Investment Analysts’ Recent Ratings Updates for T. Rowe Price Group (TROW)

Posted by Shelly Janes on Nov 7th, 2024

A number of research firms have changed their ratings and price targets for T. Rowe Price Group (NASDAQ: TROW):

11/7/2024 – T. Rowe Price Group had its price target raised by analysts at Evercore ISI from $112.00 to $113.00. They now have an “in-line” rating on the stock.
11/4/2024 – T. Rowe Price Group had its price target lowered by analysts at JPMorgan Chase & Co. from $116.00 to $115.00. They now have an “underweight” rating on the stock.
11/4/2024 – T. Rowe Price Group had its price target raised by analysts at Barclays PLC from $101.00 to $110.00. They now have an “underweight” rating on the stock.
11/4/2024 – T. Rowe Price Group had its price target lowered by analysts at TD Cowen from $120.00 to $116.00. They now have a “hold” rating on the stock.
11/4/2024 – T. Rowe Price Group had its price target raised by analysts at Deutsche Bank Aktiengesellschaft from $113.00 to $115.00. They now have a “hold” rating on the stock.
11/4/2024 – T. Rowe Price Group had its price target raised by analysts at Morgan Stanley from $127.00 to $129.00. They now have an “equal weight” rating on the stock.
10/18/2024 – T. Rowe Price Group had its price target raised by analysts at Morgan Stanley from $125.00 to $127.00. They now have an “equal weight” rating on the stock.
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.

T. Rowe Price Group Trading Down 1.0 %

Shares of NASDAQ:TROW traded down $1.25 during trading on Thursday, reaching $120.06. 1,351,363 shares of the company traded hands, compared to its average volume of 1,263,357. T. Rowe Price Group, Inc. has a 52-week low of $90.02 and a 52-week high of $122.27. The business’s fifty day moving average is $108.79 and its 200-day moving average is $111.82. The firm has a market capitalization of $26.67 billion, a price-to-earnings ratio of 13.14, a P/E/G ratio of 1.73 and a beta of 1.41.

T. Rowe Price Group (NASDAQ:TROW – Get Free Report) last announced its quarterly earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.21. The business had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.84 billion. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The company’s revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the firm earned $2.17 EPS. On average, sell-side analysts predict that T. Rowe Price Group, Inc. will post 9.27 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued a dividend of $1.24 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.13%. T. Rowe Price Group’s dividend payout ratio is presently 54.27%.

Insider Buying and Selling

In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the stock in a transaction dated 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 completion of the transaction, the vice president now directly owns 123,624 shares of the company’s stock, valued at $12,712,255.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Jessica M. Hiebler sold 484 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $104.73, for a total value of $50,689.32. Following the completion of the transaction, the insider now directly owns 13,939 shares in the company, valued at $1,459,831.47. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the sale, the vice president now directly owns 123,624 shares in the company, valued at $12,712,255.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On T. Rowe Price Group

Several large investors have recently made changes to their positions in the business. Norden Group LLC bought a new stake in T. Rowe Price Group during the 1st quarter valued at about $420,000. Texas Permanent School Fund Corp lifted its position in T. Rowe Price Group by 0.5% in the 1st quarter. Texas Permanent School Fund Corp now owns 51,560 shares of the asset manager’s stock valued at $6,286,000 after acquiring an additional 266 shares in the last quarter. Empirical Finance LLC lifted its position in T. Rowe Price Group by 3.5% in the 1st quarter. Empirical Finance LLC now owns 8,176 shares of the asset manager’s stock valued at $997,000 after acquiring an additional 274 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in T. Rowe Price Group by 52.4% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 65,534 shares of the asset manager’s stock valued at $7,990,000 after purchasing an additional 22,533 shares during the last quarter. Finally, Empowered Funds LLC increased its holdings in shares of T. Rowe Price Group by 62.4% in the 1st quarter. Empowered Funds LLC now owns 25,779 shares of the asset manager’s stock worth $3,143,000 after purchasing an additional 9,910 shares in the last quarter. 73.39% of the stock is currently 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.