T. Rowe Price Group (TROW) Upgraded by UBS Group to “Neutral”

UBS Group upgraded shares of T. Rowe Price Group (NASDAQ:TROW) from a sell rating to a neutral rating in a report released on Tuesday morning, 99wallstreet.com reports. They currently have $110.00 price objective on the asset manager’s stock, up from their prior price objective of $75.00.

TROW has been the subject of several other reports. Zacks Investment Research cut shares of T. Rowe Price Group from a buy rating to a hold rating and set a $115.00 target price for the company. in a research note on Friday, January 5th. Morgan Stanley upgraded shares of T. Rowe Price Group from an underweight rating to an equal rating and boosted their target price for the company from $77.00 to $93.00 in a research note on Thursday, October 5th. Goldman Sachs Group upgraded shares of T. Rowe Price Group from a neutral rating to a buy rating and boosted their target price for the company from $85.00 to $100.00 in a research note on Thursday, September 28th. Barclays boosted their target price on shares of T. Rowe Price Group from $79.00 to $84.00 and gave the company an underweight rating in a research note on Friday, October 27th. Finally, Citigroup boosted their target price on shares of T. Rowe Price Group from $94.00 to $95.00 and gave the company a neutral rating in a research note on Friday, October 27th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of Hold and a consensus price target of $98.70.

Shares of T. Rowe Price Group (NASDAQ:TROW) traded up $0.52 during midday trading on Tuesday, reaching $112.27. 1,044,069 shares of the company’s stock traded hands, compared to its average volume of 1,238,943. T. Rowe Price Group has a twelve month low of $65.33 and a twelve month high of $112.70. The firm has a market cap of $27,180.00, a PE ratio of 18.37, a price-to-earnings-growth ratio of 1.73 and a beta of 1.32.

T. Rowe Price Group (NASDAQ:TROW) last announced its quarterly earnings data on Thursday, October 26th. The asset manager reported $1.56 EPS for the quarter, beating the consensus estimate of $1.36 by $0.20. T. Rowe Price Group had a net margin of 33.10% and a return on equity of 24.76%. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the previous year, the business posted $1.17 EPS. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. sell-side analysts forecast that T. Rowe Price Group will post 5.29 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 28th. Shareholders of record on Thursday, December 14th were given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend was Wednesday, December 13th. T. Rowe Price Group’s dividend payout ratio is presently 37.32%.

In other T. Rowe Price Group news, VP Christopher D. Alderson sold 6,808 shares of the company’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $102.83, for a total transaction of $700,066.64. Following the completion of the transaction, the vice president now directly owns 119,846 shares in the company, valued at $12,323,764.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP W. Sharps Robert sold 5,000 shares of the company’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $98.64, for a total transaction of $493,200.00. The disclosure for this sale can be found here. Insiders have sold 204,980 shares of company stock valued at $20,776,729 over the last 90 days. 3.60% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of TROW. Capital World Investors raised its position in T. Rowe Price Group by 235.0% during the second quarter. Capital World Investors now owns 10,512,236 shares of the asset manager’s stock worth $780,113,000 after acquiring an additional 7,373,953 shares during the period. The Manufacturers Life Insurance Company raised its position in T. Rowe Price Group by 526.3% during the second quarter. The Manufacturers Life Insurance Company now owns 1,774,796 shares of the asset manager’s stock worth $131,707,000 after acquiring an additional 1,491,425 shares during the period. Bahl & Gaynor Inc. raised its position in T. Rowe Price Group by 65.5% during the second quarter. Bahl & Gaynor Inc. now owns 1,225,132 shares of the asset manager’s stock worth $92,203,000 after acquiring an additional 484,994 shares during the period. Prudential Financial Inc. raised its position in T. Rowe Price Group by 94.1% during the third quarter. Prudential Financial Inc. now owns 709,261 shares of the asset manager’s stock worth $64,295,000 after acquiring an additional 343,926 shares during the period. Finally, Mackenzie Financial Corp acquired a new position in T. Rowe Price Group during the third quarter worth $28,685,000. Institutional investors own 72.38% of the company’s stock.

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T. Rowe Price Group Company Profile

T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services through its subsidiaries to investors across the world. The Company provides an array of Company sponsored the United States mutual funds, other sponsored pooled investment vehicles, sub advisory services, separate account management, recordkeeping, and related services to individuals, advisors, institutions, financial intermediaries and retirement plan sponsors.

Analyst Recommendations for T. Rowe Price Group (NASDAQ:TROW)

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