Fintel reports that on October 6, 2023, Morgan Stanley maintained coverage of T. Rowe Price Group (NASDAQ:TROW) with a Equal-Weight recommendation.
Analyst Price Forecast Suggests 5.66% Upside
As of October 4, 2023, the average one-year price target for T. Rowe Price Group is 107.71. The forecasts range from a low of 78.78 to a high of $129.15. The average price target represents an increase of 5.66% from its latest reported closing price of 101.94.
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The projected annual revenue for T. Rowe Price Group is 6,228MM, a decrease of 0.51%. The projected annual non-GAAP EPS is 7.33.
T. Rowe Price Group Declares $1.22 Dividend
On July 31, 2023 the company declared a regular quarterly dividend of $1.22 per share ($4.88 annualized). Shareholders of record as of September 15, 2023 received the payment on September 28, 2023. Previously, the company paid $1.22 per share.
At the current share price of $101.94 / share, the stock's dividend yield is 4.79%.
Looking back five years and taking a sample every week, the average dividend yield has been 3.10%, the lowest has been 1.94%, and the highest has been 4.67%. The standard deviation of yields is 0.79 (n=236).
The current dividend yield is 2.12 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.71. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.36%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 1716 funds or institutions reporting positions in T. Rowe Price Group. This is a decrease of 37 owner(s) or 2.11% in the last quarter. Average portfolio weight of all funds dedicated to TROW is 0.26%, a decrease of 7.81%. Total shares owned by institutions decreased in the last three months by 0.98% to 188,380K shares. 
The put/call ratio of TROW is 0.86, indicating a bullish outlook.
What are Other Shareholders Doing?
Fayez Sarofim holds 7,491K shares representing 3.34% ownership of the company. In it's prior filing, the firm reported owning 7,564K shares, representing a decrease of 0.96%. The firm increased its portfolio allocation in TROW by 0.89% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 6,999K shares representing 3.12% ownership of the company. In it's prior filing, the firm reported owning 6,945K shares, representing an increase of 0.77%. The firm decreased its portfolio allocation in TROW by 7.75% over the last quarter.
Jpmorgan Chase holds 6,238K shares representing 2.78% ownership of the company. In it's prior filing, the firm reported owning 5,741K shares, representing an increase of 7.96%. The firm increased its portfolio allocation in TROW by 665.84% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 5,347K shares representing 2.38% ownership of the company. In it's prior filing, the firm reported owning 5,233K shares, representing an increase of 2.13%. The firm decreased its portfolio allocation in TROW by 8.18% over the last quarter.
VIMSX - Vanguard Mid-Cap Index Fund Investor Shares holds 5,205K shares representing 2.32% ownership of the company. In it's prior filing, the firm reported owning 5,241K shares, representing a decrease of 0.69%. The firm decreased its portfolio allocation in TROW by 5.40% over the last quarter.
T. Rowe Price Group Background Information
(This description is provided by the company.)
Founded in 1937, Baltimore-based T. Rowe Price Group, Inc. is a global investment management organization with $1.46 trillion in assets under management as of January 31, 2021. The organization provides a broad array of mutual funds, subadvisory services, and separate account management for individual and institutional investors, retirement plans, and financial intermediaries. The company also offers sophisticated investment planning and guidance tools. T. Rowe Price’s disciplined, risk-aware investment approach focuses on diversification, style consistency, and fundamental research.
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