T. Rowe Price Group, Inc. (TROW) stock has reached a 52-week high, touching $124.9, signaling a robust period for the investment management firm. With a market capitalization of $27.67 billion and an attractive P/E ratio of 13.5, InvestingPro analysis suggests the stock remains undervalued despite its recent gains. This milestone reflects a significant recovery and growth, with the stock delivering an 18.07% return year-to-date and maintaining dividend payments for 39 consecutive years, currently yielding 4.03%. Investors have shown increased confidence in TROW's market position and its ability to generate value, contributing to the stock's upward trajectory and its peak over the last year. The 52-week high serves as a testament to T. Rowe Price's strategic initiatives and its resilience in a dynamic financial landscape. For deeper insights into TROW's valuation and growth potential, access the comprehensive Pro Research Report available on InvestingPro, which covers this and 1,400+ other top US stocks.
In other recent news, T. Rowe Price has expanded its stock repurchase program, reflecting the firm's confidence in its financial strength and future prospects. The company's third-quarter financial results also showed an 18% rise in adjusted earnings per share to $2.57, despite a net outflow of $12.2 billion. Notably, assets under management reached $1.63 trillion, a 3.9% increase from the previous quarter.
TD Cowen and Deutsche Bank (ETR:DBKGn) have adjusted their outlook on T. Rowe Price, with the former lowering the price target to $116 and the latter raising it to $115. Both firms maintain a hold rating, reflecting analysts' expectations for the company's future performance.
T. Rowe Price has also declared a quarterly dividend of $1.24 per share, signaling its commitment to returning capital to shareholders. Despite challenges with third-quarter net outflows, the company reported robust net inflows in the target date franchise and ETF business. Amid these recent developments, T. Rowe Price remains confident in the strength of their research strategy, as they anticipate positive trends in active equities and mutual funds in 2025.
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