T. Rowe Price Group (NASDAQ:TROW) Price Target Raised to $110.00

T. Rowe Price Group (NASDAQ:TROW) had its price objective raised by Barclays from $101.00 to $110.00 in a research note issued to investors on Monday morning,Benzinga reports. The brokerage currently has an underweight rating on the asset manager’s stock.

Several other analysts have also recently commented on the stock. JPMorgan Chase & Co. raised their target price on shares of T. Rowe Price Group from $102.00 to $107.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 23rd. Morgan Stanley lifted their price objective on T. Rowe Price Group from $127.00 to $129.00 and gave the company an “equal weight” rating in a report on Monday. TD Cowen cut their target price on T. Rowe Price Group from $123.00 to $118.00 and set a “hold” rating for the company in a research note on Monday, July 29th. Wells Fargo & Company lifted their price target on T. Rowe Price Group from $109.00 to $112.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 9th. Finally, The Goldman Sachs Group cut their price objective on T. Rowe Price Group from $106.00 to $102.00 and set a “sell” rating for the company in a research report on Thursday, October 3rd. Four analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to MarketBeat.com, T. Rowe Price Group has an average rating of “Hold” and a consensus target price of $115.09.

T. Rowe Price Group Stock Down 1.0 %

Shares of TROW stock opened at $120.06 on Monday. The stock’s 50-day moving average price is $108.79 and its 200 day moving average price is $111.82. The stock has a market capitalization of $26.67 billion, a PE ratio of 13.14, a price-to-earnings-growth ratio of 1.73 and a beta of 1.41. T. Rowe Price Group has a 52-week low of $90.02 and a 52-week high of $122.27.

T. Rowe Price Group (NASDAQ:TROW) last released its earnings results on Friday, November 1st. The asset manager reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.21. T. Rowe Price Group had a return on equity of 20.35% and a net margin of 30.35%. The business had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.84 billion. During the same quarter in the previous year, the company posted $2.17 earnings per share. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. Analysts expect that T. Rowe Price Group will post 9.27 earnings per share for the current fiscal year.

T. Rowe Price Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a dividend of $1.24 per share. The ex-dividend date is Friday, December 13th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 4.13%. T. Rowe Price Group’s dividend payout ratio (DPR) is 54.27%.

Insider Transactions at T. Rowe Price Group

In related news, insider Jessica M. Hiebler sold 484 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $104.73, for a total transaction of $50,689.32. Following the sale, the insider now owns 13,939 shares of the company’s stock, valued at $1,459,831.47. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Andrew Justin Mackenzi Thomson sold 11,969 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $102.83, for a total transaction of $1,230,772.27. Following the transaction, the vice president now owns 123,624 shares of the company’s stock, valued at approximately $12,712,255.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jessica M. Hiebler sold 484 shares of T. Rowe Price Group stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $104.73, for a total transaction of $50,689.32. Following the completion of the sale, the insider now directly owns 13,939 shares of the company’s stock, valued at $1,459,831.47. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On T. Rowe Price Group

Several hedge funds have recently made changes to their positions in the business. Insight Folios Inc lifted its position in T. Rowe Price Group by 3.6% during the third quarter. Insight Folios Inc now owns 2,612 shares of the asset manager’s stock worth $285,000 after buying an additional 90 shares during the period. Massmutual Trust Co. FSB ADV increased its stake in shares of T. Rowe Price Group by 7.4% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,328 shares of the asset manager’s stock valued at $153,000 after acquiring an additional 92 shares during the last quarter. Keystone Financial Services lifted its holdings in shares of T. Rowe Price Group by 5.1% during the 3rd quarter. Keystone Financial Services now owns 1,885 shares of the asset manager’s stock worth $205,000 after acquiring an additional 92 shares during the period. Paulson Wealth Management Inc. boosted its position in shares of T. Rowe Price Group by 4.9% in the first quarter. Paulson Wealth Management Inc. now owns 2,028 shares of the asset manager’s stock worth $247,000 after acquiring an additional 95 shares during the last quarter. Finally, Nvwm LLC grew its holdings in T. Rowe Price Group by 2.2% in the third quarter. Nvwm LLC now owns 4,496 shares of the asset manager’s stock valued at $490,000 after purchasing an additional 95 shares during the period. Institutional investors and hedge funds own 73.39% of the company’s stock.

About T. Rowe Price Group

T. Rowe Price Group, Inc is a publicly owned investment manager. The firm provides its services to individuals, institutional investors, retirement plans, financial intermediaries, and institutions. It launches and manages equity and fixed income mutual funds. The firm invests in the public equity and fixed income markets across the globe.