T. Rowe Price Group (NASDAQ:TROW) Upgraded at StockNews.com

StockNews.com upgraded shares of T. Rowe Price Group (NASDAQ:TROW) from a hold rating to a buy rating in a report released on Friday morning.

Several other research analysts have also recently issued reports on TROW. TD Cowen decreased their price objective on shares of T. Rowe Price Group from $120.00 to $116.00 and set a “hold” rating for the company in a report on Monday, November 4th. Evercore ISI lifted their price target on T. Rowe Price Group from $112.00 to $113.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. Barclays upped their price objective on T. Rowe Price Group from $110.00 to $115.00 and gave the company an “underweight” rating in a report on Monday, December 9th. Deutsche Bank Aktiengesellschaft raised their target price on T. Rowe Price Group from $115.00 to $120.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Finally, JPMorgan Chase & Co. dropped their price target on shares of T. Rowe Price Group from $116.00 to $115.00 and set an “underweight” rating on the stock in a research report on Monday, November 4th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $117.00.

T. Rowe Price Group Price Performance

Shares of T. Rowe Price Group stock opened at $116.12 on Friday. T. Rowe Price Group has a 1-year low of $100.49 and a 1-year high of $125.81. The company has a market capitalization of $25.80 billion, a P/E ratio of 12.70, a PEG ratio of 1.73 and a beta of 1.42. The business’s fifty day moving average price is $117.50 and its two-hundred day moving average price is $113.22.

T. Rowe Price Group (NASDAQ:TROW) last issued its quarterly earnings data on Friday, November 1st. The asset manager reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.21. The business had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.84 billion. T. Rowe Price Group had a net margin of 30.35% and a return on equity of 20.35%. The company’s revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the business earned $2.17 earnings per share. On average, research analysts expect that T. Rowe Price Group will post 9.39 earnings per share for the current fiscal year.

T. Rowe Price Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be given a $1.24 dividend. This represents a $4.96 annualized dividend and a dividend yield of 4.27%. The ex-dividend date of this dividend is Friday, December 13th. T. Rowe Price Group’s dividend payout ratio (DPR) is currently 54.27%.

Insider Activity at T. Rowe Price Group

In other news, VP Andrew Justin Mackenzi Thomson sold 4,047 shares of T. Rowe Price Group stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $123.35, for a total transaction of $499,197.45. Following the transaction, the vice president now owns 119,577 shares in the company, valued at approximately $14,749,822.95. The trade was a 3.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.00% of the stock is owned by insiders.

Institutional Investors Weigh In On T. Rowe Price Group

Institutional investors have recently bought and sold shares of the business. Iron Horse Wealth Management LLC lifted its position in shares of T. Rowe Price Group by 90.9% in the third quarter. Iron Horse Wealth Management LLC now owns 231 shares of the asset manager’s stock worth $25,000 after purchasing an additional 110 shares in the last quarter. Hexagon Capital Partners LLC increased its stake in T. Rowe Price Group by 54.7% in the 3rd quarter. Hexagon Capital Partners LLC now owns 294 shares of the asset manager’s stock valued at $32,000 after buying an additional 104 shares during the period. Family Firm Inc. purchased a new stake in T. Rowe Price Group in the 2nd quarter worth approximately $36,000. True Wealth Design LLC acquired a new stake in shares of T. Rowe Price Group during the 3rd quarter valued at $37,000. Finally, Larson Financial Group LLC boosted its stake in shares of T. Rowe Price Group by 866.7% during the 3rd quarter. Larson Financial Group LLC now owns 348 shares of the asset manager’s stock valued at $38,000 after buying an additional 312 shares during the period. 73.39% of the stock is currently owned by institutional investors and hedge funds.

T. Rowe Price Group Company Profile

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.