T. Rowe Price Group Inc. (NASDAQ:TROW) had its price target cut by equities research analysts at Barclays PLC from $72.00 to $68.00 in a research report issued on Thursday. The brokerage presently has an “equal weight” rating on the stock. Barclays PLC’s price objective points to a potential upside of 2.78% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. JPMorgan Chase & Co. reduced their price objective on T. Rowe Price Group from $75.00 to $65.00 and set an “underweight” rating on the stock in a research note on Wednesday, July 27th. Morgan Stanley reduced their price objective on T. Rowe Price Group from $74.00 to $71.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 28th. Deutsche Bank AG reduced their price objective on T. Rowe Price Group from $86.00 to $82.00 and set a “buy” rating on the stock in a research note on Thursday, June 16th. Citigroup Inc. reduced their price objective on T. Rowe Price Group from $78.00 to $72.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 27th. Finally, TheStreet cut T. Rowe Price Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 26th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $75.43.

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

Shares of T. Rowe Price Group (NASDAQ:TROW) traded down 0.82% during midday trading on Thursday, reaching $65.62. The company had a trading volume of 714,593 shares. The company has a 50-day moving average price of $67.45 and a 200 day moving average price of $71.81. The company has a market capitalization of $16.31 billion, a P/E ratio of 15.81 and a beta of 1.17. T. Rowe Price Group has a one year low of $63.57 and a one year high of $79.00.

T. Rowe Price Group (NASDAQ:TROW) last posted its earnings results on Tuesday, July 26th. The company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.04. The company had revenue of $1,000 million for the quarter, compared to the consensus estimate of $1.03 billion. T. Rowe Price Group had a return on equity of 22.25% and a net margin of 25.77%. The firm’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.24 earnings per share. Equities analysts anticipate that T. Rowe Price Group will post $4.24 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, September 29th. Shareholders of record on Thursday, September 15th were issued a dividend of $0.54 per share. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $2.16 dividend on an annualized basis and a yield of 3.26%. T. Rowe Price Group’s dividend payout ratio is currently 52.17%.

A number of hedge funds have recently bought and sold shares of TROW. Euclid Advisors LLC bought a new stake in T. Rowe Price Group during the second quarter worth $123,000. Quadrant Capital Group LLC raised its stake in T. Rowe Price Group by 2.5% in the second quarter. Quadrant Capital Group LLC now owns 1,711 shares of the company’s stock worth $119,000 after buying an additional 42 shares in the last quarter. Societe Generale bought a new stake in T. Rowe Price Group during the second quarter worth $126,000. WFG Advisors LP raised its stake in T. Rowe Price Group by 22.2% in the second quarter. WFG Advisors LP now owns 1,870 shares of the company’s stock worth $136,000 after buying an additional 340 shares in the last quarter. Finally, Checchi Capital Advisers LLC raised its stake in T. Rowe Price Group by 0.9% in the second quarter. Checchi Capital Advisers LLC now owns 1,958 shares of the company’s stock worth $143,000 after buying an additional 18 shares in the last quarter. Institutional investors own 69.64% of the company’s stock.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a financial services holding company. The Company provides global investment management services to individual and institutional investors in the sponsored T. Rowe Price mutual funds distributed in the United States and other investment portfolios. It operates through investment advisory business segment.

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