T. Rowe Price Group (TROW) – Analysts’ Weekly Ratings Updates

Several brokerages have updated their recommendations and price targets on shares of T. Rowe Price Group (NASDAQ: TROW) in the last few weeks:

  • 10/29/2018 – T. Rowe Price Group was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Shares of T. Rowe Price have outperformed the industry, year to date. Further, the company possesses a decent earnings surprise history, beating the Zacks Consensus Estimate in two of the trailing four quarters. The third-quarter 2018 results were driven by growth in revenues and AUM. However, higher expenses were an undermining factor. The company’s planned strategic initiatives, including investment in technology and advisory services, strengthening distribution platform, introduction of products, will likely stoke long-term growth. Further, it remains debt free with sufficient liquidity and is focused on raising shareholders’ confidence through steady capital-deployment activities. Though rising costs and the regulatory pressure across the investment management industry remain key concerns, robust organic growth and diverse business model keep the company well poised for growth.”
  • 10/29/2018 – T. Rowe Price Group had its price target lowered by analysts at Citigroup Inc from $113.00 to $105.00. They now have a “hold” rating on the stock.
  • 10/26/2018 – T. Rowe Price Group had its price target lowered by analysts at Barclays PLC from $114.00 to $95.00. They now have an “underweight” rating on the stock.
  • 10/26/2018 – T. Rowe Price Group had its price target lowered by analysts at Credit Suisse Group AG from $161.00 to $123.00. They now have an “outperform” rating on the stock.
  • 10/26/2018 – T. Rowe Price Group had its price target lowered by analysts at Wells Fargo & Co from $115.00 to $106.00. They now have a “market perform” rating on the stock.
  • 10/11/2018 – T. Rowe Price Group had its price target lowered by analysts at Deutsche Bank AG from $119.00 to $112.00. They now have a “hold” rating on the stock.
  • 10/11/2018 – T. Rowe Price Group was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $122.00 price target on the stock. According to Zacks, “Shares of T. Rowe Price have outperformed the industry year to date. Further, the company possesses a decent earnings surprise history, beating the Zacks Consensus Estimate in two of the trailing four quarters. The company’s planned strategic initiatives, including investment in technology and advisory services, strengthening distribution platform, introduction of products, will likely stoke long-term growth. Further, it remains debt free with sufficient liquidity and is focused on raising shareholders’ confidence through steady capital deployment activities. Though rising costs and the regulatory pressure across the investment management industry remain key concerns, robust organic growth and diverse business model keep the company well poised for growth.”
  • 10/9/2018 – T. Rowe Price Group had its price target raised by analysts at Morgan Stanley from $116.00 to $118.00. They now have a “hold” rating on the stock.
  • 10/8/2018 – T. Rowe Price Group had its price target lowered by analysts at UBS Group AG from $127.00 to $121.00. They now have a “neutral” rating on the stock.
  • 9/27/2018 – T. Rowe Price Group had its price target raised by analysts at Deutsche Bank AG from $118.00 to $119.00. They now have a “hold” rating on the stock.

TROW traded down $1.41 during midday trading on Friday, hitting $98.48. The company had a trading volume of 1,681,539 shares, compared to its average volume of 1,435,798. T. Rowe Price Group Inc has a 52 week low of $92.01 and a 52 week high of $127.43. The company has a market cap of $23.86 billion, a P/E ratio of 18.14, a price-to-earnings-growth ratio of 1.13 and a beta of 1.21.

T. Rowe Price Group (NASDAQ:TROW) last posted its quarterly earnings results on Thursday, October 25th. The asset manager reported $2.30 earnings per share for the quarter, beating the consensus estimate of $1.93 by $0.37. T. Rowe Price Group had a net margin of 33.98% and a return on equity of 29.52%. The firm had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same period in the previous year, the firm posted $1.56 earnings per share. As a group, analysts forecast that T. Rowe Price Group Inc will post 7.37 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Friday, December 14th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date of this dividend is Thursday, December 13th. T. Rowe Price Group’s dividend payout ratio is currently 51.57%.

Several hedge funds and other institutional investors have recently modified their holdings of TROW. Lcnb Corp boosted its holdings in T. Rowe Price Group by 10.5% during the second quarter. Lcnb Corp now owns 4,831 shares of the asset manager’s stock worth $561,000 after purchasing an additional 461 shares during the last quarter. Creative Financial Designs Inc. ADV boosted its holdings in T. Rowe Price Group by 32.3% during the second quarter. Creative Financial Designs Inc. ADV now owns 2,014 shares of the asset manager’s stock worth $234,000 after purchasing an additional 492 shares during the last quarter. GHP Investment Advisors Inc. boosted its holdings in T. Rowe Price Group by 2.2% during the second quarter. GHP Investment Advisors Inc. now owns 23,476 shares of the asset manager’s stock worth $2,725,000 after purchasing an additional 495 shares during the last quarter. Commonwealth Bank of Australia boosted its holdings in T. Rowe Price Group by 2.1% during the third quarter. Commonwealth Bank of Australia now owns 24,502 shares of the asset manager’s stock worth $2,668,000 after purchasing an additional 500 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its holdings in T. Rowe Price Group by 2.2% during the second quarter. Advisors Asset Management Inc. now owns 23,641 shares of the asset manager’s stock worth $2,744,000 after purchasing an additional 502 shares during the last quarter. Hedge funds and other institutional investors own 70.99% of the company’s stock.

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.

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