T. Rowe Price Downgraded to “Neutral” at Ticonderoga Securities (TROW)

Filed in dividend, Gold, Gold Investing, shares, ubs by on June 22, 2010 0 Comments

Investment advisor T. Rowe Price Group, Inc. ( TROW ) saw its rating cut on Tuesday by analysts at Ticonderoga Securities. The firm lowered its rating on TROW to “Neutral” from “Buy,” noting that “Shattered retail confidence, substantial equity fund outflows, continued passive penetration, and the prospects of a fiduciary standard present near-term headwinds for the mutual fund business. In our opinion, this combination of factors should continue to drive underwhelming flow trends for the publicly traded asset managers. In conjunction with this view, as well as emerging pressure on the 401k business from the SEC and the Department of Labor, we are downgrading our rating.” T. Rowe Price shares fell 48 cents, or -1%, in premarket trading Tuesday. The Bottom Line Shares of TROW have a dividend yield of 2.21%, based on last night’s closing stock price of $48.76. The stock has technical support in the $43-$45 price area. If the shares can firm up, we see overhead resistance around the $55 price level. We would remain on the sidelines for now. T. Rowe Price Group, Inc. ( TROW ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars. Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

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T. Rowe Price Downgraded to “Neutral” at Ticonderoga Securities (TROW)

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