D-Wave Quantum falls nearly 3% as earnings miss overshadows revenue beat
In a challenging market environment, T. Rowe Price Group Inc. (TROW) stock has touched a 52-week low, dipping to $92.78. According to InvestingPro data, technical indicators suggest the stock is in oversold territory. The investment management firm’s shares have faced significant headwinds over the past year, with the stock currently trading at an attractive P/E ratio of 10.2 and offering a substantial 5.45% dividend yield. Investors have watched the stock’s value decrease, with TROW experiencing a 1-year change of -19.14%, signaling a period of bearish sentiment. Despite the decline, the company maintains strong fundamentals with a GOOD financial health score and a 40-year track record of consistent dividend payments. InvestingPro analysis suggests the stock is currently undervalued, presenting a potential opportunity for value investors. This latest price level represents a critical juncture for the stock, as market participants consider the potential for a rebound or further declines in the coming months.
In other recent news, T. Rowe Price Group reported fourth-quarter 2024 earnings that did not meet analyst expectations, with adjusted earnings per share of $2.12 falling short of the projected $2.21. The company’s revenue was also below forecasts, coming in at $1.82 billion compared to the expected $1.88 billion. As of December 31, 2024, assets under management were reported at $1.61 trillion, marking a slight decrease from the previous quarter. Despite these setbacks, T. Rowe Price continued its tradition of increasing dividends, announcing a 2.42% rise to $1.27 per share, marking the 39th consecutive year of dividend growth.
In February 2025, the firm disclosed preliminary assets under management totaling $1.63 trillion, with net outflows of $4.7 billion for the month. Notably, target date retirement portfolios saw an increase, continuing an upward trend from the previous year. Meanwhile, Keefe, Bruyette & Woods adjusted its price target for T. Rowe Price to $113, citing increased operating expenses and ongoing strategic partnerships as influential factors. The company is actively working to reduce its organic decay and has engaged in collaborations with Aspida and Ares, although the impact of these partnerships remains in the early stages.
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