. Morgan Stanley lowered their target price 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. The Goldman Sachs Group reduced their price target on shares of T. Rowe Price Group from $118.00 to $100.00 and set a "sell" rating for the company in a research note on Wednesday, June 29th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of T. Rowe Price Group from $120.00 to $138.00 and gave the company a "hold" rating in a research note on Friday. Five investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, T. Rowe Price Group presently has a consensus rating of "Hold" and a consensus target price of $132.30.
Insider Activity at T. Rowe Price Group
In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,891 shares of the business's 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 sale, the vice president now owns 136,410 shares in the company, valued at approximately $17,311,793.10. The transaction was disclosed in a filing with the SEC, which is available through this link. In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,891 shares of the business's stock in a transaction on 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 of the company's stock, valued at approximately $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 the firm's stock in a transaction on 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 sale, the insider now directly owns 12,183 shares of the company's stock, 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 corporate insiders.
