T. Rowe Price Group (TROW) – Investment Analysts’ Recent Ratings Changes

T. Rowe Price Group (NASDAQ: TROW) has recently received a number of price target changes and ratings updates:

• 10/14/2024 – T. Rowe Price Group had its price target raised by analysts at Barclays PLC from $99.00 to $101.00. They now have an “underweight” rating on the stock.
• 10/9/2024 – T. Rowe Price Group had its price target raised by analysts at Wells Fargo & Company from $109.00 to $112.00. They now have an “equal weight” rating on the stock.
• 10/4/2024 – T. Rowe Price Group had its price target raised by analysts at Evercore ISI from $108.00 to $109.00. They now have an “in-line” rating on the stock.
• 10/3/2024 – T. Rowe Price Group had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $106.00 to $102.00. They now have a “sell” rating on the stock.
• 9/12/2024 – T. Rowe Price Group is now covered by analysts at Wells Fargo & Company. They set an “equal weight” rating and a $109.00 price target on the stock.
• 9/5/2024 – T. Rowe Price Group had its price target lowered by analysts at Evercore ISI from $115.00 to $108.00. They now have an “in-line” rating on the stock.
• 8/27/2024 – T. Rowe Price Group is now covered by analysts at Barclays PLC. They set an “underweight” rating and a $99.00 price target on the stock.

T. Rowe Price Group Stock Up 1.5 %

Shares of NASDAQ:TROW opened at $113.21 on Friday. The firm has a 50 day moving average of $107.33 and a 200 day moving average of $112.09. The company has a market capitalization of $25.28 billion, a price-to-earnings ratio of 13.45, a price-to-earnings-growth ratio of 1.84 and a beta of 1.41. T. Rowe Price Group, Inc. has a 52 week low of $87.43 and a 52 week high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings results on Friday, July 26th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.01). The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.79 billion. T. Rowe Price Group had a return on equity of 19.90% and a net margin of 28.66%. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.02 earnings per share. On average, sell-side analysts expect that T. Rowe Price Group, Inc. will post 9.04 EPS for the current year.

T. Rowe Price Group Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a dividend of $1.24 per share. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.38%. The ex-dividend date of this dividend was Friday, September 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is presently 58.91%.

Insider Activity

In other news, insider Jessica M. Hiebler sold 484 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $104.73, for a total transaction of $50,689.32. Following the sale, the insider now directly owns 13,939 shares of the company’s stock, valued at $1,459,831.47. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other T. Rowe Price Group news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $102.83, for a total value of $1,230,772.27. Following the sale, the vice president now directly owns 123,624 shares of the company’s stock, valued at approximately $12,712,255.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jessica M. Hiebler sold 484 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $104.73, for a total transaction of $50,689.32. Following the sale, the insider now directly owns 13,939 shares in the company, valued at approximately $1,459,831.47. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On T. Rowe Price Group

Several hedge funds have recently modified their holdings of the company. Nomura Holdings Inc. acquired a new position in shares of T. Rowe Price Group during the 4th quarter worth about $691,000. Kapitalo Investimentos Ltda raised its holdings in T. Rowe Price Group by 17.4% in the 4th quarter. Kapitalo Investimentos Ltda now owns 1,179 shares of the asset manager’s stock valued at $127,000 after acquiring an additional 175 shares during the last quarter. GAMMA Investing LLC raised its holdings in T. Rowe Price Group by 39.7% in the 1st quarter. GAMMA Investing LLC now owns 1,791 shares of the asset manager’s stock valued at $218,000 after acquiring an additional 509 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in T. Rowe Price Group by 7.5% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 1,236 shares of the asset manager’s stock valued at $151,000 after acquiring an additional 86 shares during the last quarter. Finally, Czech National Bank raised its holdings in T. Rowe Price Group by 0.7% in the 1st quarter. Czech National Bank now owns 39,395 shares of the asset manager’s stock valued at $4,803,000 after acquiring an additional 255 shares during the last quarter. 73.39% of the stock is owned by hedge funds and other institutional investors.

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.