T. Rowe Price Group, Inc. (NASDAQ:TROW – Get Rating) declared a quarterly dividend on Tuesday, May 10, reports RTT News. Shareholders of record on Wednesday, June 15 will receive a dividend of 1.20 per share from the asset manager on Wednesday, June 29. This represents an annualized dividend of $4.80 and a dividend yield of 3.93%.
T. Rowe Price Group has increased its dividend by an average of 37.8% per year over the past three years and has increased its dividend annually for the past 36 consecutive years. The T. Rowe Price Group has a payout ratio of 42.9%, indicating that its dividend is sufficiently covered by earnings. Equity research analysts expect T. Rowe Price Group to earn $11.51 per share next year, meaning the company should continue to be able to cover its 4-year dividend. $80 with an expected future payout ratio of 41.7%.
Shares of NASDAQ:TROW traded down $0.28 in Tuesday’s midday session, hitting $122.16. The company’s shares had a trading volume of 21,353 shares, compared to an average trading volume of 1,815,283 shares. The company’s 50-day simple moving average is $140.99 and its 200-day simple moving average is $169.09. The company has a market capitalization of $27.77 billion, a P/E ratio of 9.91, a price-to-earnings growth ratio of 1.95 and a beta of 1.34. T. Rowe Price Group has a 12-month low of $122.06 and a 12-month high of $224.55.
T. Rowe Price Group (NASDAQ:TROW – Get Rating) last released its quarterly results on Thursday, April 28. The asset manager reported earnings per share of $2.62 for the quarter, missing the consensus estimate of $2.76 ($0.14). The company posted revenue of $1.86 billion in the quarter, versus $1.86 billion expected by analysts. T. Rowe Price Group achieved a return on equity of 33.38% and a net margin of 37.64%. The company’s quarterly revenue increased 2.0% year over year. In the same period a year earlier, the company posted earnings of $3.01 per share. Sell-side analysts expect T. Rowe Price Group to post EPS of 10.93 for the current year.
Separately, insider Jessica M. Hiebler sold 730 shares of T. Rowe Price Group shares in a trade that took place on Monday, May 2. The shares were sold at an average price of $125.00, for a total value of $91,250.00. Following the completion of the transaction, the insider now owns 13,089 shares of the company, valued at $1,636,125. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Additionally, insider Jessica M. Hiebler sold 1,260 shares of T. Rowe Price Group shares in a trade that took place on Monday, February 28. The shares were sold at an average price of $143.65, for a total transaction of $180,999.00. The disclosure of this sale can be found here. Insiders sold a total of 10,206 shares of the company worth $1,446,480 in the past three months. Insiders hold 2.00% of the shares of the company.
Several hedge funds have recently changed their positions in TROW. OLD Mission Capital LLC acquired a new position in shares of T. Rowe Price Group in the third quarter worth approximately $5,688,000. California State Teachers Retirement System increased its holdings in T. Rowe Price Group by 1.4% during the fourth quarter. California State Teachers Retirement System now owns 399,153 shares of the asset manager worth $78,489,000 after acquiring 5,424 additional shares in the last quarter. Toroso Investments LLC increased its stake in T. Rowe Price Group by 41.7% during the 4th quarter. Toroso Investments LLC now owns 14,102 shares of the asset manager worth $2,773,000 after acquiring 4,153 additional shares last quarter. Forum Financial Management LP acquired a new position in T. Rowe Price Group during Q4 worth approximately $339,000. Finally, Sequoia Financial Advisors LLC acquired a new position in T. Rowe Price Group during Q4 worth approximately $331,000. Hedge funds and other institutional investors hold 71.80% of the company’s shares.
Several equity analysts have recently weighed in on the stock. BMO Capital Markets cut its price target on T. Rowe Price Group shares from $204.00 to $160.00 and set an “outperform” rating on the stock in a Monday research note 2 may. StockNews.com took over coverage of T. Rowe Price Group stocks in a Thursday, March 31 research note. They have placed a “holding” rating on the stock. Deutsche Bank Aktiengesellschaft cut its price target on T. Rowe Price Group shares from $159.00 to $145.00 and set a “hold” rating on the stock in a Thursday 7 research note. april. Morgan Stanley cut its price target on T. Rowe Price Group stock from $178.00 to $170.00 and set an “equal weight” rating on the stock in a Monday, April 25 research note . Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a target price of $156.00 on T. Rowe Price Group shares in a Monday, April 11 research note. Four research analysts gave the stock a sell rating, six gave the stock a hold rating and two gave the stock a buy rating. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $170.00.
T. Rowe Price Group Company Profile (Get a rating)
T. Rowe Price Group, Inc. is a publicly owned investment manager. The firm offers its services to individuals, institutional investors, pension plans, financial intermediaries and institutions. It initiates and manages equity and fixed income mutual funds. The company invests in public equity and fixed income markets around the world.
Receive daily news and reviews for the T. Rowe Price Group – Enter your email address below to receive a concise daily summary of breaking news and analyst ratings for T. Rowe Price Group and related companies with MarketBeat.com’s FREE daily newsletter.